Melbourne Real Estate Auction Results 20/05/2024
By admin
May 19th, 2024
Current Market Conditions
The Melbourne real estate market is currently experiencing a period of stability, with property prices remaining relatively flat. As of March 2024, Melbourne’s median house price was just over $935,000, showing a minimal change from the previous month and quarter, but a modest annual growth of 3.3%. This trend reflects a cautious market, with signs of slowdown evident since late 2023 and early 2024.
Auction Results and Market Sentiment
Over the weekend, Melbourne’s auction market mirrored these broader trends. The auction clearance rate stood at 66.2%, slightly down from the previous week’s 70.1% (which later revised to 65.0%). Despite the dip, the strong clearance rates indicate that buyer interest remains steady, particularly in well-located and desirable suburbs.
Market Influences
Several factors are contributing to the current state of the Melbourne property market. Rising interest rates have had a significant impact, making buyers and sellers more cautious. Melbourne has been hit harder by these rate hikes compared to some other Australian cities. Additionally, the Victorian government’s increase in property taxes has led some landlords to sell, increasing the supply of lower-grade properties and dampening price growth further.
Future Market Predictions
Looking ahead, the outlook for the Melbourne property market is mixed. Some experts believe there is significant upside potential if interest rates stabilize or decrease later in the year. The return of international investors and continued population growth are expected to support demand and potentially drive price increases in the medium to long term.
However, the market remains fragmented, with some suburbs and property types performing better than others. Strategic investors are advised to carefully select properties and locations to maximize potential returns. The ongoing low vacancy rates and rising rental prices also suggest that the rental market will remain strong, providing attractive opportunities for investors.
Conclusion
In summary, the Melbourne real estate market is currently characterized by stable prices and strong auction clearance rates, reflecting a cautious but active buyer market. While the immediate future may see continued price stagnation, the longer-term outlook remains positive, driven by population increases, economic opportunities, and a potential easing of interest rates. Investors and homebuyers are encouraged to stay informed and strategic in their property choices to capitalize on future market movements.
Property Management Kew | Expert Kew Property Managers | Ham Kerr Property
Managing property in Kew requires more than just an agent — it demands a team that truly understands the suburb’s heritage character, premium schools, and discerning tenants. At Ham Kerr Property, we’ve been trusted property management specialists across Kew and the City of Boroondara for over 30 years. From meticulous tenant selection to proactive maintenance and transparent communication, our family-run team delivers peace of mind and premium results for every property we manage.
Weekly Australian Auction Market Analysis: 26–28 September 2025
The Melbourne auction market pushed through spring’s final stretch with the kind of stamina that has defined this campaign, absorbing a surge in listings and still clearing the bulk of quality stock. Following last week’s Super Saturday result, where combined capitals achieved 72.3 per cent and Melbourne cleared 75.7 per cent, this week settled into a more sustainable rhythm. Melbourne recorded 1,345 scheduled auctions with 984 reported results and a clearance rate of 68 per cent. That is a step down from the frenzy of Super Saturday, but it is still a strong outcome given the Melbourne Cup lull, the snap-back in volumes that inevitably follows, and the persistent headwind of higher serviceability. The median sale price in Melbourne came in at $991,000, pointing to firm buyer depth in family-friendly corridors and renewed activity from investors targeting yield and depreciation benefits as the year winds down.
Melbourne and Regional Auction Market Update: 12–14 September 2025
The auction market has once again shown its resilience, holding steady despite high interest rates and cautious buyer sentiment. Over the weekend of 12–14 September, clearance rates across Australia’s capital cities remained in the 70 to 75 per cent range, driven by renewed spring activity.
Melbourne & Australian Property Market: Spring Selling Season Kicks Off with a Bang
The Australian property market has roared into the spring selling season, with the weekend of September 6th, 2025, delivering strong auction results across the major capital cities. The national clearance rate surged to an impressive 74.4%, a significant jump from the previous week and the same time last year, signalling robust buyer confidence and a market poised for continued growth.