Victoria slated to host more auctions

By Gerv Tacadena | 14 Dec 2020

Victoria is poised to host more open homes and auctions in the coming months as COVID-19 restrictions continue to ease, according to the Real Estate Institute of Victoria (REIV).

Latest figures from REIV showed more than 2,100 auctions in November, indicating a substantial recovery since the lockdown started in March.

"December, usually a quiet month, is expected to see yet another lift in auction numbers, having recorded 600 across the state in the first week alone, with a clearance rate at 74%," said Gil King, CEO of REIV.

The expected boost in auctions could result in the state housing market "bouncing into a busy summer" over the coming months.

"With Victoria back on its path to post-pandemic recovery and demand flooding back into the market, there’s no doubt we’ll see a strong run home for 2020, which is sure to set the state up for a solid start to the new year," King said.

King said the strong fundamentals and the agility of the sector helped cushion the impacts of the outbreak to the housing market.

Top Suburbs : spearwood , north epping , bligh park , melton , keperra

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