Market Update May 10th 2023
By | 10th May 23

Market update May 10th 2023

Melbourne’s property market continued its consistent performance with a 78% clearance rate from 471 auctions. The clearance rate has been consistently higher than the same weekend last year in the last month.  Last year for the same weekend there was a 72% rate from a larger 733 volume of auctions. Read all of Melbourne auction results below.


First home buyers continue to dominate the sub million dollar price bracket.  A first home buyer bought a property in Highett Road, Highett for $1,005,000 beating three other bidders to the keys.


Renovating a property can add much value in the short term as was seen with a house in Gordon Avenue, Clifton Hill.  The owners paid $840,000 in 2021 and it sold for double more under the hammer for $1,900,000.  Three bidders pushed it $250,000 above the reserve.