Market Update March 28th 2023
By | 28th Mar 23

Market Update 28th March 2023

Melbourne’s property market passed another super Saturday test with flying colours with a 78% clearance rate with over 1000 scheduled auctions.  There were 742 reported auctions and auction volumes continue to remain much lower as there were 1329 auctions the same weekend last year. Read all of Melbourne’s auctions results below.


Four bedroom family homes continue to be the star performers in Melbourne’s property market.  A house in Westbank Terrace, Richmond had lots of interest from young families and sold for $1,770,000, $170,000 above reserve.  There were 4 bidders and most were mainly young families fighting for the keys.


Four bedroom homes are in strong demand and spirited bidding saw a house in Orient Avenue, Mitcham sell for $1,207,000.  A number of bidders bid strongly and pushed the price $307,000 over reserve.