Melbourne’s property market continues its improved performance with a 84% clearance rate from 448 auctions. The volume continues to be a lot lower than last year where there were 642 auctions with a lower clearance rate of 81%. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
You know Melbourne’s market is on the improve when you have 11 bidders at an auction of a 2 bedroom townhouse at 3/5 Fraser Court, Jacana. A Sydney investor beat a number of locals to push the price to $515,000, well above the $410,000 plus quote range after the owners bought the property in 2014 for $310,000.
https://www.realestate.com.au/sold/property-townhouse-vic-jacana-148503076
One of Melbourne’s strongest auction results was the sale of an unrenovated Edwardian at 514 Park Street, Princess Hill. The 4 bedroom, 1 bathroom original home on 552sq metres of land which has not resold since it was built in 1900 sold for $2.9 million, well above the $2.5 million plus quote range.
https://www.realestate.com.au/sold/property-house-vic-carlton+north-148530120
Ground floor apartments with courtyards continue to see strong demand. We were able to secure 1/5 Alfred Street, Caulfield for a downsizer repeat client for $661,000, well below our client’s upper budget limit but had competition from four other buyers. The owner had bought the property for $132,000 in 1996.
https://www.realestate.com.au/property-apartment-vic-caulfield-148529656
Renovated turnkey family homes are in strong demand as seen with 12 Peppermint Court, Doncaster East. The 4 bedroom, 3 bathroom renovated property which was built in 1980 and sold for $2,755,000, well above the $2.2 million plus quote range.
https://www.realestate.com.au/sold/property-house-vic-doncaster+east-148517732