Market Update 7th of October 2019
By | 7th Nov 19

Melbourne continues it's  consistent run of auction results with a 74% clearance rate from 148 auctions. It was a quieter weekend due to most Melbournians taking it as a long weekend with Cup Day on Tuesday. This weekend we will see a big Super Saturday of auctions and there will be more choice for buyers.

 There continues to be some big results, none more than a townhouse in Marine Parade in St Kilda which smashed its reserve by $475,000. Properties with a 'wow' factor like this one which had water views will always be in demand and it only takes two to tango which is what happened at this auction. An investor who owned two others in the block beat a  downsizer buyer who was moving from a bigger Toorak property. They pushed the property well over the $1,200,000 reserve.