REIV market snapshot

A clearance rate of 53 percent was recorded over the weekend compared to 47 percent last week and 69 percent the same week last year.

There were 739 auctions reported to the REIV, with 389 selling and 350 being passed in, 159 of those on a vendor bid.

Thirty-three outer Melbourne suburbs have recorded clearance rates of 100 percent this year with a total of 61 listings, led by Mount Evelyn and Upper Ferntree Gully, with seven auctions in each.

Richardson Real Estate had a bumper auction weekend with three Moriac lifestyle properties, 100 Ervins Road, 420 Hunts Road, and 380 Cape Otway Road all selling on auction day.

*For more real estate news, see this week’s My Coastal Home lift-out, inside today.

SATURDAY
DECEMBER 15, 2018
Clearance rate: 53%
Sold at auction: 309
Sold before auction: 78
Sold after auction: 0
Passed in: 350
Passed in vendor bid: 159
Withdrawn: 71
Postponed: 20
No result: 378
Total Volume: $301.45m