Melbourne Property News Monthly Wrap – July 2026
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Auctions numbers fall in July. Private sales dominate.
Over July’s four weekends the Real Estate Institute of Victoria (REIV) recorded more than 1,415 auctions. 873 properties sold. 626 at auction, with 337 passed in. 247 properties were sold before auction & 0 properties sold after auction. The clearance rate averaged 71.25%. 1,799 homes were bought by private sale.
It was a quiet July for auctions with 460 fewer than June and 566 fewer auctions than this time last year (REIV). Private sales however were up by 705 on last July. Realistically priced quality homes are selling and always will. Quieter conditions usually come in winter, but this time are the result mostly, from three consecutive interest rate hikes. This has reduced borrowing capacity and slowed the market. But Spring is coming in a month and the selling season will ramp up again.
Why this is a good time to upgrade
Home sellers moving in the same market right now can narrow the cost gap between their current home and a more expensive upgraded property. If your current home is worth around 1 million, it might be in a zone where values are down by 5% or so ($50,000). A nearby home valued at 1.5 million is likely to have been reduced by $75,000. So moving in the same market to buy that home means you are $25,000 ahead already. And buying at this point, when the market is in re-adjustment, means you are positioned to benefit best from the next value growth phase. No one knows exactly when that will be, but based on the property cycle, it will come!
Will there be another interest rate hike?
The next interest rate review is August 11. Whether we get another interest rate hike is anyone’s guess at this point. It depends whether previous hikes have dampened the economy enough to keep inflation down. So watch the inflation figures.
Investor sell off keeps sending apartment rents up
Increased running costs for owners and a general shortage of stock is sending both rents and yields up. Melbourne unit rents have increased around 5% over the last 12 months. Rental yields have climbed to almost 6% (NAB). The yields are now comparable to Gold Coast figures which are considered very high.
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Craig Knudsen
Principal Advisor
Vendor Marketing
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