REIV market snapshot – October 18, 2018

A clearance rate of 53 per cent was recorded over the weekend compared to 55 per cent last week and 74 per cent the same week last year.

There were 653 auctions reported to the REIV, with 343 selling and 310 being passed in, 154 of those on a vendor bid.

Point Cook hit a new record with 153 auction sales for the suburb so far in 2018, surpassing 150 sales in total for 2017.

One Agency Torquay sold 3 Island Drive Torquay at auction for $630,000 with 1342A Horseshoe Bend Road sold prior to auction.

RT Edgar Bellarine sold 275 Rhinds Road Wallington at auction for $1.18 million.