Victorian market preview for week ending 20 October

  • Clearance rate week ending 13 October: 74 per cent
  • Melbourne auctions expected week ending 20 October: 1,046
  • Melbourne private sales time on market week ending 13 October: 39 days (houses)
  • Melbourne vendor discounting market week ending 13 October: -6 per cent (houses)
  • Listings being prepared for market are 7.1 per cent higher in month ending 13 October

Victoria clearance ratesLast week saw Melbourne record the 11th consecutive weekly clearance rate in excess of 70 per cent.

RP Data is expecting 1,046 auctions in Melbourne this week and 1,168 across Victoria.

This week will be followed by the largest for auctions in the state’s history with 1,628 expected, 1,500 of those in Melbourne and 1,396 on Saturday alone.

These conditions will provide a high level of choice for buyers and will not only provide favorable negotiating conditions but also help with the often difficult task of finding the special home that they have been searching for. It is often forgotten that low stock levels can act to dampen the market as buyers can’t find the home that meets their needs.

Robert Larocca
RP Data Victoria Housing Market Specialist

About Robert Larocca

Robert Larocca has built a profile over the past eight years as an expert on the Victorian residential property market. He worked for the REIV both directly and as a consultant over 8 years acting as a spokesperson, managing its research department and public policy. He has been a media and government relations consultant and spent a decade working across the three levels of government including as a Councillor and Mayor in the City of Moreland. He has well developed leadership skills in the not for profit sector and has been the Chairperson of CERES Community Environment Park for 9 years.

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