REIV market snapshot

BY GIL KING, CEO REIV

A clearance rate of 82 per cent was recorded this week compared to 91 per cent last week and 67 per cent this same week last year.

There were 530 auctions reported to the REIV, with 436 selling and 94 being passed in, 30 of those on a vendor bid.

Eleven suburbs cleared all their listings in May, led by Fitzroy North with 23 properties sold under the hammer.

Bellarine Property sold 16A Bridge Road Barwon Heads at auction for $1,801,500 and also sold 10 Cosham Court Barwon Heads at auction for $1,590,000.

Saturday June 19, 2021

• Clearance rate: 82%
• Sold at auction: 305
• Sold before auction: 131
• Sold after auction: 0
• Passed in: 94
• Passed in vendor bid: 30
• Withdrawn: 31
• Postponed: 719
• No result: 345
• Total Volume: $454.22m