Market Update 27th May 2024
By Advantage Property | 27th May 24
Melbourne’s property market continues its consistent performance with a 76% clearance rate from 656 auctions. This was similar to last year when the clearance rate was a slightly stronger 80% from a larger volume of 750 auctions. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights
Renovating can be a great way to add profit or create equity. A house at 24 John St, Williamstown that was renovated with a double storey extension sold for $1,915,000 after being bought in 2016 for $920,000, with two bidders pushing the price $65,000 above the vendor’s reserve.
https://www.realestate.com.au/property-house-vic-williamstown-144886692
One of the biggest results on the weekend was the sale of an unrenovated property at 10 Lytton St, Kew. The house which had five bedroom, four bathroom family accommodation was on a large 1,890m2 block with a tennis court with the big block the driving factor behind the big sale price of $8,600,000.