RP Data's Melbourne weekend auction preview

RP Data is expecting over 1,020 auctions across Victoria this week with around 910 in Melbourne alone.

• Clearance rate week ending 8 September: 74.7%

• Melbourne auctions expected week ending 15 September: 910

• Melbourne private sales time on market week ending 1 September: 38 days

• Melbourne vendor discounting market week ending 1 September:  -5.9%

• New listings in Victoria: 5.3% higher in month ending 8 September

This will provide a substantial test for the market and the increase in stock is also mirrored in the private sale market with new listings growing in seasonally adjusted terms over the past week.

As is often the case at this time of the year leading indicators point to a market slowly picking up pace with clearance rates at trend, time on market reducing for private sales and listings increasing. The test will be if this is matched by more buyers than this time last year.