The week ending 31st July delivered a clearance rate of 88% from the 426 auctions reported across Victoria. (Based on REIV data). At the same time last year, 213 auctions were reported and a clearance rate of 77% was achieved.
276 homes sold at auction and 101 sold before auction, with 49 passed in. 18 properties were withdrawn from sale. 594 auctions were postponed.
One particular sale that attracted a lot of commentary took place in Thornbury, where a fire-damaged home sold for $1.5m as buyers outbid each other for a plot in this sought-after location.
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