For the week ending 23rd May there were 934 auctions reported across Victoria, according to REIV data. The auction clearance rate for this period was 81%. Volume was marginally lower than the 978 auctions reported in the previous week.
609 homes were sold at auction, while 149 sold before auction, with 174 passed in. 21 properties were withdrawn from sale.
For the same period last year, there were only 137 auctions reported and a clearance rate of 78% achieved.
The strength of the property market in Victoria continues as discussion ensues about how last week’s State budget will impact the sector.
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