Market Update 14th March 2023
By | 14th Mar 23

Melbourne’s property market took a breather over the Labour Day long weekend only seeing around 380 auctions scheduled. The clearance rate was a consistent 70% from 272 reported auctions. This was again following the trend being well below last year’s Labour Day long weekend of 492 auctions which had a 79% clearance rate. Read all of Melbourne’s auction results below.      

A 3-bedroom Preston fixer upper smashed it’s reserve by $105,000 after a bidding war between two investors. The house in Wood Street sold for $905,000, $105,000 above the reserve price.

A modern style house in Bicentennial Court, Doncaster East sold for $2.3 million, $200,000 above reserve with 5 bidders fighting for the keys. It was a cashed up upsizing family again that won the keys from the 4 other bidders.