Market update 12th October 2021
By | 12th Oct 21

Melbourne’s property market has continued to see increased volumes with 897 properties auctioned this weekend with a clearance rate of 86%. Only 46 auctions were held last year on the same weekend so Melbourne’s property market continues to rebound after the no inspection period. Read all Melbourne’s auction results below. 

There continues to be premium prices paid for A1 locations. Dubbed the best house in Burwood East a house in Davis Street sold for $412,000 above its reserve. Strong bidding pushed the property price to $2,320,000. 

Unrenovated properties aren’t scaring buyers from buying and doing major renovation work. An unrenovated house in Dorcas Street, South Melbourne sold for $1,471,000 with 5 bidders pushing the price $371,000 above the $1,100,000 reserve.