26/03/2026
Dr Nicola Powell
Chief of Research and Economics
Melbourne has seen an increase in total listings, improving choice for buyers, although stock levels remain marginally lower than a year ago following a period of elevated supply. Conditions are more balanced than other capitals, and the level of available listings is beginning to weigh on competition. Auction clearance rates declined to their lowest February level since 2019 and have softened further into March. This is starting to show in broader market conditions, with days on market and discounting edging higher. As interest rates rise, Melbourne’s more price-sensitive market is likely to see a slower and more uneven pace of growth.