REIV market snapshot – March 1, 2018

A CLEARANCE rate of 70 per cent was recorded over the weekend compared to 71 per cent the week before and 81 per cent the same week last year.

There were 1,168 auctions reported to the REIV, with 822 selling and 346 being passed in, 159 of those on a vendor bid.

Buyers will have plenty of opportunities to purchase before Labour Day with back-to-back Super Saturday auction weekends scheduled.

The city’s inner and middle ring suburbs accounted for the vast majority of auctions this weekend, at 34 and 39 per cent respectively.

Great Ocean Properties sold 15 Painkalac Court Aireys Inlet at auction for $935,000 and Bellarine Property sold 32 Ozone Road Barwon Heads for $1.326 million (click here for more).