REIV market snapshot – June 9

BY GIL KING, CEO REIV

A clearance rate of 96 per cent was recorded this week compared to 93 per cent last week and 66 per cent this same week last year.

There were 556 auctions reported to the REIV, with 534 selling and 22 being passed in, 13 of those on a vendor bid.

More than 14,000 homes have been sold under the hammer in the first five months of 2021, led by Reservoir (254) and Glen Waverley (202).

Bellarine Property sold 41 Ocean Throughway, Ocean Grove, at auction for $1,460,000 with four bidders left over.

Hayeswinckle Drysdale sold 151 Bay Shore Avenue, Clifton Springs, at auction for $620,000.

Saturday June 5, 2021
Clearance rate: 96%
Sold at auction: 255
Sold before auction: 278
Sold after auction: 1
Passed in: 22
Passed in vendor bid: 16
Withdrawn: 231
Postponed: 572
No result: 240
Total Volume: $607.94m