Market Update – Saturday 13th & Sunday 14th July 2013
A clearance rate of 76 per cent was recorded today compared to 68 per cent last weekend and 55 per cent this weekend last year.
There were 354 auctions reported to the REIV this weekend, with 268 selling and 86 being passed in, 46 of those on a vendor bid.
Due to a technical error at our call centre on Saturday the 13th, a small number of auctions results were duplicated. As a result, the number of auctions reported to the REIV has been revised down from 402 to 354 auctions and the clearance rate has changed marginally from 75 per cent to 76 per cent.
Next weekend the REIV expects around 360 auctions.
By:Enzo Raimondo CEO REIV