Market Update 1st September 2021
By | 1st Sep 21

Melbourne’s housing market continues to be affected by Melbourne’s sixth lockdown as auction numbers continue to be well below normal levels. A clearance rate of 99% from only 218 auctions reported yesterday as the REIV and real estate industry bodies continue to push for private one on one inspections to reopen in the property market. 

Another record result where a neighbour's Elwood house smashed our record out of the park by nearly $2.6 million more. Never seen a property market like this in my 26 years involved with property. Our Elwood house record of $6.82 million thirteen months ago was easily beaten by my clients' house across the road selling for a whopping $9.4 million. Crazy times!

Melbourne’s prestige Bayside suburbs continue to see massive results with buyers buying properties without inspecting them. The winning buyer purchased a modern home with a pool in Brighton East without inspecting the property, paying around $400,000 over reserve. The luxury house with pool at 3 Collis Street, Brighton East sold for $4,362,000 with five buyers pushing the price well over the $3,950,000 reserve with pools highly sought after in this COVID era.

 

View the full market update HERE