The final weekend in April was another busy one for Victoria’s real estate market, with 704 auctions reported and a clearance rate of 80% according to REIV data.
Volume was more than 30% lower than the week before, which saw 1104 auctions across Victoria. The ANZAC Day long weekend generally brings lower volume to the market.
While data is limited for the same period last year (due to the onset of the pandemic), REIV records reveal that only 29 auctions were reported during this time in 2020.
449 properties were sold at auction last week while another 117 homes sold before auction, with 138 passed in.
As Alanah Frost reported on the weekend, Melbourne’s real estate market remains fiercely competitive and according to many property experts, “house prices are tipped to continue rising until the end of the year, and well into 2022”.
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