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




