Market Update May 15th 2023
By Advantage Property | 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