The arrival of spring brings increased listing stock and rising buyer activity across Victoria. Recent Real Estate Institute of Victoria (REIV) data points to solid transaction activity, consistent auction clearance rates, and targeted growth across broader metropolitan corridors and regional Victoria.

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Key Auction and Selling Statistics

What do current auction clearance rates show?

REIV recorded clearance rates holding firm at 73% through September, rising from sub-70% figures in late winter. This steady level indicates consistent buyer engagement as new spring stock arrives on the market.

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How fast are properties selling in Melbourne?

- Average Selling Times: Average time on market across Metropolitan Melbourne sits between 32 to 39 days, with high demand pockets transacting significantly faster.

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- Rental Yields and Vacancies: Metro vacancy rates remain tight at 1.7%, supporting strong gross yields for units averaging around 5.2%.

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Metropolitan Market Performance

How is Greater Melbourne performing this spring?

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Greater Melbourne presents clear opportunities across distinct property categories and price points:

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- Outer Ring Growth Corridors: Strong demand for entry level housing is driving expansion across outer western and northern corridors. Annual house price growth in key outer municipalities has reached up to 14.9%, underpinned by buyers taking advantage of state stamp duty exemption thresholds.

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- Units and Apartments: Infill and outer ring units continue to perform well. Select coastal and middle ring corridors have recorded annual unit price growth of up to 23.8%, alongside strong engagement across outer growth corridors.

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Regional Victoria Leads Annual Growth

Are regional Victorian house prices still rising?

Regional Victoria continues to outperform broader metropolitan averages, with regional median house prices holding at $650,000 and unit medians reaching $458,000 over the past year.

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Standout regional performance includes:

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- Major Regional Hubs: Select regional centres in key inland corridors have recorded annual house price increases exceeding 27%, supported by ongoing regional migration and infrastructure investment.

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- Regional Unit Expansion: Key regional cities led the state in unit price expansion, with top performing regional centres recording up to a 39.2% annual increase in REIV reporting.

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Navigating the Market Moving Forward

With clear pricing metrics and steady clearance rates across the state, spring presents a functional environment for buyers and investors alike.

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Navigating diverse growth corridors across Melbourne and regional Victoria requires accurate local research, true value analysis, and tailored strategy. Having an experienced advocate in your corner ensures you target the right locations and secure property with total confidence.

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Contact the team at Peritum Property today to discuss your buying plans for the spring season.

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