Market Update 8th of March 2022
By | 9th Mar 22

Melbourne’s property market continues with a consistent run with a 77% clearance rate from another large volume of 888 reported auctions. There continues to be strong results across the whole spectrum of Melbourne’s property market. 

The premium upper end of Melbourne’s property market continues to be rock solid. A house in Bowen Street Kew sold for a million dollars more than its quoted range, selling for $3.7 million with six bidders competing fiercely for the keys.

Middle suburbs such as Reservoir have benefited from the ripple flow-on effect of buyers pushing further from the city. Six bidders pushed the price of a weatherboard house in McMahon Road Reservoir to $1,337,500,   from a $137,500 above reserve. This is $547,500 more than what the owners paid only two years ago after doing some renovations.