Market Update 18th May 2021
By | 19th May 21

Melbourne’s property market continues its strong performance with a very strong 88% clearance rate from a Super Saturday Volume of over 1400 auctions. There seem to be any slowing of this Melbourne property market train that is moving faster and faster. Read all of Melbourne’s auction results here.
 

There continues to be big runaway results every weekend at auctions with another property selling for over a million dollars above reserve. A run down house in Kew, that is going to be bulldozed sold for $1,600,000 above the reserve price with 5 bidders fighting for the keys.
 

There continues to be opportunities for our Buyers Advocate clients across the Melbourne marketplace. We were able to secure another great opportunity for a business owner who purchased a warehouse style property on 504m2 of land for only $2,521,000 in St Kilda. This was $1.2 million below the price that a similar sized property just sold for in Vale Street, St Kilda under auction conditions and we were able to buy without auction competition.