More than 900 homes will be auctioned across Victoria this week, including 893 in Melbourne itself, according to realestate.com.au. Picture: Jake Nowakowski.
New Melbourne real estate listings dropped by 11.2 per cent between April and May amid decreasing auction clearance rates and the city’s falling home prices.
However, realestate.com.au data shows the amount of stock on the market remains “solid” as Victoria gears up for 919 homes to go under the hammer this week, following a 51 per cent clearance rate last week.
The property website’s latest Market Outlook report, released this week, stated that auction clearance rates in Melbourne have softened across 2026 following a trend which started in spring 2025.
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The Victorian capital’s median house price fell from $1.005m in April to $995,000 in May. However, homes are typically spending 30 days on the market before selling, a figure that hasn’t changed since January.
REA Group senior economist Angus Moore said although it was traditional to see listing numbers decrease in the lead-up to winter and the school holidays, accounting for the drop in May, the overall amount of Melbourne housing stock on the market had increased across the year to May 30.
PropTrack senior economist Angus Moore says Melbourne buyers could see less competition at some auctions this week.
Mr Moore said that the report showing “relatively solid volumes” of Melbourne homes for sale was good news for buyers.
“It doesn’t mean the home that you are particularly after will be less competitive but on average, we are seeing a bit less competitive condition,” the economist added.
“And we’re seeing that showing up in the fact that clearance rates have softened and that prices have softened.”
According to realestate.com.au, the Melbourne suburbs with the most auctions scheduled this week are Bentleigh East with 19 auctions, Mt Waverley with 15 auctions and Tarneit with 14 auctions.
The Reserve Bank’s decision not to increase rates earlier this week would boost buyer confidence too, Mr Moore added.
Ray White Victoria chief auctioneer Luke Banitsiotis said that recently, auctions conducted by his agencies had recorded a combined clearance rate of above 60 per cent each week.
“That probably indicates that the market is somewhat stabilising,” Mr Banitsiotis said.
The majority of Ray White’s Victorian offices are based in the Melbourne metropolitan area.
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