REIV market snapshot – November 29, 2018

A clearance rate of 48 per cent was recorded over the weekend compared to 48 per cent last week and 68 per cent the same week last year.

There were 757 auctions reported to the REIV, with 365 selling and 392 being passed in, 170 of those on a vendor bid.

In 2018 to date, the Shire of Hepburn has recorded its strongest auction performance with 26 sales resulting in an 84 per cent clearance rate, this is also the highest clearance rate by municipality in Victoria. Bellarine Property sold 5 Punt Road, Barwon Heads for $1.425 million on auction day and Links Property sold 16 Ocean Boulevard, Torquay before auction.

Hayden Real Estate Torquay sold 7 Parkside Crescent Torquay at auction and sold vacant land at 320 Grossmans Road prior to auction.