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Industry Snapshot
Posted by   |   May 06th, 2014   |   Categories: Industry News, Market Trends, News

According to REIV, A clearance rate of 70 per cent was recorded this weekend compared to 67 per cent last weekend and 69 per cent this weekend last year.

There were 704 auctions reported to the REIV this weekend, with 496 selling and 208 being passed in, 103 of those on a vendor bid.

REIV’s forward projections suggest that there will be more than 3,000 auctions to be held in the month of May which will again be higher than the 10-year average for May of 2,835 auctions. The long-term average clearance rate for May is 70 per cent but it is likely that clearance rates in the coming weeks will be at or slightly below this average.

Next weekend the REIV expects about 670 auctions.

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