Market Update 6th of December 2022
By | 9th Dec 22

Melbournes property market continues to see an abnormally low volume of properties this Spring selling season. The Auction clearance rate was 68% with a low volume of only 805 properties sold compared to 1513  auctions last year for a 75% clearance rate. 

Buyers are still paying premium prices to secure big family homes. A Hawthorn house in Reserve Rd sold for $3,945,000 which was $445,000 above reserve. 
Even family homes on busy main roads are still often selling for a premium. A house in Warrigal Rd, Oakleigh South sold for $1,228,000 which was $325,000 above reserve.