Market Update 23rd November
By Advantage Property | 24th Nov 21
Melbourne’s property market continues to deliver consistent auction results for vendors with a 80% clearance rate from 1083 auctions. There will still be a few Super Saturday’s and buyers are feeling that there is a lot more stock on offer to choose from which is positive for them.
You know the market is red hot when a beach box in Rye sells for a whopping $570,000. Four bidders pushed the price of the beach box nearly $300,000 above reserve. This shows how lifestyle is driving the property market in the Mornington Peninsula.
One bedroom apartments continue to be challenging for vendors to sell in the current market. Our Vendor Advocacy clients sold a one bedroom apartment in Park Street, Pascoe Vale for $285,000, though there is less demand now than for two bedrooms.