Share of Melbourne homes selling above reserve plunges to new low

An Albanese government decision in May appears to have left Victorians going to auction this spring worse off than they were. Grim new data has revealed a growing share of Melbourne home sellers are letting their home go at auction for less than their reserve price. The share of sellers getting their reserve price at auction has plunged to its lowest level since at least 2023, with just 47 per cent of sellers getting more than they’d hoped for at the start of spring this year according to Ray White auction data. It also means 53 per cent are getting less than they had hoped — or not selling. With the figure below the low 50 per cent clearance rate Melbourne has notched over the past few weeks, it suggests a sizeable portion of sellers are letting homes go for less than their reserve. RELATED: Vic homeowners facing $167bn wipeout Expert guide to navigate Victoria’s unpredictable spring market Vic Premier Ben Carroll enacts new Vic landlord’s law with $26k sting It’s challenging news for home sellers, with 717 of them testing the market this week — far below the almost 1200 that occurred in the same week in 2025, according to REA Group data. By contrast, the share of owners selling a...