By Robert Larocca

RP Data Melbourne Market preview

There are 527 auctions scheduled this week in Melbourne compared to 426 for the same time last year.

The Melbourne market has been delivering consistent results for sellers in the past 4 weeks with very little change in the weekly clearance rate.

A review of the change in house values on a suburban basis shows that the largest increase over the last year was found mainly in inner city suburbs. Middle Park, Hawthorn East, Braybrook, Balwyn North and Praharan comprised the top 5 with changes in median value of between 43.2 per cent and 24 per cent. For apartments the top 5 included Caulfield East, Middle Park, Canterbury, Flemington and Spotswood.

The average time on market for houses sold last month rose sharply from 35 to 40 days despite average discounting being stable at -5.3 per cent over the previous week.

Key data

  • Clearance rate week ending 6 July: 71.4 per cent
  • Melbourne auctions expected week ending 13 July: 527
  • Melbourne private sales time on market week ending 6 July: 40 days (houses)
  • Melbourne vendor discounting market week ending 6 July: -5.3 per cent (houses)
  • Listings being prepared for market are 0.5 per cent lower in month ending 6 July (seasonally adjusted)

Robert Larocca
RP Data Victoria Housing Market Specialist

Source: RPD

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