REIV market snapshot

BY GIL KING, CEO REIV

A clearance rate of 82 per cent was recorded this week compared to 82 per cent last week and 77 per cent this same week last year.

There were 927 auctions reported to the REIV, with 756 selling and 171 being passed in, 68 of those on a vendor bid.

Reservoir is the first suburb to surpass 200 auction sales this year, leading the market with 77.4 per cent clearance rate from 283 listings.

McCartney Real Estate sold 52A Zeally Bay Road Torquay at auction for $1,410,000 and Hayeswinckle Drysdale sold 98 Country Club Drive Clifton Springs for $621,000.

Saturday May 22, 2021
Clearance rate: 82%
Sold at auction: 607
Sold before auction: 148
Sold after auction: 1
Passed in: 171
Passed in vendor bid: 68
Withdrawn: 20
Postponed: 28
No result: 375
Total Volume: $848.83m