Market Update – Saturday 27th & Sunday 28th July 2013

A clearance rate of 71 per cent was recorded this weekend compared to 68 per cent last weekend and 62 per cent this time last year.

Thirty per cent more homes have sold at auction compared to this time last year due to there being more auctions but also a clearance rate that is 10 points higher.

There were 506 auctions reported to the REIV this weekend, with 358 selling and 148 being passed in, 97 of those on a vendor bid.

Next weekend the REIV expects around 560 auctions before a small rise to 630 the following weekend.

By: Enzo Raimondo CEO REIV

Source: Reiv.com.au