REIV market snapshot – August 2, 2018

A CLEARANCE rate of 62 per cent was recorded over the weekend compared to 63 per cent the weekend before and 76 per cent the same week last year.

There were 589 auctions reported to the REIV, with 366 selling and 223 being passed in, 106 of those on a vendor bid. With five months remaining in 2018, Kilmore has already surpassed its yearly record with 14 auction sales.

One Agency Torquay sold 77 Strathmore Drive Jan Juc at auction for $770,000 and RT Edgar Bellarine in conjunction with Hayden Ocean Grove sold five vacant lots in Conran Drive Yellow Gums Estate Ocean Grove for between $620,000 and $700,000.