Melbourne Auction Clearance Rates Drop to 68%

Melbourne auction clearance rates fell to 68 per cent across 412 properties listed for the weekend of 4 July 2026, down from 74 per cent four weeks earlier according to preliminary REIV figures.

The dip arrives as the Victorian median house price sits near 920000 dollars while unit values hover around 620000 dollars, a combination that leaves some first-home buyers priced out even as net migration continues to lift enquiry levels in established pockets.

Clearance rates matter now because they track vendor willingness to meet the market rather than chase the 2024 peaks, when many listings in premium corridors failed to reach reserve.

Local results track suburb differences

In Brighton, six of nine homes cleared at auction, including a four-bedroom weatherboard on Male Street that fetched 2.15 million dollars after three rounds of bidding. Further east in Kew, only four of seven properties sold under the hammer, with two four-bedroom homes on Studley Park Road passing in and returning to private treaty. These outcomes sit against stronger activity in the Frankston corridor, where eight of eleven listings cleared, many under 850000 dollars and drawing buyers priced out of inner-east postcodes.

CoreLogic data released this week showed Melbourne house values rose 1.8 per cent over the June quarter, yet the pace slowed from the 3.1 per cent recorded in the March quarter. Auction volumes remain elevated, with 380 to 420 listings typical each Saturday through winter, giving agents more data points on genuine buyer limits.

Next steps for sellers and buyers

Vendors planning an August campaign should review recent comparable sales within 800 metres of their property rather than relying on 2025 peak figures. Buyers holding pre-approval should inspect at least two auctions in their target suburb before making an offer, noting that clearance rates below 70 per cent often produce negotiable stock within seven days of the hammer. Those eyeing the Frankston corridor can compare recent results on realestate.com.au against listings still listed as auction to gauge room to move on price.