Market Update - 28th February 2023
By | 28th Feb 23

Melbourne’s property market was scheduled to have the biggest weekend so far this year with close to 1000 auctions.  There were 780 reported auctions to date with a 75% clearance rate and again well below the 1342 auctions for the same weekend last year with a similar 76% clearance rate.  Read all of Melbourne’s auction results below.

Turnkey renovated family homes continue to be highly sort after and in low supply.  A house in Dallas Avenue Hughesdale had seven bidders battling it out and the property sold to a downsizer for $140,000 over reserve.

There continues to be few quality family homes in many suburbs of Melbourne driving up prices. A 3 bedroom house in Henderson Street South Melbourne sold for $2,220,000. A downsizer again won the keys, battling it out against four other bidders to pay $350,000 above reserve.