We’re seeing a clear lift in energy across the Melbourne market this spring. Auction activity has been strong throughout October, with clearance rates holding around 70% — a healthy sign of ongoing buyer confidence despite elevated interest rates. Stock levels have risen from winter lows, but remain below long-term averages, keeping competition tight for quality properties.

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We’re also seeing some standout results that reflect this renewed momentum. We bid at auction for 115 Eastern Road, South Melbourne, where the top end of the price range was $3.6 million — it ultimately sold under fierce competition for $4.507 million. Similarly, 54 Durham Street, Port Melbourne achieved $4.59 million, and 16B Harding Street, Highett sold for $1.97 million, both strong indicators of buyer demand for turnkey homes in well-connected suburbs.

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Looking ahead, we expect Melbourne’s property market to maintain its steady upward trajectory into summer. With potential rate cuts on the horizon and sustained population growth underpinning demand, the outlook remains positive. We’re seeing particularly strong engagement across the middle-ring and bayside suburbs, and anticipate continued momentum as we move toward the end of 2025.