Market Update 2nd August 2023
By | 2nd Aug 23

Melbourne’s property market had another consistent 75% clearance rate from 554 auctions. The volumes continue to be lower than last year when there was 673 auctions and a lower 67% clearance rate. Read all Melbourne’s auctions results below.

One of the standout results was for a 3 bedroom house in Wheelers Hill which sold for $1.703 million.  The family home sold for $243,000 over the reserve price with 4 bidders pushing the auction result.  

There continues to be more townhouses and units coming on to the market as some investors are cashing in. A townhouse in Basil Street, Newport passed in with no bids and a reserve of $920,000.