The week ending 11th April saw the number of auctions reported across Victoria rise to 778 (according to REIV data), a quick rebound from the 173 listed in the week leading up to Easter.
The clearance rate for the week was 80%. 481 homes were sold at auction and 140 sold before auction, with 156 passed in. 35 properties were withdrawn from sale.
The REIV’s Residential Market Index (RMX) reveals that buyer demand for housing remains highly competitive. Many first-home buyers will be keenly aware that generous government rebates will expire at the end of June. The opportunity to get into the market while these rebates are still on offer is expected to contribute to demand in the months ahead.
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