REIV market snapshot

A clearance rate of 53 per cent was recorded over the weekend compared to 47 per cent last week and 69 per cent the same week last year.

There were 739 auctions reported to the REIV, with 389 selling and 350 being passed in, 159 of those on a vendor bid.

Thirty-three Outer Melbourne suburbs have recorded clearance rates of 100 per cent this year with a total of 61 listings, led by Mount Evelyn and Upper Ferntree Gully with seven auctions in each.