Victoria recorded a preliminary 55.8 per cent clearance rate from 311 early results this week, realestate.com.au data shows.
Victoria’s peak real estate body is calling on Jacinta Allan’s government to reconsider its incoming revamp of the state’s auction rules as clearance rates plummet.
From October 1, agents will be required to publish a reserve price at least seven days before a residential auction or sale.
However, the Real Estate Institute of Victoria’s chief executive Toby Balazs said that the state mostly posting clearance rates of between 40 to 55 per cent across the past seven to eight weeks pointed to “an issue of confidence in the Victorian property market”.
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“With a looming deadline of October 1 for proposed auction changes, we implore the government to rethink what they’re doing,” Mr Balazs said.
“Because it’s going to make a challenging property market potentially tougher and it’s not going to be not going to be good for buyers, because it will push people to less transparent sale methods.”
According to realestate.com.au, Victoria recorded a preliminary 55.8 per cent clearance rate from 311 early results on Saturday.
But in the past four weeks previous to this one, initial weekend clearance rates in the early to mid fifties have been revised down a few percentage points, such as last week’s final 47 per cent result.
Real Estate Institute of Victoria chief executive Toby Balazs is urging the state government to rethink upcoming changes to Victoria’s auction regulations.
Melbourne’s median house value fell to $984,000 in June 2026, less than the same time 12 months earlier.
Mr Balazs said that while auction volumes were typically lower in the winter months compared to spring, it appeared homeowners were hesitant to bring their property to market because they didn’t have the confidence that it would transact.
“And that’s what we’re calling on the government to provide regulatory and tax settings to encourage investment in Victoria and provide confidence for people to want to transact as opposed to the challenge at the moment which is lack of clarity,” he said.
In June, Premier Jacinta Allan’s government announced news laws requiring agents to publish a reserve price at least seven days before a home’s auction or sale following October 1, 2026. Picture: NewsWire/Valeriu Campan.
11 Christina Court, Werribee, sold for $796,500 on Saturday.
Hocking Stuart Werribee’s Justin Tong had the listing for a three-bedroom home at 11 Christina Court, Werribee, which sold for $796,500 on Saturday, after five bidders vied for the keys.
Mr Tong said that at the moment, quality homes in good locations were selling if they were priced realistically.
However, the agency director said he believed the market could get worse before it improved in light of the Australian government’s changes to capital gains tax and negative gearing, announced in May.
“Unfortunately I don’t think the worst is behind us yet but the encouraging part if is you’ve been maintaining a property well and you’re realistic about price, you will get a good result,” Mr Tong added.
32 Allumba Drive, St Helena, was another successful weekend auction.
In Melbourne’s north east, a three-bedroom house at 32 Allumba Drive, St Helena, fetched $930,000 when it sold to a family.
“There were about four buyers in the crowd but only two bid,” Ray White director Shane Leete said.
“It was listed for $850,000 to $910,000 and the first offer was a ridiculous $700,000 which made the crowd laugh.”
Mr Leete said his agency was currently urging vendors to opt for auctions rather than private sales.
He said auction were “safer” for homeowners as they offered unconditional purchases without some of the attached conditions that other sales methods could involve.
“You have a better chance of finding the right buyer as well,” Mr Leete said.
“Sometimes if a home passes in, they will be in the crowd and call you on the Monday following the auction.”
This three-bedroom house at 2/2 Lyne Grove, Brunswick West, sold under the hammer on Saturday.
And a house at 2/2 Lyne Grove, Brunswick West, changed hands for $785,000, slightly above the $775,000 reserve.
Nelson Alexander’s Tee Kingkloiklang said that out of two bidders, a young couple who were first-home buyers won the day.
Ms Kingkloiklang said properties priced below $1m were doing well, thanks to a federal government scheme which allows eligible first-home buyers to purchase with a 5 per cent deposit without paying Lenders’ Mortgage Insurance, on Melbourne properties which cost $950,000 or less.
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