Melbourne market shifting in favour of buyers: RP Data's weekend auction preview

There are 1,043 auctions scheduled this week in Melbourne compared to 1,124 for the same time last year.

The highest volume of auctions is in St Kilda with 23 expected, followed by Reservoir with 22 and Kew with 19.

In the auction market the increased volume has shifted the market in favour of buyers with a lower clearance rate resulting from the almost 2,000 auctions held over the past fortnight.

In the private sale market however sellers are seeing a peak in demand with lower days on market and reduced discounting prevalent.

On a city wide basis, the time on market results for houses sold at private sale tightened from 40 days to 37 days over the last week whilst vendor discounting fell from -5.1% to -4.9%.

Key data

•       Clearance rate week ending 12 October: 70%

•       Melbourne auctions expected week ending 19 October: 1,043

•       Melbourne private sales time on market week ending 12 October: 37 days (houses)

•       Melbourne vendor discounting market week ending 12 October: -4.9% (houses)

•       Listings being prepared for market are 4.3 per cent higher in month ending 12 October (seasonally adjusted)