Transactions
There were an estimated 13,920 house and unit sales transacted in Victoria in October 2023, and 128,743 sales in the past 12 months. Based on these estimates, the share of auctions sold as a percentage of overall sales was 19.4 per cent in the 12 months to October 2023.
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In September 2023, there were approximately 8,094 new housing finance commitments for owner-occupiers in Victoria. This is a decrease of 7.4 per from September 2022.
The total number of building approvals in September 2023 decreased by 8.9 cent compared to previous month in seasonally adjusted terms, with approximately 4,524 dwelling units approved. There were 53,148 dwelling units approved in the past 12 months to September 2023 for Victoria.
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Private listings in Victoria took 45 days on the market to sell in October 2023. Properties in metro Melbourne spent 38 days on market, unchanged from previous month. For regional Victoria, the median days on market are 56 days, one day more than previous month.
Homes in inner Melbourne saw the highest increase in their selling time by 5 days over the month, followed by middle Melbourne (4 days) and outer Melbourne (3 days).
