Weekly Market update 13th December 2022
By | 19th Dec 22

Melbourne's property market is suffering from a lack of stock compared to the last few years. There was over a 1000 less auctions this weekend with a total of 753 auctions and a 69% clearance rate compared to the same weekend last year which saw a 76% clearance rate from 1867 auctions. 

The First Home buyer end of the market continues to be rock solid we had a number of young First Home Buyers competing for a house in Skipton Street, St Albans which sold for more than $122,000 over reserve selling for $722,000. 

First home buyers continue to dominate the entry level of the apartment market. Our Vendor Advocacy client sold a 3 bedroom apartment in Paxton St, Malvern East for $595,000 with two young home buyers fighting it out for the keys.