RP Data's Melbourne weekend auction preview for October 5-6

RP Data is expecting 826 auctions in Melbourne this week. After this week there are another 11 weekends for auctions to be held before Christmas and by using last year as a guide we can estimate around 10,000 homes will be offered at auction.

• Preliminary clearance rate week ending 29 September: NA (low volume)

• Melbourne auctions expected week ending 5 October: 826

• Melbourne private sales time on market week ending 29 September: 39 days (houses)

• Melbourne vendor discounting market week ending 29 September: -6.2% (houses)

• Listings being prepared for market: 8.6% higher in month ending 29 September

RP Data is expecting 826 auctions in Melbourne this week. After this week there are another 11 weekends for auctions to be held before Christmas and by using last year as a guide we can estimate around 10,000 homes will be offered at auction.

Of those 10,000 auctions this years trend would suggest around 7,000 will be sold at or before the auction. The majority of those passed in will be negotiated over as the vendor and buyers seek to agree over price and terms.

Across the broader market there continues to be very strong listings as Victoria lead the nation for homes being prepared for sale for the second week in a row.