By Robert Larocca

Melbourne Auction Preview RP Data (image by news.com.au)

As volumes rise, there are 665 auctions scheduled this week in Melbourne compared to 637 for the same time last year.

The market returned to trend last week following the aberration the week before. Along with an increase in volumes, demand continues to build slowly in the lead up to spring when buyers will find more choice at auctions and improvement for the range of homes on offer.

On a Melbourne-wide basis, the number of days houses are taking to sell by private sale remained above 40 over the last week, higher than was the case over much of summer and autumn. The likelihood of the private sale market tightening substantially will be mitigated by the lack of growth in buyers based on mortgage market activity.

Key data

  • Clearance rate week ending 20 July: 68.4 per cent
  • Melbourne auctions expected week ending 27 July: 665
  • Melbourne private sales time on market week ending 20 July: 43 days (houses)
  • Melbourne vendor discounting market week ending 20 July: -5.2 per cent (houses)
  • Listings being prepared for market are 0.5 per cent lower in month ending 20 July (seasonally adjusted)

Robert Larocca
RP Data Victoria Housing Market Specialist

Source: RPD

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