Australia Weekly Property Market Report – Week Ending 27 September 2026

Grand Final Weekend Pauses Melbourne’s Spring Auction Rush as Clearance Rates Soften and Another Rate Rise Looms

Executive Summary

Melbourne’s property market entered its traditional AFL Grand Final pause over the weekend ending Sunday, 27 September 2026. Only a fraction of the properties that would normally come to auction were listed, giving buyers, sellers and agents a short interruption before the expected return of much heavier spring activity in October.

The slowdown itself wasn’t surprising. Grand Final weekend regularly produces a sharp reduction in Melbourne auction volumes. What makes this week more interesting is what happened underneath that seasonal effect. Clearance rates were noticeably weaker than a year ago, house auction prices were lower, and a sizeable number of properties failed to sell under the hammer.

My Housing Market recorded 291 Melbourne auctions and a 59.5% clearance rate, broadly steady with the previous week’s 59.3%. The combined Melbourne auction median was $827,000, while the house median was $871,000 and the unit median was $467,900. Units produced a particularly strong 72% clearance rate, compared with 55.9% for houses. With such a small Grand Final weekend sample, though, these figures are more volatile than usual.

Domain’s preliminary results were softer. It recorded 291 scheduled Melbourne auctions, 179 reported results, 93 sales, 57 pass-ins and 29 withdrawals, giving a 52% clearance rate. The reported median was $843,000, with about $60.5 million in disclosed auction sales. A year earlier, Domain recorded a 71% clearance rate for the comparable period.

The gap between the two datasets is a useful reminder that preliminary clearance rates can vary depending on methodology, reporting and the number of results available. Rather than focusing on one percentage, the broader direction is more revealing: Melbourne’s auction market is performing materially below the levels seen a year ago.

The national picture was also subdued. Cotality recorded 1,428 homes taken to auction across the combined capital cities, with a 50.3% clearance rate, the weakest result in ten weeks. Auction volumes were 22.4% lower than the previous week and 17.7% below the equivalent period last year. Melbourne’s Grand Final slowdown was a major contributor to the lower volume, while Sydney carried the largest auction schedule.

Sydney recorded 1,029 auctions and a 56.2% clearance rate in the My Housing Market dataset, up from 54% despite a substantial increase in listings. Brisbane improved to 37.1%, Canberra recorded 52.5%, while Adelaide weakened to 40.8%. Across the five major auction capitals, the average clearance rate was only 49.2%, compared with 50.6% the previous week and 70.6% a year earlier.

The more significant development for the Australian housing market, though, is happening outside the auction rooms.

The Reserve Bank of Australia began its two-day Monetary Policy Board meeting on Monday, 28 September, with the decision due Tuesday, 29 September. Financial markets had placed around a 90% probability on another 25-basis-point increase, while all 29 economists surveyed by Bloomberg expected the cash rate to rise from 4.35% to 4.60%.

If delivered, that would represent the fourth rate increase of 2026 and take the cash rate to its highest level since November 2011.

The prospect of higher mortgage repayments was already influencing buyer behaviour. Banks had started increasing some fixed mortgage rates in anticipation of tighter policy, while auction buyers were becoming more disciplined about price.

For Melbourne, then, the real test begins after the Grand Final and school-holiday slowdown.

October is expected to bring substantially more Australian property listings at exactly the point when borrowing capacity could become tighter again. That combination could give buyers more choice and potentially strengthen their negotiating position.

Weekly Market Snapshot — Week Ending 27 September 2026

• Melbourne — My Housing Market: 291 auctions; 59.5% clearance; $827,000 combined median; $871,000 house median; $467,900 unit median.
• Melbourne — Domain preliminary: 291 scheduled; 179 reported; 93 sold; 57 passed in; 29 withdrawn; 52% clearance; $843,000 median.
• Cotality combined capitals: 1,428 auctions; 50.3% clearance rate, the weakest in ten weeks.
• Sydney: 1,029 auctions; 56.2% clearance; $1.53 million combined median; $1.84 million house median.
• Brisbane: 133 auctions; 37.1% clearance.
• Adelaide: 103 auctions; 40.8% clearance.
• Canberra: 90 auctions; 52.5% clearance.
• National five-capital average: 49.2%, compared with 50.6% the previous week and 70.6% one year earlier.
• RBA: 4.35% cash rate ahead of the 29 September decision, with markets pricing around a 90% probability of an increase to 4.60%.

These figures form the core of this week’s Australia Weekly Property Market Report, but the Melbourne numbers deserve the closest attention because of the unusual timing. 

Melbourne: Grand Final Weekend Delivers the Expected Auction Pause

The Melbourne auction market effectively took a scheduled break over Grand Final weekend.

Only 291 properties were listed for auction, compared with 913 the previous week. That represents a decline of roughly 68%, which is typical for AFL Grand Final week. Agents and vendors generally avoid competing with one of Melbourne’s biggest annual events, particularly when a large proportion of potential buyers are focused on the football.

The interesting part is that this year’s volume was actually slightly higher than the equivalent Grand Final week last year, when 250 auctions were recorded.

The clearance rate tells a less encouraging story.

My Housing Market recorded a 59.5% Melbourne Auction Clearance Rate, compared with 73.6% during the same week last year.

Domain’s preliminary figure was weaker again at 52%, compared with 71% a year earlier.

So while the reduction in Melbourne Auction Volumes can be explained largely by the calendar, the weaker conversion rate cannot be dismissed as simply a Grand Final effect.

Both years experienced the same seasonal interruption.

That year-on-year gap provides a more useful indication of how buyer sentiment has changed. Buyers are still attending auctions and completing purchases, but they appear much less willing or able to stretch beyond their preferred price range.

That is an important feature of the current Melbourne Property Market.

Why Melbourne’s 59.5% Clearance Rate Needs Context

A clearance rate close to 60% might initially look reasonably healthy.

On its own, though, it doesn’t tell the whole story.

The number needs to be considered alongside auction volume, passed-in properties and prices.

First, only 291 properties were scheduled. That’s a very small sample compared with a normal spring weekend.

Second, Domain recorded 57 pass-ins from 179 reported results, while another 29 campaigns were withdrawn.

Third, Melbourne’s weekly house auction median was considerably lower.

My Housing Market recorded a $871,000 house median, compared with $999,000 the previous week and $1 million during the equivalent week last year.

That represents a 12.9% year-on-year decline in the weekly house auction median.

It would be misleading to interpret that as Melbourne House Prices falling 12.9% over the year. Weekly auction medians can move sharply depending on which properties happen to sell, and the Grand Final weekend sample was particularly small.

The result is better viewed as another indication that buyers are operating at lower price points.

For anyone tracking the Melbourne Auction Market, that distinction matters. A weekly auction median is a snapshot of the properties that sold, not a direct measure of the change in value of every home across Melbourne.

Units Deliver the Standout Melbourne Result

The standout result from this week’s Melbourne Auction Results came from the unit market.

Melbourne units recorded a 72% clearance rate, compared with only 55.9% for houses.

The median unit auction price was $467,900, compared with $871,000 for houses.

That difference highlights how strongly affordability is influencing the Melbourne Unit Market.

The sample was tiny, with only 25 unit results included, so the 72% clearance rate shouldn’t be projected across Melbourne’s entire apartment market.

Still, the result fits a broader pattern visible during 2026.

As mortgage costs rise, some buyers who can no longer comfortably finance a $1 million house are moving down the price ladder. A $600,000 or $700,000 apartment, townhouse or smaller home may remain within reach even when a detached house is not.

That doesn’t necessarily mean higher interest rates remove buyers from the market. They can change what buyers are prepared to purchase.

Recent reporting from realestate.com.au has also pointed to renewed interest in Melbourne’s one-bedroom apartment market, where lower entry prices and comparatively stronger rental yields are attracting attention.

For first-home buyers and investors, the Melbourne Unit Market therefore deserves close attention as affordability continues to shape demand.

Melbourne’s Suburbs: Highly Variable Results

The small Grand Final weekend sample produced some unusually wide differences across Melbourne.

The Inner East recorded an 80% clearance rate, followed by the Outer East and North East at 68.8%.

At the other end of the scale, the West recorded only 34.5%, while the South East achieved 42.9%.

The Inner South recorded 62.5%, the northern region 53.6%, and Inner Urban Melbourne 66.7%.

These figures should be treated carefully because several regions had fewer than 20 reported results.

Even so, they show why the Melbourne Property Market can’t be accurately described by one metropolitan percentage.

Demand varies significantly depending on price, school zones, land size, dwelling type, renovation requirements and the amount of competing stock nearby.

A well-presented property in a tightly held street can still attract multiple bidders while the wider market is struggling.

That is increasingly important for sellers trying to interpret Melbourne Auction Results. A weak city-wide clearance rate doesn’t automatically mean every property will struggle. The individual property, its price bracket and the quality of its campaign still matter.

Notable Melbourne Auction Sales

Despite the quiet weekend, there were several substantial Melbourne House Auction Prices.

The highest reported auction transaction was 6 Chicago Street, Maribyrnong, which sold for $3.04 million.

Other leading results included:

• 26 Lechte Road, Mount Waverley — $2.595 million
• 16 Attley Grove, St Kilda East — $2.31 million
• 20 Gallery Place, Wheelers Hill — $2.05 million
• 24 Matilda Avenue, Wantirna South — $2.01 million
• 65 Deep Creek Drive, Doncaster East — $1.975 million
• 24 Stableford Avenue, Glen Waverley — $1.602 million
• 4A Bales Street, Mount Waverley — $1.535 million
• 43 Chapel Street, Glen Waverley — $1.472 million
• 128 Whites Lane, Wheelers Hill — $1.462 million

At the more affordable end, a two-bedroom home at 7/106–108 Cross Street, West Footscray, sold for $375,000.

Domain separately recorded the $2.595 million sale at 26 Lechte Road, Mount Waverley, and the $1.975 million result at 65 Deep Creek Drive, Doncaster East.

The wider weekly sales data also identified a four-bedroom Mount Martha house as the highest-priced reported Melbourne-area transaction for the week, highlighting an important point: some of Melbourne’s largest property transactions happen through private sale rather than auction.

Passed-In Properties Remain an Opportunity for Buyers

One of the clearest features of this week’s Melbourne Auction Results was the number of properties that failed to sell under the hammer.

Domain recorded 57 Melbourne Passed-In Auctions from 179 reported results.

The properties were spread across a wide range of suburbs. A property at 24 The Circle, Altona North, passed in on a maximum bid of $690,000. Other pass-ins occurred across Balwyn, Bentleigh, Box Hill North, Epping, Mount Waverley, Moonee Ponds and other parts of Melbourne.

The geographic spread is significant.

Pass-ins aren’t confined to one region or one type of property. They reflect a broader gap between what buyers are prepared to pay and what vendors expect to receive.

For buyers, these campaigns are worth following.

The highest bidder generally has the first opportunity to negotiate once the auction is passed in. With the public competition removed, the conversation can become much more focused on price and terms.

For vendors, the period immediately after a pass-in can be just as important.

The strongest prospective buyer is already there. They’ve inspected the property, made the effort to attend the auction and demonstrated enough interest to bid.

Holding an unrealistic price for too long can give that buyer a reason to move on to another property.

Sydney: More Stock, Slightly Better Clearance

While Melbourne paused for the AFL Grand Final, the Sydney Housing Market moved in the opposite direction.

Sydney recorded 1,029 scheduled auctions, up substantially from 796 the previous week.

Its clearance rate also improved modestly, rising from 54% to 56.2%.

That is an encouraging result given the increase in supply.

It remains well below the 77.9% clearance rate recorded from 1,433 auctions during the equivalent week last year, though.

The Sydney house auction median was $1.84 million, 5.6% below the $1.95 million recorded a year earlier.

Units again outperformed houses, recording a 60.8% clearance rate compared with 54.3% for houses.

The Northern Beaches produced the strongest regional result at 74.4%, followed by the Inner West at 65.7% and South at 64.8%. Sydney’s South West recorded only 37.5%.

The top reported sale was a six-bedroom home at 109 Cabarita Road, Cabarita, which sold for $5.26 million.

Other leading transactions included Newport at $4.8 million, Double Bay at $4.6 million, Strathfield at $4.48 million and Clovelly at $4.18 million.

The Sydney Property Market therefore continues to show a pattern similar to Melbourne: scarce, highly desirable properties can still achieve strong results while the broader market remains much more price-sensitive.

Australia Weekly Property Market Report : Brisbane

The Brisbane Property Market recorded 133 auctions and a 37.1% clearance rate, improving from 30.8% the previous week.

The result remained below the 45.9% recorded during the equivalent week last year.

The improvement is positive, but Brisbane’s auction statistics need to be interpreted differently from Melbourne’s.

Private treaty is the dominant sales method in Queensland, meaning auction clearance rates cover only a relatively small share of the total market.

The strongest reported Brisbane auction result was 4/1 Golden Orchid Close, Bardon, at $2.36 million, followed by New Farm at $2.122 million and Sinnamon Park at $1.907 million.

The Brisbane Auction Results reinforce a simple point: the most appropriate sales method depends on the property and the local buyer pool. Auction isn’t automatically the best approach simply because competition is expected.

Adelaide

The Adelaide Property Market weakened this week.

Adelaide recorded 103 auctions and a 40.8% clearance rate, down from 53.9% the previous week and well below the 83.7% recorded during the equivalent week last year.

The year-on-year decline is particularly notable.

Adelaide has enjoyed strong price growth over recent years, but that growth has also reduced its affordability advantage.

Higher mortgage costs are now affecting markets that previously appeared relatively insulated from the broader slowdown.

The leading reported auction sale was 2 Rowney Avenue, Campbelltown, at $2.05 million, followed by Ethelton at $1.2315 million and Park Holme at $1.218 million.

The Adelaide Auction Results suggest buyers are becoming more cautious even in a market that has previously performed strongly.

Australia Weekly Property Market Report: Canberra

Canberra recorded 90 auctions and a 52.5% clearance rate, compared with 55.2% the previous week and 71.8% a year earlier.

The strongest reported transaction was 9 Turner Place, Yarralumla, at $2.425 million.

Other leading sales included Bruce at $1.75 million, Ngunnawal at $1.52 million and Red Hill at $1.5 million.

Stable public-sector employment continues to provide Canberra with some underlying support. At the same time, relatively high property prices leave buyers sensitive to changes in borrowing costs.

The Canberra Auction Results therefore remain useful for tracking sentiment, but the year-on-year decline in clearance rates shows that the market isn’t immune to the wider affordability pressures affecting the Australian Housing Market.

Perth, Hobart and Darwin

Weekly auction statistics are less useful in Perth, Hobart and Darwin because private treaty is the dominant sales method.

For these markets, Australian Property Listings, days on market, vendor discounting and private-sale volumes can provide a better indication of market conditions than auction clearance rates alone.

Darwin continues to record substantial individual private transactions, including a $3.9 million sale at 2 Scott Street during the latest reporting period.

The contrast is a useful reminder that national auction statistics shouldn’t be treated as a complete measure of the Australian Property Market.

Geelong: Private Sales Continue to Dominate

The Geelong Property Market remains predominantly private treaty.

The latest weekly reporting identified a four-bedroom Batesford home as the highest-priced reported Geelong-region sale for the week ending 26 September.

Geelong continues to benefit from its affordability relative to Melbourne, established employment in healthcare, education and professional services, rail connectivity and access to the Bellarine Peninsula and Surf Coast.

But the market is increasingly property-specific.

Buyers continue to favour established, well-maintained family homes where substantial immediate renovation expenditure isn’t required.

Properties needing major work face a tougher environment because purchasers are factoring construction and financing costs directly into their offers.

For vendors, presentation has become more important as buyers gain more choice.

Ballarat: Only One Auction Sale Reported

The Ballarat Property Market provides a useful reminder of why regional markets shouldn’t be assessed using metropolitan auction metrics.

Realestate.com.au and PropTrack-linked reporting identified only one auction sale in the Ballarat region during the week ending 26 September.

The leading reported transaction was a private sale at 138 Eureka Street for $1.1 million.

Domain’s weekly auction reporting also recorded a Ballarat Central property at 4 Pisgah Street passing in, while 426 Raglan Street South sold before auction.

Ballarat’s affordability remains one of its strongest structural advantages.

The city has a diversified employment base spanning healthcare, education, government and professional services and remains connected to Melbourne by rail.

Even so, buyers are becoming increasingly selective. Turnkey family homes close to established amenities should remain better positioned than properties requiring substantial renovation or energy-efficiency improvements.

Bendigo: Private Treaty Leads the Market

Bendigo also remains overwhelmingly a private-treaty market.

PropTrack-linked reporting identified 16 local sales during the latest reporting period, with 10 George Street selling privately for $1.4 million, the highest reported result.

Domain’s auction results separately recorded a three-bedroom Axedale home selling for $560,000, while a four-bedroom property at 130–132 Williamson Street, Bendigo, passed in.

Bendigo’s economic diversity continues to provide longer-term support through healthcare, education, government, finance and professional employment.

For investors, though, regional affordability shouldn’t be treated as a guarantee of future growth.

Rental demand, maintenance, location, tenant profile and future housing supply still need to be assessed at property level.

Cotality: National Auction Clearance Falls to a 10-Week Low

The latest Cotality figures provide the clearest national warning in this Australia Weekly Property Market Report. 

The combined-capital auction clearance rate fell to 50.3%, the weakest result in ten weeks.

Approximately 1,428 homes went to auction, down 22.4% from the previous week and 17.7% below the same period last year.

Melbourne’s Grand Final slowdown clearly influenced the national auction volume. But the weaker clearance rate suggests the story goes beyond the calendar.

Cotality’s preliminary Melbourne clearance rate was reported at around 48.8%, while Sydney’s was approximately 53.6%.

The data is consistent with a market facing three simultaneous pressures:

• higher borrowing costs;
• falling or stagnant property values; and
• increasing buyer expectations that further opportunities may emerge.

That final factor is easy to overlook.

When buyers believe prices are rising rapidly, waiting can feel expensive. Buyers worry that the same property will cost more next month.

When they believe prices may soften further, patience becomes a negotiating strategy.

That shift in psychology is one of the more important developments in the current Australian Housing Market.

PropTrack and realestate.com.au: Affordability Is Reshaping Demand

REA Group’s PropTrack data continues to point toward an increasingly affordability-driven market.

Recent reporting indicates buyer interest is moving toward smaller, lower-priced dwellings, including Melbourne apartments.

That aligns with this week’s auction results, where units substantially outperformed houses in both Melbourne and Sydney.

It also fits the broader price adjustment occurring during 2026.

For buyers, the question is no longer simply whether they want to purchase.

Increasingly, it’s what type of property they can purchase comfortably.

That distinction matters for sellers too.

Properties positioned within the borrowing capacity of a large pool of buyers may attract significantly more competition than homes sitting just above an affordability threshold.

This is one reason Melbourne Property Prices need to be considered alongside household borrowing capacity rather than viewed in isolation.

REIV and Victoria’s Changing Auction Environment

The Real Estate Institute of Victoria has repeatedly highlighted the need to consider Melbourne’s weaker auction results alongside interest rates, investor sentiment and regulatory changes.

Another factor arrives on 1 October, when Victoria’s new auction reserve-price rules are scheduled to take effect.

Under the reforms, sellers using auction or set-date methods will generally need to publish a single reserve price at least seven days before the scheduled sale.

REIV chief executive Toby Balazs has warned that the rules could encourage more vendors to choose private treaty and potentially reduce auction volumes during an already challenging spring market.

That means October’s statistics may reflect two things at once: changing market sentiment and a change in the way properties are brought to market.

It will be important not to assume that a decline in Melbourne Auction Volumes automatically means fewer homes are being offered for sale.

Some vendors may simply be choosing a different sales method.

The RBA: A Rate Rise Is Now the Base Case

The biggest event for the property market this week is taking place outside the auction rooms.

The RBA’s Monetary Policy Board meets on 28–29 September.

The cash rate currently stands at 4.35%.

Financial markets are pricing around a 90% probability of a 25-basis-point increase to 4.60%, while all economists surveyed by Bloomberg expect the RBA to raise rates on Tuesday.

If delivered, 4.60% would be the highest cash rate since November 2011.

Most economists expect this to be the final increase, although some analysts see the possibility of another move in November.

For anyone following RBA Interest Rates Australia, the impact on property is straightforward: a higher cash rate eventually feeds through to borrowing costs, although the timing and size of changes vary between lenders and loan products.

The banking system is already responding.

Canstar data cited by ABC showed that 18 lenders increased at least one fixed mortgage rate during September, including increases from major banks.

That matters because buyers don’t make decisions solely on today’s mortgage repayment. They also consider what their repayments might look like if interest rates remain higher for longer.

For the Melbourne Property Market Forecast, that makes interest rates one of the most important variables heading into October.

Labour Market Weakens — But Probably Not Enough to Stop the RBA

Australia’s unemployment rate rose to 4.6% in August, its highest level since the immediate post-pandemic period.

Normally, weaker employment conditions would argue against further monetary tightening.

But economists generally expected the deterioration to be insufficient to prevent another RBA increase because inflation remained above target and officials had indicated that the labour market still carried excess demand.

For housing, this creates an uncomfortable combination.

Mortgage costs can rise at the same time as employment conditions weaken.

That tends to make buyers more cautious, particularly those already close to their maximum borrowing capacity.

It also means the Australian Interest Rates outlook could become just as important as property supply when assessing the Property Market Forecast 2026.

Global Inflation and Interest Rates

Australia isn’t dealing with higher interest rates in isolation.

The US Federal Reserve recently increased interest rates as it continued to deal with inflation, with price pressures affected by energy costs, tariffs and geopolitical conflict.

RBA officials have also highlighted persistent energy-price pressures from the Middle East and the significant capital spending associated with the global artificial-intelligence boom as potential inflation risks.

The broader implication for the Australian Property Market is that the ultra-low interest-rate environment experienced through much of the 2010s and the early pandemic period may not return quickly.

Borrowers, investors and property businesses may need to plan around financing costs that remain higher than they became accustomed to during the low-rate period.

That doesn’t automatically mean property prices must fall indefinitely. It does mean borrowing capacity is likely to remain an important constraint on demand.

Buyer Sentiment: Opportunity Without Urgency

Current auction behaviour suggests buyers increasingly believe there is opportunity, but they don’t feel much need to rush.

That is a meaningful change in market psychology.

In a rapidly rising market, waiting can mean paying more.

In a correcting market, waiting may produce another listing, a passed-in auction or a vendor who becomes more willing to negotiate.

That encourages buyers to remain disciplined.

The 57 Melbourne Passed-In Auctions recorded by Domain this week provide a clear illustration.

Buyers are attending.

They are bidding.

But many are stopping before reaching the vendor’s preferred price.

For buyers, that can create opportunities. For sellers, it’s a warning that simply putting a property to auction doesn’t guarantee competitive bidding.

Vendor Sentiment: October Becomes the Real Spring Test

Grand Final weekend tells us relatively little about normal Melbourne auction supply.

The real test starts in October.

Vendors who deliberately avoided the Grand Final and school holidays will return to the market. At the same time, some sellers may switch from auction to private treaty because of Victoria’s new reserve-disclosure requirements.

Buyers, meanwhile, may be adjusting their budgets following another RBA rate increase.

That combination could make the Melbourne Spring Property Market unusually complex.

October has traditionally been an important selling period, but choosing October doesn’t guarantee a better result.

If more vendors return at the same time, sellers will be competing against one another for a buyer pool that is already showing greater price sensitivity.

That is why the Melbourne Spring Auction Market will be worth watching closely over the next several weeks.

Forecast: What to Watch Through October

The first two full auction weekends after the school holidays should provide a much clearer picture of Melbourne’s underlying market depth.

If auction volumes return toward 800–1,000 properties and final clearance rates remain in the mid-to-high 50s, that could suggest the market is stabilising despite higher interest rates.

If clearance rates fall toward or below 50% as stock increases, further price adjustment becomes more likely.

Another variable will be the mix between auction and private treaty.

Victoria’s new reserve-price requirements could reduce auction numbers even if total listings increase.

For that reason, the October Property Market Australia picture should not be judged solely through clearance rates. Total new listings, days on market, vendor discounting and private-sale activity will become increasingly important.

The Melbourne October Property Market could therefore look weaker in auction statistics without necessarily showing an equivalent decline in overall housing activity.

For anyone following this Australia Weekly Property Market Report, October will be much more informative than Grand Final weekend. 

Australia Weekly Property Market Report: Actionable Insights

For vendors

Don’t read too much into the small Grand Final weekend auction sample.

Instead, focus on recent comparable sales, genuine campaign feedback and the level of buyer engagement around your property.

October is likely to bring more competing stock, so presentation, pricing and database engagement will matter.

If you’re planning an auction, have a clear post-auction negotiation strategy before auction day. If the property passes in, the first conversation with the strongest bidder may be more valuable than spending another week waiting for a theoretical buyer.

For buyers

Finance preparation matters more than ever ahead of changes to the RBA Interest Rates Australia outlook.

Calculate repayments using a higher interest rate rather than borrowing to the maximum amount a lender will approve today.

Continue watching passed-in and withdrawn campaigns. Once the auction competition disappears, negotiating conditions can become considerably more favourable.

The current market also gives buyers more reason to compare houses, units and locations rather than becoming attached to one particular property.

For investors

Look at net cash flow rather than headline rental yield alone.

Higher mortgage costs, land tax, owners corporation fees, insurance, maintenance and compliance expenses can materially change an investment’s return.

Lower-priced units and selected regional properties may provide more manageable entry points, but affordability by itself isn’t a sufficient investment strategy.

Location, rental demand, future supply, tenant profile and the quality of the individual property still matter.

For those considering Melbourne Property Investment, the current market may provide opportunities, but higher financing costs mean the numbers need to work from day one.

Key Takeaways

• Melbourne recorded only 291 auctions during AFL Grand Final week, down from 913 the previous week.
• My Housing Market recorded a 59.5% Melbourne Auction Clearance Rate, while Domain’s preliminary result was lower at 52%.
• Domain reported 57 pass-ins and 29 withdrawals from 179 reported Melbourne auctions.
• Melbourne’s reported house auction median was $871,000, while units recorded a substantially stronger clearance rate.
• Melbourne’s weekly house auction median was well below the equivalent period last year, although the small sample means it shouldn’t be interpreted as a direct annual change in Melbourne House Prices.
• Sydney absorbed a large increase in auction supply and recorded a 56.2% clearance rate from 1,029 auctions.
• Brisbane improved to 37.1%, Canberra recorded 52.5%, while Adelaide weakened to 40.8%.
• Cotality’s combined-capital clearance rate fell to 50.3%, its weakest result in ten weeks.
• Geelong’s leading reported sale was a four-bedroom Batesford home, while Ballarat’s leading reported transaction was a $1.1 million private sale at 138 Eureka Street.
• Bendigo recorded 16 reported local transactions, led by a $1.4 million private sale at 10 George Street.
• Financial markets were pricing around a 90% probability that the RBA would increase the cash rate from 4.35% to 4.60% on Tuesday, 29 September.
• The combination of higher borrowing costs, greater listing supply and more cautious buyers is likely to keep the Australian Housing Market under pressure in the near term.
• October, rather than Grand Final weekend, will provide the real test highlighted by this Australia Weekly Property Market Report. 

The immediate question in this Australia Weekly Property Market Report isn’t whether buyers have disappeared. They haven’t. 

The bigger question is how they respond when more properties return to the market and borrowing costs potentially move higher.

For Melbourne, that makes October the month to watch. The Grand Final pause has passed. The school-holiday interruption will soon fade. More sellers are likely to compete for attention, while buyers enter the spring market with tighter budgets and less reason to rush.

That will make the next few Melbourne Auction Results far more revealing than this unusually quiet weekend.

Disclaimer: This report is for general information only and is based on market data available at the time of preparation. It does not constitute financial or investment advice. Market conditions may change, and readers should seek appropriate professional advice before making property decisions.