All-time record number of auctions: RP Data's Melbourne weekend preview
There are 1,641 auctions scheduled this week in Melbourne compared to 1,619 for the same time last year. This is an all-time record for the Melbourne auction market.
This highest volume of auctions will be found in Brighton and Richmond where 27 are expected followed by 25 in Hawthorn, 24 in Reservoir and 23 in both Brunswick and St Kilda.
Prior to this week, the previous record number of auctions was the same week last year. Over the past few years this week in October has regularly featured the peak number of auctions for each of the years as sellers avoid the following week due to Derby Day and the Melbourne Cup.
On a city wide basis, the time on market results for houses sold at private sale tightened from 37 days to 36 days over the last week whilst vendor discounting fell from -4.9% to -4.8%.
Key data
- Clearance rate week ending 19 October: 71.2%
- Melbourne auctions expected week ending 26 October: 1641
- Melbourne private sales time on market week ending 19 October: 36 days (houses)
- Melbourne vendor discounting market week ending 19 October: -4.8% (houses)
- Listings being prepared for market are 4.7% higher in month ending 19 October (seasonally adjusted)
