The week ending 10th July delivered a clearance rate of 80% from the 719 auctions reported across Victoria, according to REIV data. In the previous week, the clearance rate was also 80%, however volume was higher, with 935 auctions reported.
440 homes sold at auction last week, while another 131 sold before auction, with 147 passed in. 27 properties were withdrawn from sale.
Among the more notable sales for the week, a property in Rowville sold for $180,000 above reserve. While the level of demand for real estate has cooled somewhat in recent months, competition among buyers remains strong and is expected to continue well into next year.
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