The week ending 27th March saw a massive 1438 auctions reported across Victoria (based on REIV data) as the market ramped up for the weekend final before Easter. The clearance rate for the week was 85%. At the same time last year, it was 90%.
956 homes were sold at auction and 270 sold before auction, with 212 passed in. 16 properties were withdrawn from sale.
Reserves continue to be surpassed by substantial amounts at some auctions due to the exceedingly strong buyer demand across the market.
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