Market update 15th November 2022
By | 17th Nov 22


Many of Melbournes sellers are holding back selling in the current market as the volume is much lower than previous Spring markets. There were only 659 properties auctioned on the weekend which had a 69% clearance rate compared to a Super Saturday auction results of 1364 last year and a 82% clearance rate. 


Renovated period homes continue to be highly sought after and demand is outstripping supply. A house in Park Drive, Parkville sold for $3,535,000 which was $330,000 above reserve. The purchaser was a downsizing couple. 

Another renovated property sold strongly in Rankins Rd, Kensington smashed its reserve by $363,000 the house sold for $2,463,000 with four bidders amongst the competition.