Melbourne buyers risk missing out waiting for rate cut as auction market heats up
A rate cut could shake up Melbourne’s property market, and experts suggest buyers who wait may pay the price. Here’s why timing your sale could be the smartest move.
Melbourne buyers who were holding off buying a home could face tougher competition later in the year, with property experts warning a RBA rate cut could cause an immediate surge in activity.
PropTrack data shows 843 auctions are scheduled across Victoria this week — an 18 per cent drop from the same time last year — as homeowners hesitate amid economic uncertainty.
But experts suggest vendors waiting to sell could be a costly mistake, with buyer demand still strong for move-in-ready homes.
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Mount Waverley and Wollert host the most auctions this weekend with 14 each, followed by Bentleigh East, Craigieburn, and Doncaster East.
Victoria’s clearance rate last weekend was 66 per cent according to PropTrack.
Prop Culture property advocate Tabitha Robb said competition remains strong for well-presented homes in top-performing school zones and close to transport, while buyers are steering clear of major renovation projects.
“Buyers are prioritising well-proportioned bedrooms, high-end fixtures, and functional kitchens over renovation projects,” Ms Robb said.
“A bright, open kitchen and practical living spaces can make a big difference in attracting competitive bidding.”
Prop Culture’s Sam Davenport said Melbourne’s inner-east, Bayside, and inner-north remain highly competitive, with Chelsea and Aspendale drawing interest for affordability and lifestyle benefits.
She also stressed that sellers who invest in fresh paint, flooring, and professional styling could see significantly higher returns at auction.
Apollo Auctions Victoria director Andy Reid warned that sellers waiting for an RBA decision may regret it, as a rate cut could flood the market with competition.
“Buyers will find it increasingly difficult to buy as competition ramps up,” Mr Reid said.
“Sellers who wait will be listing at a time when more homes are available, and they could struggle to stand out.”
Experts say presentation and smart pre-sale updates remain critical for maximising auction results, with fresh paint, updated flooring, and professional styling making a significant impact on final sale prices.
Mr Reid said with buyer demand strong now and auction stock still below last year’s levels, sellers who act quickly can capitalise on reduced competition and secure a premium price before the market shifts later in the year.
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Originally published as Melbourne buyers risk missing out waiting for rate cut as auction market heats up
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