Melbourne Auction Clearance Rates Jump to 74% in July

Melbourne auction clearance rates reached 74 per cent in the four weeks to 7 July, up from 68 per cent in the prior period, as Domain Group recorded 312 auctions across the metropolitan area.

The shift matters now because winter listings typically slow while buyer inspections hold firm, giving vendors in established pockets an edge before spring stock arrives. Migration inflows continue to support entry-level demand even as the Victorian median house price sits near $920,000.

Clearance gains appeared most consistent along the Frankston corridor, where new rail upgrades have lifted bidder numbers at weekend sales, and in pockets of the Inner East such as Kew, where three-bedroom homes under $1.5 million drew multiple offers. Local agents at Ray White and Jellis Craig reported stronger attendance at open homes on streets like High Street in Kew and Nepean Highway sites near Frankston station.

Domain figures show 231 of the 312 auctions cleared, with the median clearance price for houses landing at $1.05 million. Unit clearance reached 71 per cent against a median price near $620,000, reflecting renewed interest from first-home buyers using the state’s stamp-duty concessions.

Bayside and Moonee Ponds activity

Bayside suburbs posted a 76 per cent clearance rate last month, with Sandringham and Brighton East properties selling above reserve more often than in May. Moonee Ponds recorded eight of eleven auctions clearing, including a converted convent on Margaret Street that fetched $3.1 million after three rounds of bidding.

These results align with higher volumes tracked by the Real Estate Institute of Victoria, which noted 1,450 auctions scheduled statewide in the final week of June compared with 1,280 the month before.

Next steps for buyers and sellers

Vendors planning August campaigns should register properties by the end of this month to catch current momentum before new listings flood the market. Buyers tracking clearance data can focus on Frankston-line suburbs where competition remains moderate relative to inner-east premiums.

Weekly Domain updates will next appear on 17 July, covering auctions from the weekend of 11-12 July across 280 scheduled sales.