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Victorian rental vacancy rates hit new low

A significant market movement was recorded over the last week as Real Estate Institute of Victoria (REIV) revealed that that Victoria’s rental vacancy rate had declined to its lowest level ever, 1.8%, since the group started gathering data sixteen years ago.

Auction volumes trend higher

In the same way, the preliminary clearance rate of 57.9% this week was higher than last week’s final clearance rate of 53.3%. However, when compared over the same week in 2017, which registered a final clearance rate of 68.3%, the number is still lower. CoreLogic noted though that there might be slight changes since results are still being finalised. 

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