The Victorian property market in March has shown a clear shift in momentum, with increased stock levels, softer clearance rates, and more selective buyer behaviour shaping auction conditions.

March saw a significant rise in auction volume across Melbourne and wider Victoria, continuing the strong listing activity that began in February. This increase in supply has provided buyers with greater choice, but has also placed downward pressure on clearance rates as the market adjusts to higher interest rates and affordability constraints.

Throughout the month, auction clearance rates fluctuated notably. Early March results remained relatively solid, with clearance rates around 54% to 57% in the first week. However, as the month progressed, results softened, with clearance rates sitting in the mid to high 50% range and dipping closer to the low 50s during quieter weeks.

So, what does this mean for sellers?

Auctions remain one of the most effective ways to create competition and drive strong outcomes, even in a shifting market. With the right strategy, auctions can:
• Create urgency and a defined timeline
• Encourage competitive bidding
• Provide transparency for both buyers and sellers
• Deliver premium results when buyer demand is activated

It is also important to understand that auction success is not just about what happens on auction day. When you look at key metrics such as average days on market, auction campaigns often outperform private sales by creating faster decision making and stronger buyer engagement. Even in scenarios where a property passes in, the auction process can still generate competitive tension and lead to strong post auction negotiations.

At the end of the day, it is about momentum, exposure, and putting your property in the best possible position to succeed, not just relying on a single moment under the hammer.

Remember, auction success does not happen by chance, it is a process. From tailored campaign strategies and buyer engagement, through to skilled auctioneering on the day, every step plays a critical role in achieving the best possible result.

At EYS, we are here to guide you through the process and help you achieve a standout result in any market conditions. Don’t forget to get in touch to book a pre auction meeting, or as we like to call it, an “Auction Strategy Meeting”.

This allows us to work with you and your clients ahead of auction day to develop a clear plan and put the right strategy in place to navigate the best possible outcome.