Market Update - 23 September
By Advantage Property | 23rd Sep 21
Good news for the real estate industry, private inspections of all properties were allowed again from Saturday. This is a welcome relief to many vendors that would have had challenges trying to sell occupied properties. The Melbourne clearance rate was again a solid 96% from 182 reported auctions.
There continues to be some runaway results for un-renovated properties in Melbourne’s Bayside suburbs. An old mid-century property at 9 Butler Street, Brighton sold for $3,750,000 which is $507,000 above reserve. Six bidders pushed the price well over expectations.
Many properties were sold without buyers inspecting them, and there were six buyers who hadn’t inspected a three bedroom unit in Westbrook Street, East Kew. It ended up selling for $1,323,000, around $200,000 more than the opening bid with all buyers bidding without inspecting the property.
Read the full market update HERE