RP Data's Melbourne weekend auction preview for October 12-13

RP Data is expecting 970 auctions in Melbourne this week and 1086 across Victoria.

• Clearance rate week ending October 6: 71.3%

• Melbourne auctions expected week ending October 13: 970

• Melbourne private sales time on market week ending October 6: 38 days (houses)

• Melbourne vendor discounting market week ending October 6: -6.2% (houses)

• Listings being prepared for market are 3.3% higher in month ending October 6  

With school holidays now concluded auction volumes now lift again. The next few weeks are generally the busiest ones of the real estate year.  

Bentleigh East features the highest number of auctions with 20 scheduled. There are also 18 in both Glen Waverly and Reservoir.  

Clearance rates remain higher in Sydney, although the lower volume; 302 auction results compared to 755 in Melbourne can account for some of the difference.  

Activity in the mortgage market continues to rise moderately with a small 0.5% rise over the past four weeks in trend terms in Victoria. This suggests that whilst the market is improving it is only doing so moderately.