RP Data's Melbourne weekend auction preview for September 28-29

Robert LaroccaSep 26, 2013
RP Data is expecting only 80 auctions across Victoria this week with 64 in Melbourne alone. The auction market typically takes a break each year at this time to allow vendors and real estate agents to enjoy the AFL Grand Final. Incidentally there are seven auctions scheduled in Perth with all except one on Sunday.
  • Final clearance rate week ending 22 September: 75.9%
  • Melbourne auctions expected week ending 29 September: 64

  • Melbourne private sales time on market week ending 22 September: 40 days (houses)

  • Melbourne vendor discounting market week ending 15 September:  -6.3% (houses)

  • New listings in Victoria: 7.9% higher in month ending 22 September

After this weekend’s hiatus the market will enter a very busy period until Christmas on a very strong footing with eight consecutive weeks of clearance rates in excess of 70%.

Over the past four weeks the median price of houses sold by private sale in Melbourne has been $460,000 which is only a minor variation on the $455,750 recorded a month ago. The moderate nature of price growth in Melbourne is also shown in the RP Data-Rismark Home Index which has shown a 1% rise in prices over the past month.


Robert Larocca is Victorian housing market specialist for RP Data.

 

Robert Larocca

Robert Larocca is Victorian housing market specialist for CoreLogic RP Data.