REIV market snapshot

BY GIL KING, CEO REIV

A clearance rate of 93 per cent was recorded this week compared to 80 per cent last week and 71 per cent this same week last year.

There were 724 auctions reported to the REIV, with 674 selling and 50 being passed in, 16 of those on a vendor bid.

Nillumbik Shire has recorded the strongest clearance rate in metro Melbourne with 93.5 per cent this year so far, led by Eltham selling 48 out of 50 auction listings.

Agents have postponed several auctions in Geelong, Surf Coast and the Bellarine until further notice.

Saturday May 29, 2021
Clearance rate: 93%
Sold at auction: 370
Sold before auction: 303
Sold after auction: 1
Passed in: 50
Passed in vendor bid: 16
Withdrawn: 198
Postponed: 324
No result: 305
Total Volume: $733.11m