Market Update – Saturday 8th & Sunday 9th March
A clearance rate of 71 per cent was recorded this weekend compared to 73 per cent last weekend and 62 per cent this weekend last year.
There were 238 auctions reported to the REIV this weekend, with 169 selling and 69 being passed in, 36 of those on a vendor bid.
It is evident that the market continues to deliver solid results. After this relatively quiet weekend, we are expecting two more weekends of about 1,000 auctions each. This will result in more than 3,000 auctions for March which is the highest level since 2008.
Next weekend the REIV expects around 1,050 auctions.
By: Enzo Raimondo