REIV market snapshot

WITH GIL KING, CEO REIV

A clearance rate of 81 per cent was recorded this week compared to 80 per cent last week and 72 per cent this same week last year.

There were 956 auctions reported to the REIV, with 776 selling and 180 being passed in, 85 of those on a vendor bid.

Over 7,000 homes sold under the hammer in March quarter 2021 throughout the state, led by Reservoir (119), Glen Waverley (102), and Mount Waverley (101).

Hayden Real Estate sold 6 Holstock Court Jan Juc immediately after auction for $1,420,000 and Barry Plant sold 3 Glengarry Drive Torquay at auction for $1,090,000.

McCartney Real Estate sold 13 Seabird Court Torquay at auction for $1,030,000 and Barnett Real Estate sold 2/10-12 Geelong Road Torquay for$597,000.

Great Ocean Road Real Estate sold 5 Howard Street Lorne at auction for $2,267,000.

Saturday May 1, 2021

Clearance rate: 81%

Sold at auction: 601

Sold before auction: 175

Sold after auction: 0

Passed in: 180

Passed in vendor bid: 85

Withdrawn: 32

Postponed: 18

No result: 323

Total Volume: $895.15m