Market Update 22nd of March 2022
By | 22nd Mar 22

Melbourne's property market passed another Super Saturday test with a strong 76% clearance rate with nearly a 1000 reported auctions. There has been a slight drop in clearance rates as it was 83% this weekend last year with over 1000 auctions being conducted. 

Family homes in Melbourne's Bayside suburbs continue to see strong demand. Three bidders pushed hard for an immaculate home in Lawson Pde, Highett that sold for $1,806,000, $156,000 above reserve with a number of other bidders unable to get a bid in. 

Middle Northern Suburbs like Reservoir continue to see strong demand from first home buyers. Our Vendor Advocacy client sold a house for $896,000 with four bidders pushing the price well above the $800,000 reserve. Reservoir continues to see strong growth as we bought this house for our client around 5 years ago for $570,000.