Market Update – Saturday 1st & Sunday 2nd June 2013
A clearance rate of 74 per cent was recorded this weekend compared to 69 per cent last weekend and 56 per cent for this weekend last year.
Todays result is an improvement on the clearance rate in May which was 70 per cent from 2,848 auctions. May recorded an increase of 2 points from April. When compared to May last year, the improvement in the market is obvious with 10 per cent more auctions and a clearance rate that is 8 points higher.
There were 721 auctions reported to the REIV this weekend, with 531 selling and 190 being passed in, 107 of those on a vendor bid.
Next weekend the REIV expects around 170 auctions.
By: Enzo Raimondo CEO REIV