Highest proportion of homes for sale this year in Mornington Peninsula: RP Data's Melbourne auction preview

There are 851 auctions scheduled this week in Melbourne compared to 822 this weekend last year.

It’s interesting to note that the suburbs which have had the highest volume of houses for sale as a proportion of the total number of homes over the past year, are found in the Mornington Peninsula.

Mount Eliza had 8.6% of its housing stock on the market followed by 7.9% in Mount Martha and in Safety Beach. At the other end of the spectrum is the highly sought after Fitzroy North where a mere 2.6% of houses were on the market. Given the high demand in Fitzroy North there is no doubt that if more homes were on the market they would find sellers.

Conditions remain tight in the private sale market with time on market for houses stable at 33 days and vendor discounting also stable at -5.6%.

Key data

Preliminary clearance rate week ending 20 April: 63%

• Melbourne auctions expected week ending 4 May: 851
  
  
• Melbourne private sales time on market week ending 27 April: 33 days (houses)
  
  
• Melbourne vendor discounting market week ending 27 April: -5.6% (houses)
  
  
• Listings being prepared for market are 13.5% higher in month ending 27 April (seasonally adjusted)