Market Update 30th July 2024
By Advantage Property | 30th Jul 24
Melbourne’s winter auction volumes are down at least 20% from last year when there were 701 auctions with a 76% clearance rate this same weekend. This year we’re seeing a lower volume of 515 reported auction results with a 77% clearance rate. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
One of the standout results was the sale of 17 Beaver St, Aberfeldie which sold for $4,900,000. The four bedroom, three bathroom period style home on a large 904m2 block sold well after being bought for $3,850,000 in 2019, making it over a million dollar increase in just 5 years.
The main road location didn’t deter buyers from bidding strongly for 165 Kerferd Rd in Albert Park which sold for $2,670,000. The property needing work and was quoted from $2 million plus. It netted a nice windfall for the owners as it was bought in 1981 for only $104,000.
https://www.realestate.com.au/sold/property-house-vic-albert+park-145406588