Weekly Market update 30th November 2021
By | 1st Dec 21

Melbourne’s property market is giving more opportunities to buyers now with the clearance rate reducing to 75% from 1066 reported auctions. Another Super Saturday saw much more choice and will be followed by another two Super Saturdays to follow. Read the latest auction results below. 

Period style properties in the Bayside areas are performing really well at the prestige end of the market. A 4 bedroom home in Middle Park sold for $9.8m yesterday with many bidders pushing the price $750,000 over reserve. 

Properties in prestige streets continue to always perform strongly. A house in Addison Street, Elwood sold with strong competition with 5 bidders pushing the price to $2,605,000. I remember buying a similar single fronted home two doors away for $625,000 in 2002 showing how far the market has continued to rise.