Market Update 7th May 2024
By Advantage Property | 6th May 24
Melbourne’s property market continued its consistent performance with a 74% clearance rate from 682 auctions. The market is a similar market to last year where the clearance rate for the same weekend was 77% from a lower volume of 636 auctions. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights
Renovated properties continue to see strong results in the middle suburbs. A house at 16 Teralba Close, Dingley Village sold for $1,265,000 to a young couple. The auction attracted five buyers and sold for $130,000 above vendor’s expectations.
One of the strongest results on the weekend was a house in Glen Waverley that sold for $3,260,000. The turnkey renovated property had very good family accommodation with six bedrooms and five bathrooms on over 800m2 of land. The sale price was well above the $2,800,000 plus quote and the house being located in a number of good school zones was a big factor in the strong sale price.