Auction Snapshot

 

Mr King, CEO of REIV reported on Monday that a clearance rate of 53 per cent was recorded this week compared to 60 per cent last week and 70 per cent this week last year. There were 816 auctions reported to the REIV, with 433 selling and 383 being passed in, 201 of those on a vendor bid. Auction success in inner ring suburbs is picking up, with an average 63 per cent clearance rate so far in 2019. St Kilda is leading the pack with an 83 per cent clearance rate from 12 auctions while Hawthorn and Caulfield South have also recorded a 100 per cent clearance rate from five and four auctions respectively.

CLEARANCE RATE               53%

AUCTIONS HELD                816

LAST WEEK                           563

THIS TIME LAST YEAR     1403