REIV market snapshot – February 28, 2019

A CLEARANCE rate of 53 per cent was recorded over the weekend compared to 60 per cent the week before and 70 per cent this same week last year.

There were 816 auctions reported to the REIV, with 433 selling and 383 being passed in, 201 of those on a vendor bid.

Auction success in inner ring suburbs is picking up, with an average 63 per cent clearance rate so far in 2019.

St Kilda is leading the pack with an 83 per cent clearance rate from 12 auctions while Hawthorn and Caulfield South have also recorded a 100 per cent clearance rate from five and four auctions respectively.

Hayden Real Estate Torquay sold 8 Carnoustie Avenue Jan Juc at auction.

McCartney Real Estate sold 10 Centre Road, Winchelsea South prior to auction for $820,000.