Market Update 18th August 2020
By | 17th Aug 20

Melbourne’s property market continued with its lower volumes of auctions with a clearance rate of 89% from only 94 auctions. As our state is in stage 4 lockdown, many vendors have now cancelled their online auction campaigns or deferred them until later on. No one can inspect properties so there is very little chance that vendors can sell at the moment unless buyers have already been through earlier in the campaign.

 

Even though we have lockdown, there continues to be solid results in Melbourne’s property market despite the pandemic. There was another suburb record result with a house in Mulgrave selling for $2,515,000 and we also saw a suburb record in McLeod where a property sold for $2,344,500.