Home > Auction Wrap > Auction Snapshot | 28 & 29 March 2020

Auction Snapshot | 28 & 29 March 2020

Due to the tightening of social distancing restrictions across the country, last weekend saw the first sweep of online auctions take place to help curb the spread of COVID-19.
Australia-wide, more than 2,700 properties were scheduled to go under the hammer, but as a result of the ban on public auctions, over 54% of properties were instead changed to private sale, with 10% going to online auctions.
As such, the Real Estate Institute of Victoria (REIV) recorded an auction clearance rate of 90% for Victoria. This saw a total of 363 auctions and 97 private sales take place, bringing in a combined volume of $382 million.
REIA President, Adrian Kelly, said ‘we’re lucky that with the internet, there’s all these new online platforms. Even in trying times, we can still make it work.’
Results. It’s a Fletchers thing.
Categories: Auction Wrap
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