Melbourne Property News Monthly Wrap – April 2026

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Melbourne Property News Monthly Wrap

Buyers more selective as April brings global jitters

Over April’s four weekends the Real Estate Institute of Victoria (REIV) recorded more than 1,623 auctions. 947 properties sold. 671 at auction, with 362 passed in. 276 properties were sold before auction & 0 properties sold after auction. The auction clearance rate in April averaged 74.33%. 1,679 homes were bought by private sale, almost double the number of properties sold at auction.

Clearance rates ease in Autumn

Auction numbers in April diminished with Easter, School Holidays and Anzac Weekend. Otherwise the market remained resilient, although the clearance rates eased. Through late 2025 and early 2026 around 30% of homes going to auction were passed in on the day, but in March and April it has been sitting at around 50% (RESI). Private sales however are still booming. 

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Unit rents surge higher than houses

In a stunning development units are now more expensive to rent in Melbourne than houses. Market data published in the latest Domain Rental Report shows the average asking rent for a unit in the city has risen to $600 a week. This is up from $575 last December. It’s more than the average rent for Melbourne houses, which is $590. The market can certainly twist and turn in unexpected ways. A combination of factors have brought the unit rent surge – the growing popularity of apartment living, workers determined to live close to the CBD, investors selling up their investment units, plus high immigration. 

Entry level homes are getting the most growth

First home buyers aided by government schemes are still driving prices up for entry level homes. Over the last six months, homes with estimated values below the 5% deposit guarantee caps grew 6.7%, compared to 3.6% for higher-priced homes (Cotality). This puts those more affordable homes (and suburbs) in the highest value growth category. Wherever competition is hottest, values will heat up too.

Realestate.com.au nominated seven of Melbourne’s more affordable suburbs in its ‘Hot 100’ Australian suburbs for value growth this year. They are Cranbourne East, Clyde North, Footscray, Lalor, Lilydale, Tarneit and Werribee.

The bullish view many market analysts had, including the big banks, anticipating substantial value growth across Melbourne in 2026 is looking more like any growth will be limited to certain categories and suburbs. 

The most important thing a home seller needs to know

Selling your home is an important life move and a critical opportunity to advance your wealth and prosperity. It’s an important time to make sure your hard work and planning pays off as much as possible. Doing it right, means getting every step of the sale process right. Vendor Marketing’s proven strategies guide you at each stage towards the best outcome for you, the seller. The anxiety about unknowns or surprises is eliminated. Our experience keeps the home preparation, agent selection and marketing on course at every point. Call today to hear more about achieving your best possible sale outcome!

Craig Knudsen
Principal Advisor
Vendor Marketing

Brought to you by Vendor Marketing – Melbourne’s most qualified vendor advocates

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