Market Update 25th of October 2022
By | 26th Oct 22


Melbourne's property market passed its first Super Saturday test with over 10000 scheduled auctions. The clearance rate that has been reported so far was 69% from 788 auctions. This is still well below the volume that we saw last year when we saw 1200 auctions and a much higher clearance rate of 90%. 

Renovated turn key family homes continue to be the star performers in Melbourne's property market. A property in Palm Court Lysterfield sold for $2,323,000 with two bidders in the end pushing the price $600,000 above reserve.


Period style properties continue to be in strong demand at the entry level end of the market. A terrace in Highett Place, Fitzroy sold for $1,460,000, which was $260,000 above reserve with a young family winning the keys.