REIV market snapshot – September 20, 2018

A clearance rate of 57 per cent was recorded over the weekend compared to 63 per cent last week and 74 per cent the same week last year.

There were 710 auctions reported to the REIV, with 403 selling and 307 being passed in, 165 of those on a vendor bid. More than 200 homes have gone to auction this year in Point Cook, surpassing its previous record of 183 homes in 2017.

Neville Richards Real Estate sold 14 Drysdale Street, Portarlington at auction for $710,000 and Hayden Real Estate Torquay sold 8 Ceduna Close, Torquay prior to auction for $830,000.