Market Update 27th of December 2022
By | 4th Jan 23

Melbourne's last auction weekend for the year finished with a consistent 66% clearance rate from 828 auctions. This was well below the volume for the same weekend last year with 1704 auctions being held for a 74% clearance rate. 

Renovated family homes continue to be in strong demand in the inner suburbs. A house in Bowen Cresent, Carlton North sold for $2,435,000 which was $135,000 over reserve with two bidders competing for the keys. 

The first home buyers end of the market is not slowing down even though interest rate rises would be affecting many first home buyers. A three bedroom house in Franklin Road, Lalor sold for $798,000, a whopping $148,000 over reserve with 8 bidders pushing hard to get in before interest rates keep rising.