Market Update 10th May 2022
By | 10th May 22

The first interest rate rise hasn't really impacted Melbournes auction clearance rates yet. The auction clearance rate for the weekend was a consistent 73% from 574 reported auctions. 


The middle Eastern suburbs continue to be popular with families due to good school zones. A house in Barak St, Bullen sold for $1,470,000 with four bidders pushing $120,000 above the reserve. 


There continues to be strong results for modern family homes in many suburbs in Melbourne. Three bidders pushed the price of a 4 bedroom house in Mulgrave to $1,927,000 which was a whopping $427,000 over reserve.