Maraging steels show an excellent combination of high strength and ductility, which makes them very attractive in a large variety of potential applications. The present work is concerned with the main factors influencing the stability of metastable austenite in such a steel. At subzero temperatures a large variation in the isothermal transformation behaviour of austenite to martensite has been observed. Factors such as the austenite grain size and the interstitial content in solid solution are known to influence austenite stability and, therefore, the martensitic transformation. In this steel, the addition of titanium results in carbonitride precipitation. These precipitates play an indirect but important role in the stability of austenite by means of removing interstitials from the solid solution and by inhibiting an austenite grain growth. The combination of techniques such as X-ray diffraction, magnetisation measurements, three-dimensional neutron depolarisation, and internal friction measurements enables a complete characterisation of the transformation. A step towards understanding the factors responsible for the variation in the behaviour observed is the main contribution of this work.