Market Update 17th of 2022
By | 18th May 22

Melbourne's property market continues its consistent run with a 71% clearance rate from 882 auctions. Though there are less bidders now per auction as at most auctions now, we are seeing only two bidders as compared to four or five bidders in the earlier part of this year. 


There is definitely no slowing down in the Mornington Peninsula suburbs of Dromana and McCrae. A house with bay views and modern finishes sold for nearly $4,000,000 in Prospect Hill Rd Mccrae, selling for $3,935,000 after auction. 


Good news for buyers as there is definitely less competition out in the market now. A 2 bedroom villa unit  in Westgarth St, Northcote sold for $690,000 before auction. One sold in the same block for $705,000 earlier this year. Showing that the market is now providing buyers with more oportunities to buy better.