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Buyers spring back in August
Over August’s first three weekends the Real Estate Institute of Victoria (REIV) recorded more than 1,217 auctions. 796 properties sold, 577 at auction, with 326 passed in. 218 properties were sold before auction with 1 property selling after auction. The clearance rate averaged 71%. 1,624 homes were bought by private sale.
Bigger auction crowds and the highest clearance rate since March tells us the dynamic Spring market is firing up!
RBA rate stays steady
It’s good timing that the RBA kept the cash rate steady at 4.35% on August 11. It gives sellers more confidence going into Spring which translates to more listings and therefore more opportunities for a buyer to find that perfect home.
Less competition from investors this Spring!
According to the auction data, twice as many investors are selling properties in Melbourne right now, rather than buying. Only 16% of buyers at auction are investors right now, but a whopping 30.5% of sellers were landlords offloading a home (realestate.com.au). Overall, mortgage lending is trending down with Westpac recording a 20% drop. CBA and NAB are down 15%. ANZ is down 12%. This means less competition both at auction or when negotiating!
Will buyers get lower home prices?
Generally buyers are expecting a trend to lower home prices. On the face of it this is happening – there was a reported drop in average Melbourne values of 1.2% through July (Cotality Home Value Index). This is a good opportunity for buyers, but bear in mind the figures are mostly skewed by drops at the higher end. Different factors always affect value, like property type and location. The most wanted properties are less likely to be discounted. The National media is reporting a general home value slump, but this is mostly in Perth, Adelaide, Brisbane and Sydney where prices really surged in the last couple of years.
Planning ahead. Are rate cuts expected now?
Analysts are now saying rates are likely to hold steady (Cotality). With no cuts expected until well into 2027. Two of the biggest banks are forecasting rate cuts around May (CBA) and June (NAB), with the others (ANZ, Westpac) saying the second half of 2027.
Buyer Marketing’s experience makes the difference
In these conditions, leveraging Buyer Marketings’ extensive property buying experience will help you get the best possible price and terms. Buyer Marketing will locate the best properties (which are often off market) and thoroughly analyse their value. We guide you through each step of the purchasing process and handle all the negotiations. There’s less stress. We make securing your perfect property smoother and easier. Call us today!
Peter Fox
Principal Advisor &
Licensed Estate Agent
Buyer Marketing

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