REIV market snapshot – April 12, 2018

A CLEARANCE rate of 71 per cent was recorded over the weekend compared to 68 per cent the weekend before and 81 per cent this week last year.

There were 549 auctions reported to the REIV, with 388 selling and 161 being passed in, 71 of those on a vendor bid.

Craigieburn has surpassed Reservoir as Melbourne’s most popular auction location with close to 150 homes being auctioned this year, and 80 per cent selling under the hammer.

Hayden Real estate sold a two-bedroom cottage at 69B Harvey Street, Anglesea for $660,000 along with five of six adjoining vacant lots in Parker Street, which sold for up to $595,000. Bellarine Property sold 14 Aldebaran Road, Ocean Grove prior to auction for above expectations.