Market Update May 15th 2023
By | 15th May 23

Market Update May 15th 2023

Melbourne’s property market continued its consistent performance with an 80% clearance rate from a low volume of 537 auctions. The volume again is well below the 1058 auctions last year where there was a 71% clearance rate.  We are definitely seeing a shift in being more of a sellers’ market now.  Read all of Melbourne’s auction results below. 

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

 

Properties that have some land content are always in hot demand.  A townhouse style property with a large private courtyard in Seymour Avenue, Armadale sold for $1,301,000.  this was well above our clients budget and the $900,000 to $990,000 quote as land is always king with this large private yard.

https://www.realestate.com.au/sold/property-townhouse-vic-armadale-141973580

 

There continues to be strong results for period homes across Melbourne’s inner suburbs.  A five bedroom Victorian Italianate house in Moonee Ponds sold for $4,640,000, well above it $3,750,000 plus quote with two bidders.  The winning bidder was relocating from Queensland and won the keys.

https://www.realestate.com.au/sold/property-house-vic-moonee+ponds-141871252