REIV market snapshot – May 24, 2018

A CLEARANCE rate of 60 per cent was recorded over the weekend compared to 65 per cent the week before 77 per cent the same weekend last year.

There were 548 auctions reported to the REIV, with 331 selling and 217 being passed in, 119 of those on a vendor bid.

With 94 properties sold, Point Cook has more than tripled its auction sales compared with the same period last year.

One Agency Torquay sold 26 Nicholson Crescent in Jan Juc at auction for $1,260,000 while McCartney Real Estate sold 2 Hallis Court in Torquay at auction for $1,180,000.