Market Update 6th August 2024
By | 6th Aug 24

Melbourne’s property market continued its improving performance with an improved 82% clearance rate from a small volume of 496 auctions. This is tracking stronger than the same time last year where there was a 76% clearance rate from a much larger volume of 648 auctions. Read all of Melbourne’s auction results below.

https://reiv.com.au/market-insights/auction-results

It was great to be involved in Alisha Capone's recent article on realestate.com.au regarding self-selling my property to downsize further. It’s lways a sad time when selling a property where I have had some great entertaining memories there, but it is time to downsize further and spend more time at my Mornington Peninsula property as my kids are getting older.

https://www.realestate.com.au/news/elwood-frank-valentic-from-the-block-selling-his-entertainers-delight-with-a-cool-man-cave/

One of the strongest results of the weekend was the sale of 5 Lurnea Rd in Glen Iris which was a turnkey renovated four bedroom, two bathroom house on 728m2. It had the added features of an entertainer’s pool and sold for $2,695,000.

https://www.realestate.com.au/sold/property-house-vic-glen+iris-144836616

 

First homebuyers continue to dominate at auctions involving townhouses. A townhouse at 2/581-585 Nicholson St in Carlton North sold for a strong result of $967,500. Two buyers pushed the result well above the $850,000 plus price quote and two sisters were the successful winners of the keys.

https://www.realestate.com.au/sold/property-townhouse-vic-carlton+north-145465088