Market Update 2nd of June 2020
By | 2nd Jun 20

Melbourne’s prestige end of the market continues to see some solid results as it continues to weather the coronavirus storm. A house in Martin Street Brighton on the beachfront recorded the second highest suburb sale ever, selling for $19.8 million quickly. The high end of the Melbourne market continues to defy the odds with some olid results including a new record sale in Byrne Avenue, Elwood for over $6.5 million. 

Many agents are now excited by the prospect of being able to run more public auctions. The State government has relaxed the restriction numbers from 10 up to 20 at public auctions from Monday this week. Also the Open for inspection numbers have now increased to 20. This will see many more vendors converting their campaigns to Auction campaigns rather than a expressions of interest campaign. Though, again this will have some challenges as this will again mean approximatly 10 groups as most people come with their partners meaning you are potentially limiting the number of people you can have at an auction. You will have to register to attend an auction and be one of the registered bidders to bid.