REIV Auction Snapshot

A clearance rate of 79 per cent was recorded this week compared to 79 per cent last week and 79 per cent this same week last year.

There were 544 auctions reported to the REIV, with 429 selling and 115 being passed in, 44 of those on a vendor bid.

Reservoir saw more than a 50 per cent increase in auction sales with 46 more homes sold under the hammer in 2024 than in the same period last year.

Its clearance rate has also risen almost 10 percentage points to 73 per cent.

McGrath sold 4 Normanby Street East Geelong at auction for $1,455,000 and Jellis Craig sold 31 Heytesbury Street Herne Hill at auction for $600,000.

HF Richardson sold 90 Giddings Road Paraparap at auction for $1,065,000.

Saturday April 20, 2024

Clearance rate: 79%

Sold at auction: 306

Sold before auction: 122

Sold after auction: 1

Passed in: 115

Passed in vendor bid: 44

Withdrawn: 17

Postponed: 57

No result: 393

Total Volume: $497.28m