REIV market snapshot – July 5, 2018

A CLEARANCE rate of 64 per cent was recorded over the weekend compared to 64 per cent the weekend before and 73 per cent the same week last year.

There were 586 auctions reported to the REIV, with 373 selling and 213 being passed in, 109 of those on a vendor bid.

Melbourne CBD has performed well with 70 auction sales and 71 per cent clearance rate, up from 58 sales and 59 per cent clearance rate during same period last year.

Bellarine Property sold 72 Madeley Street in Ocean Grove for $607,500 prior to auction.