Market Update 31st of May 2022
By | 3rd Jun 22


Melbourne recorded a consistent 69% clearance rate from 879 reported auctions over the weekend. This is a significant change from last year, which was a sellers market where we saw a 93% clearance rate for the same weekend. The market has shifted in the buyers favor. 

There continues to be some solid run away results as was seen with a house in May Street, North Fitzroy. Three bidders took the price up to $3,500,000 which was $500,000 above the vendors reserve. 

Large, renovated family homes continue to be in high demand. A family home in Locke Street Essendon sold for $3,300,000 which was $500,000 above the opening bid with a number of families bidding strongly.