Signs of a Weakening Melbourne Market?


With yet another hot weekend of auctions for Sydney and Melbourne, market clearance rates weaker across both cities.

Sydney has recorded a clearance rate of 80.1% this will now be the 18th week out of the past 20 where the clearance rate has been above 80%, although slightly down from last week’s 80.6% this has been the second consecutive drop in as many weeks. (Source APM)

Melbourne reported a clearance rate of 70.3% the lowest result of the season and down from last week’s 73.3%. (Source APM)

Vendors are being urged the importance of being realistic about the price in which they are expecting to achieve for their properties, with reported auctions in Melbourne continuously exceeding 1000 buyers are being left with a wide range of choice.

“Being realistic about price can be the difference between selling and not selling. We know that a property will receive the most enquiries in the first three weeks of the campaign and with Melbourne property being in great competition across the market I would urge vendors to take advice from the market when it comes to pricing feedback and also listen to their agent”.

It may be too early to predict, however a draw back in Melbourne property prices have some property commentators concerned and telling us to watch this space.


Auction Results:

Sydney: 80.1% (APM)
Melbourne: 70.3% (APM)
Brisbane: 47% (APM)
Adelaide: 73% (APM)
Canberra: 39% (Canberra Times)

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