Market Update 12th of July 2022
By Advantage Property | 13th Jul 22
The Melbourne property market had a low volume of auctions again due to the school holidays. There were only 388 reported auctions and Melbourne's clearance rate was again a consistent 67%. Read all the weekends REIV auction results below.
The outer suburbs continue to see strong demand for family homes. A house in Peter Chance Crescent, Langwarrin's sold under the hammer for $995,000, which was $145,000 above the reserve with the home selling to a downsizer.
Family homes continue to see strong bidding with a home in Highmont Drive Vermont South selling for $1,740,000 which was $240,000 above the reserve with 5 bidders pushing the price well above vendors expectations.