This weekend has seen clearance rates remain in line with the performance of the market throughout July suggesting that little will change until after the Federal Election when stock levels will increase.
Unless buyer activity increases buyers will be presented with conditions that are more favourable than they have been over the past few months.
The clearance rate this weekend is 67 percent, from a total of 496 reported auctions.
There was a total of 331 homes sold and 165 passed in, 106 of those on a vendors bid.
This weekend last year saw 424 auctions and a clearance rate of 85 per cent achieved.
The REIV expects around 580 auctions next weekend and then a drop to 320 on the weekend of the Federal Election.
Enzo Raimondo
CEO REIV
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