Market Update 8th August 2023
By | 7th Aug 23

Melbourne’s property market has improved around 15% from last year’s clearance rates as the clearance rate was 75% from 548 auctions this weekend. This was compared to a 66% clearance rate from around 656 auctions last year. Read all the latest auction results below.

The biggest result of the weekend was a trophy home in Hawthorn Grove, Hawthorn which sold for $8.02 million to an expat family returning from the USA. 3 bidders were involved and it sold for a whopping $702,000 above reserve.  It was last sold for $3.85 million in 2014 so the vendors had a great win.

Suburb records continue to be smashed in Melbourne’s property market. In Sunshine West, a 4 bedroom Spanish ranch style home in Kutcher Court sold for $1,322,500 with 5 bidders fighting it out and a local family winning the keys.