Melbourne’s property market had another consistent weekend with an 83% clearance rate from 809 auctions and a hold on interest rates didn’t really impact the market. The market is stronger than last year where the clearance rate was 78% from 1017 auctions. Read Melbourne’s auction results below
https://reiv.com.au/market-insights/auction-results
One of the strongest sales for the weekend was 37 McCarron Parade, Essendon where a 4 bedroom, 2 bathroom updated home sold for $4,315 000. The property was on a good size block of 670sq metres and the owners made a nice profit as they bought it for $1,500,000 in 2012.
https://www.realestate.com.au/sold/property-house-vic-essendon-149316500
Period style homes that are updated continue to get strong results in family friendly suburbs like Northcote. 394 Clarke Street, Northcote had 4 bedrooms 2 bathroom accommodation and was quoted at $2,700,000 plus and sold for $3 million.
https://www.realestate.com.au/sold/property-house-vic-northcote-149342796
The entry level end of the market continues to be buoyant as seen with a house at 10 Mottled Avenue, Epping. The 3 bedroom 2 bathroom home was quoted $650,000 plus and 5 bidders pushed it well above this to sell for $756,000.
https://www.realestate.com.au/sold/property-house-vic-epping-149293648