REIV market snapshot – November 1, 2018

A clearance rate of 52 per cent was recorded over the weekend compared to 51 per cent the week before and 73 per cent the same week last year.

There were 1,200 auctions reported to the REIV, with 483 selling and 578 being passed in, 313 of those on a vendor bid.

Southbank has recorded its strongest auction performance since 2010 with 46 sales and a 76.7 per cent clearance rate.

Bellarine Property sold an acreage property at 551-569 Bellarine Highway, Moolap for $1,220,000 at auction and 55 Aldebaran Drive, Ocean Grove was sold prior to auction.

McCartney Real Estate Winchelsea sold 1951 Cape Otway Road, Wurdiboluc prior to auction.

Hockingstuart Torquay sold 29 Aurora Crescent, Torquay immediately after auction for $750,000 and Hayeswinckle Drysdale sold 209-211 Country Club Drive, Clifton Springs at auction for $750,000.