Melbourne’s property market had a breather with the Labour Day long weekend seeing only 284 auctions and another consistent clearance rate of 78%. There was a similar volume last year on the public holiday weekend with 310 auctions and a lower clearance rate of 71%. Read Melbourne’s auction results below.
https://reiv.com.au/market-insights
One of the strongest auctions results of the weekend was the sale of 5 Duggan St Balwyn North which sold for $3,426,000. The house that needed work and had four bedroom, two bathroom accommodation, was sought after because of it’s Balwyn North school zone address and over 1000m2 of land.
https://www.realestate.com.au/sold/property-house-vic-balwyn+north-144248664
Downsizers were out in force for an auction at 4 Reid St Beaumaris. The modern style family home sold for $2,905,000, $155,000 over reserve. Four bidders including mainly downsizers were the most interested parties in the architectural home with multiple living areas.
