Melbourne's auction clearance rate held near 58% this weekend as volumes rebounded past 800, while the national average slid to a spring low of 43%, dragged down by Brisbane's 20.7%. REIV's results portal was offline at time of writing, so figures below draw on Domain and My Housing Market. A new Victorian law also now forces agents to publish reserve prices seven days before auction — a genuine win for buyer certainty.
Melbourne's auction market reported a clearance rate of roughly 58% for the weekend of 24–25 October 2026 (My Housing Market/PropertyUpdate), on a rebound in volume to 838 auctions — up sharply from 553 the prior week. Domain's own preliminary count, against the 618 auctions it had reported results for, put the figure at 56% (347 sold), with 171 passed in and 100 withdrawn, for total reported sales of $297.0 million and a median of $1,181,000.
We'd normally lead with REIV's confirmed final numbers — our mandatory primary source for Victorian auction data. Its portal was showing a technical outage notice at time of writing, so REIV's figures are data pending; we'll update this post once published. Domain and My Housing Market's independently collected figures tell a consistent story: Melbourne eased only slightly despite a wave of new listings, and stayed well clear of the national average.
National Snapshot: The Softest Spring Reading Yet
Across the five major capitals tracked by My Housing Market, the straight average clearance rate fell to 43.4% this weekend — down from 46.5% the prior week and 23.8 points below the 67.2% recorded a year ago. Weighting by auction volume lifts the figure closer to 50%; a simple average understates the market when low-volume Brisbane carries the same weight as high-volume Sydney and Melbourne. Either way, it's the softest reading of the spring, and the fourth straight week of year-on-year declines.
State-by-State Auction Results: 24–25 October 2026
| Market | Clearance Rate | Prior Week | Same Week Last Year | Auctions | Source |
|---|---|---|---|---|---|
| Melbourne | ~58% | 56.5% | 69.4% | 838 (My Housing Market) / 618 reported (Domain) | My Housing Market / Domain |
| Sydney | 51.0% | 58.7% | 75.1% | 885 | My Housing Market |
| Brisbane | 20.7% | 19.6% | 52.9% | 200 | My Housing Market |
| Adelaide | 33.0% | 31.7% | 74.4% | 152 | My Housing Market |
| Canberra | 53.7% | 65.9% | 64.0% | 66 | My Housing Market |
| National (5-city average) | 43.4% | 46.5% | 67.2% | 2,141 | My Housing Market |
| Melbourne (REIV, final) | Data pending — REIV portal offline at time of writing | REIV | |||
Note: Melbourne's figures are preliminary counts from Domain and My Housing Market, pending REIV's confirmed result. Other states cover the week ending 24 October 2026 (My Housing Market/PropertyUpdate). The national figure is an unweighted average across Sydney, Melbourne, Brisbane, Adelaide and Canberra; Perth isn't separately tracked by this source.
Melbourne in Focus: A Resilient Result Despite More Listings
The standout feature of Melbourne's weekend was volume, not clearance. With 838 auctions reported — up sharply from 553 the week before — sellers clearly judged spring's final stretch before Melbourne Cup was worth testing. Clearance held broadly steady despite the extra stock, telling us buyer demand grew roughly in step with supply.
By property type, houses cleared at 55.8% with a median of $1,254,000 (up 7.1% year-on-year), while units outperformed at 67.1% — borrowing-constrained buyers continuing to compete harder for lower-priced stock. Regionally, the North East led the city at 63.9%, while the South East was softest at 44.0%.
IFG's core service corridor sits in that stronger North East/North West band. Essendon, Moonee Ponds and Coburg continue to show the owner-occupier-driven resilience we'd expect from tightly-held suburbs, while Keilor East and Taylors Lakes further west stay attractive to buyers priced out of the inner city — exactly the pockets where a ready pre-approval makes the biggest practical difference on auction day.
What's Driving the Market Right Now
1. The RBA meets on Melbourne Cup Day — and the banks are split. The cash rate has sat at 4.60% since the RBA's 29 September rise, and the Board's next decision lands on 3 November 2026. ANZ and Westpac are tipping a further rise, with reports CBA is moving the same way, while others still see a hold as plausible. Market pricing sits close to even money, tilted slightly toward a rise — a genuine variable for anyone bidding over the coming fortnight.
2. Victoria's new reserve price disclosure law is now in force. Since 16 October 2026, agents must publish the seller's reserve price — a single dollar figure, not a vague range — at least seven days before an auction or fixed-date sale, or the sale cannot proceed. A new Property Price Statement replaces the Statement of Information, and sale prices must now be published within seven days of an unconditional sale. Cotality has flagged this as a possible factor behind shifting listing timing in Melbourne. For buyers, the upside is real: you see the reserve in writing well ahead of auction day, removing much of the guesswork.
3. Brisbane's weakness is pulling the national average down. At 20.7%, Brisbane recorded its weakest spring result, against 52.9% in the same week last year. Extra spring listings there simply aren't being matched by demand — a reminder that "the national market" is really several different local stories.
What This Means for Melbourne Buyers and Investors
Two near-term catalysts are in play together: the 3 November RBA decision, and a disclosure regime giving buyers clearer pricing than at any point in recent memory. Together, they argue for settling your finance position now. Use the IFG mortgage calculators to stress-test repayments at both 4.60% and a hypothetical 4.85%, so a Cup Day move doesn't catch your budget off guard.
For buyers weighing a first home purchase, use the disclosure rules deliberately: once a reserve is published seven days out, finalise your maximum bid and confirm your pre-approval covers it. Investors across the north and west should note the unit-over-house gap persists — our investment lending team can discuss what that means for yield, and refinancing ahead of 3 November is worth a look regardless of whether you're buying.
IFG's Take
This weekend's numbers read as resilience rather than retreat for Melbourne. Absorbing an extra 285 auctions without a meaningful clearance wobble is a good sign for sellers and a useful data point for buyers weighing whether now is the time to act.
The reserve disclosure change deserves more attention than it's getting. We've seen clients badly misjudge the gap between a vague price guide and the real reserve — that risk is now reduced, since the figure must be published in writing a week out, by law. Pair that transparency with a current pre-approval and you're negotiating from genuine strength. We won't predict the RBA's Cup Day move, but we will make sure clients aren't exposed if one comes. If you'd like your position assessed across a deliberately broad panel of bank, non-bank and specialist lenders — by a director, same business day — get in touch before the long weekend.
Talk to IFG About Your Melbourne Property Strategy
Integrated Finance Group is a boutique, director-led team of Melbourne mortgage brokers. Brian Hermosilla and Frank Marin bring 45+ years of combined experience, including business banking since 2003 (formerly NAB). Whether you're buying at auction, reviewing investment lending, or refinancing ahead of the November RBA decision, enquiries are answered the same business day — by a director. Call 0401 333 636.
Get in Touch Today First Home Buyer Guide →This article is general information only and does not constitute financial or credit advice. Victorian auction data is sourced from REIV where available; REIV's portal was unavailable at publication, so Melbourne figures here are drawn from Domain and My Housing Market/PropertyUpdate (week ending 24 October 2026) and will be updated once REIV's confirmed figures are published. National and other state figures are sourced from My Housing Market/PropertyUpdate. Reserve price disclosure information is sourced from Consumer Affairs Victoria. Property decisions should be made with a qualified financial adviser; tax implications should be discussed with your accountant. Past performance is not a reliable indicator of future results. Credit subject to lender approval.
Frequently Asked Questions: Weekend Auction Results
- What does it mean when a property is "passed in" at auction?
- A property is "passed in" when bidding fails to reach the vendor's reserve price and the auctioneer declares it unsold on the day. It doesn't mean the sale is dead — the highest bidder is typically given first right to negotiate privately with the vendor afterwards, and many passed-in properties sell within days close to the final bid.
- Why did Melbourne's auction clearance rate differ between Domain and My Housing Market this week?
- Domain calculated its 56% figure against auctions actually reported to it (618 of 838 scheduled), while My Housing Market's 58.5% uses its own collection method and a different base. Both are preliminary, independent counts rather than REIV's confirmed final figure, so some variance between sources in the same week is normal and doesn't mean either is wrong.
- How does Victoria's new reserve price disclosure law change buying at auction?
- Since 16 October 2026, Victorian agents must publish the seller's reserve price at least 7 days before an auction or fixed-date sale, in a single dollar figure, or the sale cannot proceed. For buyers, this removes much of the guesswork around underquoting — you can see the reserve in writing well before auction day and plan your maximum bid and finance accordingly, ideally with a current pre-approval already in hand.