Market Update 5th July 2021
By | 7th Jul 21

Melbourne’s property market continues its solid performance with a 81% clearance rate from 743 reported auctions with strong demand at many house auctions. We’re now starting to see more investors come back into the market, which was bound to happen as they always tend to come back into the market when it's performing strongly and looks set to continue. 

Records continue to be smashed in Melbourne’s marketplace in many Bayside suburbs. Brighton has achieved a record house result with a house in Kent Avenue having a reported sale of over $27 million, smashing the previous record by millions. 

We continue to see runaway results in Melbourne’s popular inner suburbs. Family homes continue to see strong demand with 5-plus bidders, as was seen at a period house auction in Moonee Ponds. These bidders ended up pushing the price $526,000 over reserve to a sales result of $3,026,000, showing how popular family homes are and the scarcity of them on the market.