REIV market snapshot – May 3, 2018

A CLEARANCE rate of 68 per cent was recorded over the weekend compared to 67 per cent the week before and 81 per cent the week last year.

There were 984 auctions reported to the REIV, with 665 selling and 319 being passed in, 168 of those on a vendor bid.

Auction sales in Point Cook in 2018 are three times the number of those in the same period last year during the March quarter.

McCartney Real Estate sold two Old Torquay properties at auction with an older weather board home at 16 Beach Road making $1,250,000 and a modern newer residence at 30 Puebla Street achieving $1,700,000 at auction.

Hayden Real Estate sold 2/12 Golden Beach Way Torquay and 5/50 Boston Road Torquay immediately after auction.