The Melbourne property market has started the year on a positive note with a 82% strong clearance rate from 384 auctions. The market is stronger than this time last year where the clearance rate was 79% from a higher amount of 566 auctions. We expect to pick up further as soon as the first rate cut occurs, which could be as soon as next week. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
Trophy properties in blue chip locations are always in strong demand. A five bedroom family home on 771m2 land in Brighton’s golden mile, was one of the strongest results of the week. The house with water and city views located at 36 Dawson Avenue in Brighton, sold for $8,500,000.
Brunswick has come a long way since I bought my first house in Hickford Street for $168,000 in 1995. A house that was literally around the corner from my first property and located at 107 Blyth St in Brunswick sold for $1,435,000. This was $85,000 above reserve, with local first home buyers and interstate buyers fighting for the keys.
https://www.realestate.com.au/sold/property-house-vic-brunswick-146979540
