Expert guide to navigate Victoria’s unpredictable spring market

This spring has a lot of interuptions expected to bring frustration to homebuyers and sellers, but there are ways to make the most of it. Victorian homebuyers and sellers are heading into one of the most unpredictable spring markets in the state’s history. A price correction has already slashed Melbourne house values to 2021 levels, the auction clearance rate is averaging just above 50 per cent, and sellers are having to grapple with once in a generation changes to the way homes are sold. Buyers are also facing difficulties, with the number of homes for sale significantly below springs going back to at least the pandemic. September is not slated to achieve a single Super Saturday with more than 1000 auctions — usually common in spring. RELATED: Melbourne’s spring auction market faces softest start since Covid $65k blow: Melb houses worth less than 2021 Ousting Vic government ‘catalyst’ to save home prices, future boom towns revealed Meanwhile an interest rate hike could impact their borrowing capacity before the end of the month. SCROLL DOWN FOR BUYER AND SELLER TIPS + THE NUMBERS YOU NEED TO KNOW THIS SPRING REA Group economist Megan Lieu said they were expecting activity to be “w...