Another strong performance for Ray White Victoria (Week ending 4 May) with a clearance rate of 78% from 68 auctions reported. (An interesting stat is that we consistently auction close to 10% of the total auction market each weekend)
Victoria clearance: 70% from 704 auctions (Source: REIV)
The REIV expects there will be more than 3,000 auctions to be held in May, with the long-term average clearance rate for May being 70%.
By Nerida Conisbee The housing downturn is now broadening across cities and price points. How far prices can fall from here depends on a variable that most of the conversation has not caught up with: the cost of building a replacement home. Australia’s housing downturn is now underway. Higher interest rates have reduced borrowing capacity, … […]
By Nerida Conisbee | More about Nerida Conisbee Average open home attendance has nearly halved in a year. The decline was well underway before the Budget and has continued since. Whether it has now found a floor is the question the latest weekly data is starting to answer. Open homes have become noticeably quieter. Across … […]