Market Update June 27th 2023
By | 27th Jun 23

Market Update June 27th 2023

Melbourne’s property market continues to have much lower stock levels with 36% less auctions this weekend compared to last year.  There was a 76% clearance rate from 504 auctions compared to last year with a 70% clearance rate from 790 auctions.  See all Melbourne’s auction results below.

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

 

A renovated family home in Darling Street, Fairfield smashed its reserve and sold for $2,600,000.  Four bidders pushed the price over $400,000 above the reserve with the initial winning bidder changing their mind. 

https://www.realestate.com.au/sold/property-house-vic-fairfield-142289144?sourcePage=rea:p4ep:property-details&sourceElement=avm-currently-advertised-view-listing

 

Five bidders fought it out for a run down one bedroom art deco apartment in Garden Avenue, East Melbourne.  The property was quoted at around $500,000 and sold for $740,000, $240,000 above the reserve price.

https://www.realestate.com.au/sold/property-apartment-vic-east+melbourne-142260804?sourcePage=rea:p4ep:property-details&sourceElement=avm-currently-advertised-view-listing