An appraisal in April 2026 is subject to increased volatility following RBA rate hikes in February and March 2026. While 2025 saw median house prices increase by 11–14%, the Melbourne auction clearance rate for the week ending 11 April 2026 fell to 59.1% (CoreLogic/Cotality), indicating a shift in buyer urgency.
The accuracy of a current appraisal depends on its ability to account for a sudden transition from the strong recovery of 2025 to a more cautious buyer environment. The RBA’s February and March 2026 rate hikes have introduced new uncertainty, dampening the urgency seen in previous months (Domain).
The impact of recent RBA rate hikes
Recent rate hikes have pushed Melbourne’s auction clearance rates below the 65–72% range generally considered a balanced market. For the week ending 11 April 2026, the clearance rate was 59.1%, the first sub-60% result of the year (CoreLogic/Cotality).
Vendor expectations versus buyer behavior
There is a disconnect between listing volumes and buyer demand. Listings have increased nearly 40% since December 2025, with appraisals surging over 75% month-on-month into early 2026 (Raine & Horne), yet buyer urgency has dampened (Domain).
Comparing current prices to 2025
Current price data shows a year-on-year decline. The Melbourne median auction price for houses was $937,500 for the week ending 11 April 2026, which is 6.3% lower than the $1,001,000 recorded for the same week in 2025 (CoreLogic/Cotality).
The appraisal spread risk
The primary risk is the gap between the improved vendor confidence established in late 2025 and the actual results achieved at auction. With house clearance rates at 57.2% (CoreLogic/Cotality), there is a higher likelihood of properties failing to meet optimistic price guides.
| Metric (Week Ending 11 April) | 2026 Result | 2025 Result |
|---|---|---|
| Melbourne Clearance Rate | 59.1% | 66.8% |
| Median House Auction Price | $937,500 | $1,001,000 |
Frequently asked questions
Is Autumn a good time to sell in Melbourne?
Autumn, spanning March to May, is typically Melbourne’s second-strongest selling season. It often features lower competition from other vendors compared to Spring. However, the February and March 2026 RBA rate hikes have introduced new caution among buyers, affecting current outcomes (Domain).
Why are clearance rates falling in April 2026?
Clearance rates have dropped because the RBA implemented rate hikes in February and March 2026. This has dampened buyer urgency, leading to the first sub-60% clearance rate of the year at 59.1% for the week ending 11 April (CoreLogic/Cotality).
How did 2025 price growth affect current valuations?
Melbourne median house prices increased by approximately 11–14% over 2025, which boosted vendor confidence. However, this growth has met resistance in 2026, with current median auction prices sitting 6.3% lower than the same week in 2025 (CoreLogic/Cotality).
Are more homes being listed in the current market?
Yes, listing volumes have increased significantly. Raine & Horne reported that listings were up nearly 40% since December 2025. This increase in supply, combined with RBA rate hikes, is contributing to the current market adjustment and lower clearance rates.
Questions to ask your agent
- How have the February and March RBA rate hikes specifically changed buyer behavior at open for inspections in my suburb?
- Given the 57.2% house clearance rate, what is the current risk of my property passing in at auction?
- What recent comparable sales from the last 30 days justify this appraisal range, rather than relying on 2025 growth data?
This article contains general market information based on data current as at April 2026. It does not constitute financial, legal, or real estate advice specific to your property or circumstances. For an appraisal and tailored advice, speak with a Fletchers agent in your area.