REIV Market snapshot – April 19, 2018

BY GIL KING, CEO REIV

A clearance rate of 68 per cent was recorded over the weekend compared to 68 per cent the weekend before. There were 658 auctions reported to the REIV, with 445 selling and 213 being passed in, 103 of those on a vendor bid. Vendors in the City of Frankston achieved some of Melbourne’s strongest results in the March quarter, with 90 homes selling under the hammer from 109 auctions. Bellarine Property sold a two-bedroom home at 6 Aries Crescent Ocean Grove for $645,000 at auction.

Saturday April 14, 2018

Clearance rate: 68 per cent
Sold at auction: 374
Sold before auction: 71
Sold after auction: 0
Passed in: 213
Passed in vendor bid: 103
Withdrawn: 15
Postponed: 14
No result: 214

Total Volume: $378.92m