Market Update 7th December 2021
By | 6th Dec 21

Melbourne property market continues to offer more opportunities to buyers with stock levels at unprecedented high levels. There were over 2000 auctions scheduled and from 1168 auctions reported, the clearance rate was a consistent 74%. 

Records continue to be smashed in Melbourne’s market place on a regular basis. A house in Hudsons Road Spotswood sold for $2,452,500 with 2 bidders going toe to toe. It smashed the suburb record by $600,000 and was $350,000 over the vendor’s reserve.

You know the market is red hot when a Beach Box in Dromana sells for $495,000 with strong bidding and competition from 5 parties. Who would have thought you would be paying almost $500,000 for a lease hold property beach box when five years ago the median house price in Dromana was $575,000.