Another 1,000 plus auctions this weekend: RP Data's Melbourne auction preview

Another 1,000 plus auctions this weekend: RP Data's Melbourne auction preview
Another 1,000 plus auctions this weekend: RP Data's Melbourne auction preview

There are twice as many auctions this week as there was this time last year. This week RP Data is expecting 1,120 auctions in Melbourne compared to only 554 this time last year.

Last weeks result showed that increased stock numbers at auction and in the market generally are having an impact with a comparatively low clearance rate recorded.

The increased stock numbers should be welcomed by buyers as it acts to moderate price growth in what is an otherwise tight market.

Key data

  • Preliminary clearance rate week ending 30 March: 66.9%
  • Melbourne auctions expected week ending 6 April: 1,120
  • Melbourne private sales time on market week ending 30 March: 35 days (houses)
  • Melbourne vendor discounting market week ending 30 March: -5.5% (houses)

Robert Larocca

Robert Larocca

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

Tags: 
Victoria Auctions Melbourne

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