Market Overview
+0.5% 75%
RMX Change
The REIV Residential Market Index (RMX) for Victoria rose by 0.5 per cent to 151.4 over the four weeks to 17th September 2023.
The House price index went down by 1.9 per cent to 159.3 over the same period and the Unit index saw an increase of 1.7 per cent to 139.5.
Clearance Rate
A clearance rate of 75.3 per cent was recorded in August 2023. The rolling 12-month clearance rate is 73.3 per cent.
3.2k
Reported Auctions
There were 3,194 reported auctions and 2,406 properties sold by auction in August 2023.
35
Days on Market
Private listings in Victoria took 35 days on market to sell in August 2023.
Properties in metro Melbourne spent 33 days on market, three days fewer than previous month.
For regional Victoria, the median days on market is 46 days, five days fewer than previous month.
2.2%
Vacancy Rate
Victoria's vacancy rate 2.2 per cent in August.
The proportion of vacar in metro Melbourne ros cent while it came down cent for regional Victor month.
Market Overview
Following the Reserve Bank meeting in September 2023, the cash rate remained unchanged at 4.10 per cent.
There were 3,194 reported auctions in August 2023 with 2,406 of these sold representing a clearance rate of 75.3 per cent. There were a total of 31,961 reported auctions in Victoria in the past 12 months, with a 73.3 per cent clearance rate.
There were an estimated 13,527 house and unit sales transacted in Victoria in August 2023, and 125,738 sales in the past 12 months. Based on these estimates, the share of auctions sold as a percentage of overall sales was 17.4 per cent in the 12 months to August 2023.
The REIV Residential Market Index (RMX) for Victoria rose by 0.5 pe 151.4 over the four weeks to 17th September 2023. The House price in down by 1.9 per cent to 159.3 over the same period and the Unit index increase of 1.7 per cent to 139.5.
Victoria's vacancy rate stayed at 2.2 per cent in August 2023. The me in metropolitan Melbourne for houses continued to rise to $550 per w it stayed at $500 per week for units for three consecutive months. Th rent for regional houses rose to $450 per week and it went down to $3 week for units over the month.
