Market Update July 26th 2023
By | 26th Jul 23

Market Update July 26th 2023

Buyers have much less choice in Melbourne’s property market at the moment with 27% less auctions compared to last year as this weekend we saw 449 auctions with a 74% clearance rate. A year ago there were 580 auctions and 122 more properties to choose from with a 65% clearance rate. Read all Melbourne’s auctions results here.

https://reiv.com.au/market-insights      

 

One of Melbourne’s biggest sales over the weekend was an unrenovated Victorian 3 bedroom terrace. The house in Bennett Street, Fitzroy North sold for $2.607 million on a small 255sqm parcel of land.

https://www.realestate.com.au/sold/property-house-vic-fitzroy+north-142467172        

 

Single level villa units continue to be highly sought after, particularly with downsizers. An villa in Myrtle Grove, Blackburn sold for $1,415,000. $165,000 over the reserve with 4 bidders.

https://www.realestate.com.au/sold/property-unit-vic-blackburn-142473048