Market Update 22nd November 2023
By | 22nd Nov 23

Melbourne’s property market is consistently performing stronger than a year ago. The clearance rate was 73% this weekend from 824 auctions, nearly 9% higher than the 64% clearance rate from 827 auctions the same weekend last year. Read all Melbourne’s auctions result below.      

One of the Melbourne’s strongest auction results for the weekend was the sale of a house in Prospect Road, Northcote. The property sold for $3.015 million, $265,000 over the reserve with 2 strong bidders. 

It is interesting to see how far prices have increased in Melbourne’s inner suburbs. A house in Hickford Street, Brunswick East sold for $1.8 million. I bought my first home across the road in 1995 for only $168,000. Prices in the area have gone up tenfold in the last 28 years.