Market Update 2nd February 2020
By | 3rd Feb 21

Welcome back to our first Advantage Property market update for this year. We hope you and your family had a safe and happy festive season and that you had some fun holidays over this period. The Melbourne market has started with a bang with many Melbourne properties selling for big prices as we are seeing growing demand as a result of the pent up demand after Melbourne lock down.

Many Melbournians are now considering a sea change and the Mornington Peninsula property market is red hot. There was a property in Point Nepean Rd Rye that sold $1,000,000 over reserve with four bidders pushing the price up to $2,740,000 in front of a crowd of about 150 people. This will auger well for the Melbourne market as this usually translates to a strong and robust Melbourne market start

Melbourne’s middle suburbs are also seeing a big resurgence as now many Melbournians are feeling like they no longer need to live near the inner city and pay a high premium price. A house in Vermont South sold in Lyrebird Court for $1,318,000 with 5 bidders pushing the price $243,500 above reserve.