Auction Snapshot

Mr King, CEO of REIV reported on Monday that a clearance rate of 48 per cent was recorded this week compared to 48 per cent last week and 67 per cent this week last year. There were 874 auctions reported to the REIV, with 420 selling and 454 being passed in, 227 of those on a vendor bid. Three Geelong suburbs have surpassed their auction sales record so far in 2018 – Grovedale with 38 sales, Newcomb with 26 and 13 properties selling under the hammer in Thomson.      

CLEARANCE RATE                48% 

 AUCTIONS HELD                 874

 LAST WEEK                           1123