Market Update 13th of September 2022
By | 14th Sep 22

Melbourne’s property market maintained its steady clearance rate with a 69% clearance rate from 541 auctions. It is a big shift from the sellers market we saw last year when clearance rates were 93% on the same weekend.

Melbourne’s middle suburbs continue to see more demand than supply for homes. A house in Vasa place, Keilor Lodge sold for $976,000 which was $136,000 above reserve with five bidders fought it out and a Buyers Advocate securing the property for his investor client.  

Melbourne’s inner bayside suburbs have seen some phenomenal growth in the past decade. Essendon Footballer Dyson Heppell sold in Greig Street, Albert Park for $3,460,000 after he purchased it for $1,067,000 only eight years ago.