Market Update April 19th 2023
By Advantage Property | 19th Apr 23
Melbourne’s property market seems to be improving as clearance rates have improved. A clearance rate of 79% was recorded last weekend from 611 auctions as auction volumes and supply are definitely down on previous years. Read all of Melbourne auction results below.
https://reiv.com.au/market-insights
Family homes continue to see multiple bidders at most auctions across Melbourne. A three bedroom Victorian Terrace in Hudson Street, Coburg sold for $1,902,000 with 5 bidders pushing the price $102,000 above reserve.
https://www.realestate.com.au/sold/property-house-vic-coburg-141629848
There continues to be strong interest in the entry level end of the market with first home buyers dominating. A two bedroom apartment in Hotham Street, East Melbourne sold for $851,000, $81,000 above reserve with 6 bidders and an ex-pat buyer based in Vietnam winning the keys.
https://www.realestate.com.au/sold/property-apartment-vic-east+melbourne-141739632