Market update 4th October 2022
By Advantage Property | 5th Oct 22
Melbourne's property market saw another consistent clearance rate of 69% from 542 auctions. There are much more opportunities for buyers this year compared to the 92% clearance rate last year on the same weekend.
Renovated family homes continue to be gold in Melbourne's property market. A 4 bedroom house in Bowmore Street, Hughesdale sold for $2,126,000 which was $126,000 above reserve. Six bidders competed with a young couple who plan on getting married next year winning the keys.
A brick house in George St, Preston had some strong interest from buyers. A young first home buyer couple purchased the property with competition from 4 buyers and the property sold for $920,000.