MARKET UPDATE 31ST JANUARY 2024
By | 31st Jan 24

Melbourne home buyers that are hoping to get into certain areas have long wait times as some suburb owners are not selling for 20 years. Vermont, Caulfield and Keilor Downs all had average sale periods of 20 years. The higher the median value of the suburb generally the longer the hold period is.

https://www.mortgagechoice.com.au/news/australias-most-tightly-held-suburbs-where-people-buy-and-never-want-to-leave/?fbclid=IwAR2Fl-TOnt-Smq6IA2xpfLwwtrOtJdH4G0Kd3m40jP4rtYoLw7NnWh9SPgo_aem_AVyCczicEpPFRvGDFMmrD6U5HAqxTlwFrnhsoamjHquKyUxg9iH4mdjZWiq1d0m0nmA

 

Demand continues to be strong from first home buyers for entry level apartments as was seen with our Vendor Advocacy sale of a one bedroom apartment in Clarence Street, Malvern East. Though, an investor pipped 3 first home buyers with a $311,000 bid to secure this apartment.

https://www.realestate.com.au/property-apartment-vic-malvern+east-144015052        

             

Melbourne’s auctions kicked off with a record result in McCrae. A long held boat shed in McCrae sold for $505,000 which is believed to be a record in the area, $55,000 above the reserve.

https://www.domain.com.au/26-boatshed-foreshore-mccrae-vic-3938-2018970958