Most significant weekend for auction market in Melbourne's history: RP Data's Melbourne October 26 weekend auction preview

Robert LaroccaDecember 7, 2020

RP Data is expecting 1,563 auctions in Melbourne this week and 1,734 across Victoria. There are 1,454 expected in Melbourne on Saturday itself. The most will be found in Brighton with 37.

This is the most significant weekend for the auction market in Melbourne’s history with a record number of homes being offered for sale under the hammer.

The very high level of listings is a sign of confidence from vendors, many of whom decided around six to eight weeks ago to list for sale. They would have been influenced by the improved market and reported price rises. A clearance rate for the weekend of 70% or more would be considered a good outcome.

Latest housing finance data from the ABS showed that the number of first home buyers in Victoria is 9% below the average over the past two years.

Key market facts

  • Clearance rate week ending 20 October: 68.6%
  • Melbourne auctions expected week ending 27 October: 1,563
  • Melbourne private sales time on market week ending 20 October: 38 days (houses)
  • Melbourne vendor discounting market week ending 20 October: -6.4% (houses)
  • Listings being prepared for market are 6% higher in month ending 20 October


Robert Larocca is Victorian housing market specialist for RP Data.

Robert Larocca

Robert Larocca is Victorian housing market specialist for CoreLogic RP Data.

Editor's Picks