Melbourne auction buyers face borrowing squeeze after fourth rate rise

Ray White Victoria and Tasmania chief auctioneer Luke Banitsiotis said committed buyers were still turning up despite the latest interest rate rise. A fourth rate rise may not scare Melbourne buyers away from auctions this weekend – but it could cut how high they can bid. Just 648 Melbourne homes are scheduled to go under the hammer this week, down 39 per cent from the same time last year, according to new REA Group data. The Reserve Bank lifted the cash rate another 25 basis points to 4.60 per cent on Tuesday, its fourth increase of 2026. RELATED: ‘Absolute steal’: Block’s $1.1m deal revealed ‘Massive alarm bell’: Vic’s housing crisis just got worse Ex-AFL champ’s $2.8m next move revealed Saturday will also mark Melbourne’s first auction weekend under part of Victoria’s new property price transparency regime, with agents now required to publish final sale prices within seven days of deals becoming unconditional. But compulsory seven-day reserve disclosure does not apply to this weekend’s auctions, with that requirement kicking in for auctions and fixed-date sales held from October 16. There is little sign of auction volumes bouncing back immediately either, with 738 Melbourne home...