Market Update 8th Of December 2020
By Advantage Property | 7th Dec 20
Melbourne's property market continues its comeback after lockdown. Melbourne's clearance rates have consistently been over 80% since the property market returned to normal business in Melbourne. The weekend's clearance rate was 80% from 595 auctions with volumes much lower this year compared to last year when we had 1000 plus auction weekends..
Period houses have continue to be in strong demand in Melbournes inner bayside suburbs. A small two bedroom house in Dow Street Sth Melbourne sold for $1055000, $135,000 over reservewith 5 bidders pushing well above our clients budget.
Single level villa units continue to be strong with first homebuyers and down-sizers in Melbourne’s market. Our Vendor Advocacy client sold a two bedroom unrenovated unit in Eumeralla Drive Tullamarine for $345,000 with much interest from first home buyers.