Market Update 11th June 2024
By | 11th Jun 24

Melbourne’s property market had a breather with the King’s Birthday long weekend seeing only 284 auctions and another consistent clearance rate of 71%. There was a similar volume last year on the public holiday weekend with 267 auctions and a higher clearance rate of 82%. Read Melbourne’s auction results below.

It’s amazing to think that first home buyers have to pay nearly $1.2m to buy a three bedroom house in North Road Reservoir now. I remember seeing houses sell for $100k in 1995 in the street before I bought my first property in Brunswick East so prices have gone up twelve fold in 29 years.

Who would have thought ten years ago that a house in Wantirna South would sell for nearly $2 million? The single level home appealed to downsizers and 5 bidders pushed the price to $1.972m, $422,00 over reserve with a downsizer winning the keys.