Weekly Market Update - 9th July 2019
By | 9th Jul 19

Should you sell or buy?

Melbourne’s property market continues its improvement with much improved clearance rates being seen this year. This weekend’s clearance rate of 72% was from a volume of 282 auctions. 

Our Group Block purchases continue to get some great results as we saw with a 1 bedroom unit converted into a 2 bedroom in Bishop Street Kingsville. Our repeat client sold through our Vendor Advocacy service for $497,000 after being purchased in 2014 for $260,000. Manipulating a floor plan by adding another bedroom can be a great way to add instant value.

We also had a very strong result in Embankment Grove Chelsea where a client settled earlier this year for $475,000. They just sold through our Vendor Advocacy service for $650,000 after we negotiated the highest bidder up $45,000. Our repeat client added value by converting the common area front yard to a big second courtyard.