Market Update June 6th 2023
By | 6th Jun 23

Market Update June 6th 2023

A regular complaint we hear from buyers is that there isn’t enough stock to choose from and this is reflected in the small auction volumes with this weekend only having 546 auctions and a strong 79% clearance rate again.  This is well below the 998 auctions that buyers had to choose from last year when there was a 69% clearance rate.  Read all of Melbourne’s auction results below.

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

 

The biggest auction result for the weekend was for a house in Alfred Crescent, Fitzroy North which sold for $6,300,000.  It was passed in for $6,050,000 and sold afterwards to the highest bidder.  The home featured six bedrooms on a big parcel of inner-city land of 1156 sqm.

https://www.realestate.com.au/sold/property-house-vic-fitzroy+north-142115088

 

The entry level end of the market continues to be as strong as ever.  A house in Devoy Street, Oakleigh South sold for $906,000 to a young couple.  Even though it was on a subdivided block, the home attracted seven bidders as it had no common land and sold well above the $700,000 plus quote range. 

https://www.realestate.com.au/property-house-vic-oakleigh+south-142089364