Market Update 9th November 2021
By | 10th Nov 21

Melbourne’s property market continues its solid run of auction results with 82% clearance rate from a small volume of 852 auctions this weekend. This was well down from the Super Saturday last weekend with 1481 auctions last weekend. The Block auctions dominated the news this weekend with all five properties selling under the hammer for a combined total over reserve of $2,271,968.12 .

Congratulations to all the contestants on their results on the Block last night with a total of $2,271,968.12  winnings. A big congratulations to Mitch and Mark for winning the series. It was great to buy the twins property for a Sydney investor looking to eventually relocate to Melbourne. They are excited about their new property, buying it well below their budget.

We continue to see runaway results in Melbourne’s market place. Who would have thought we would continue to see houses smash reserves by $2 million as was the case with a house in Albert Park in St Vincent’s Place North which sold for over $11 million with strong competition pushing the price well over reserve.