Market Update June 20th 2023
By | 20th Jun 23

Market Update June 20th 2023

Melbourne’s property market saw a larger volume of auctions after the long weekend break with 589 reported auctions and a consistent 78% clearance rate.  Auction numbers continue to be well down on last years corresponding weekend when there were 961 auctions with a much lower 66% clearance rate.  Read all of Melbourne auction results below.

https://reiv.com.au/market-insights

 

The strongest result in the Melbourne auction market was a four bedroom two bathroom updated home in Davis Street Kew.  The house on approximately 600 sqm sold for $3,200,000, well above the $2,700,000 plus quote range.

https://www.realestate.com.au/sold/property-house-vic-kew-142236536?sourcePage=rea:p4ep:property-details&sourceElement=avm-currently-advertised-view-listing

 

The middle suburbs of Melbourne continue to see strong demand for updated homes.  Six bidders bid for an updated home in Evesham Road, Cheltenham which sold for $1,505,000, $200,000 above the reserve price as family homes are under supplied compared to demand

https://www.realestate.com.au/sold/property-house-vic-cheltenham-142191076