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Higher repayments usually make buyers pause. But if recent auction results are anything to go by, the story on the ground looks a little different.
Across Victoria, auctions are still drawing genuine crowds and real competition. Ray White’s latest figures show an average of 3.5 registered bidders per auction, with around 2.5 of those actively raising a hand. That’s not window shopping, that’s people ready to buy.
The clearance rate is telling the same story. Sitting at 68.6 per cent, it’s actually 1.1 per cent higher than this time last year. In a rising rate environment, that’s a solid result and a good reminder that property markets don’t always move in lockstep with headlines.
Part of this resilience comes down to the type of buyers in the market. Many are owner-occupiers who’ve been watching and waiting, and when the right home comes up, they’re prepared to compete. There’s also a sense among buyers that quality listings are still limited, which keeps pressure on well-presented homes.
Agents are reporting that bidders are more measured, but still decisive. People are doing their homework, understanding their limits and then competing confidently when it matters. That creates healthy auctions rather than frantic ones and that’s often where the best results are found.
The takeaway? While rate rises may shape behaviour, they haven’t stopped Victorians from buying. If anything, the current market feels considered but competitive. For sellers, that’s reassuring. For buyers, it’s a reminder that preparation and confidence still go a long way when the hammer falls.
