Market Update 7th February 2024
By | 7th Feb 24

Melbourne's property market started with a bang with an 83% clearance rate from a large volume of 797 auctions. This is well above the 74% clearance rate last year, from less than half the amount of auctions for the same weekend, where there were only 364 auctions. Read all Melbourne's auction results info below:

One of the strongest sales results for the weekend was the sale of the modern bedroom house in Saturn Terrace in Doncaster East. The property on around 697m2 sold for $2,925,500, which was well above the $2,270,000 to $2,500,000 price range quoted.  Modern family turnkey homes continue to deliver strong results like this one that sold $425,000 above the top of the range.

The first homebuyer end of the market continues to be rock solid as was seen with an auction in Stainsby Crescent, Roxburgh Park which sold for $802,000 on the weekend.  Six bidders fought it out for the keys and a young family was successful as the property sold for $22,000 over reserve.