REIV market snapshot – December 21, 2017

A CLEARANCE rate of 70 per cent was recorded over the weekend compared to 68 per cent the week before and 75 per cent the same week last year.

There were 1,166 auctions reported to the REIV, with 814 selling and 352 being passed in, 174 of those on a vendor bid.

Multiple auction records have been broken this month, including the highest number of auctions held in a single week in December (1,672) as well as the highest ever auction volumes for the start of summer.

Richardson Real Estate sold a 160 acres lifestyle property at 895 Blackgate Road Torquay at auction for $1.8 million.

Barry Plant sold a three-bedroom home at 14 Geelong Road, Torquay via auction for $860,000.