Beckett Property Market Review for March 2023


As the air begins to cool, so typically does the property market. However, if these last 12 months have shown us anything, it’s that best laid plans and forecasting is at best speculative. With news of a suspected interest rate pause in April, we are expecting a return of confidence sooner than expected – and with this, the potential for an influx of buyers.

In March we noticed more traction in the property market and slightly increased stock levels as vendors rushed in to beat the Easter break and school holidays. This resulted in a larger number of property transactions and very competitive results. Overall stock levels still however remain approximately 35% lower compared to this time last year, which is keeping prices relatively at bay.

According to the REIV’s latest results, 2,965 auctions were reported for the month of March, and the overall auction clearance rate remained hot at 74.7%

Saturday 1st April is predicted to be a super auction weekend as vendors have pushed their campaigns to go under the hammer before the Easter break. The REIV predicts 1,310 homes to go to auction this coming weekend.

At Beckett, we embrace the changes to our city and varying market conditions. We constantly strive to source new opportunities for our clients and unlock the potential of each property to create remarkable lifestyles within the Melbourne community.

Our commitment and dedication to our clients has firmly established our position as one of Melbourne’s most successful, consistent, and creative Buyers Advocates. Our company is built on the foundation of experience, industry and economic knowledge, ethical advice, networks, relationships, world-class customer service and optimal results.

If you are thinking about buying a property in Melbourne in 2023, please feel free to contact us at [email protected].

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