Melbourne’s market has seen a considerable improvement as the clearance rate was 84% from 477 auctions on the weekend. This is nearly a 10% improvement from the same time last year where the clearance rate was 77% from 840 auctions. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
One of the strongest results was for a modern home at 10 Daphne St in Doncaster East which sold for $3,695,000. The owner purchased the old house in November 2023 for $1,413,000 and built the new five bedroom home. It sold well above the quote range of $2,980,000 plus.
https://www.realestate.com.au/sold/property-house-vic-doncaster+east-147663012
The owners of 4 Karrala Court in Chirnside Park would not have expected their property to sell for $1,460,000, after purchasing it for $45,000 in 1982. Two bidders pushed the price to a high level as they wanted the property for its spectacular views over the Yarra Valley.
https://www.realestate.com.au/sold/property-house-vic-doncaster+east-147663012
Melbourne continues to see more runaway results as was seen with the sale of 16 Station St in Coburg which sold for $1,175,000. The property sold for $295,000 above reserve with five bidders not deterred that the property backed on to train tracks.
https://www.realestate.com.au/sold/property-house-vic-coburg-147804028
School zones are seeing strong demand in Melbourne’s middle suburbs. A house at 19 Immarna Rd in Camberwell sold for $2,610,000. The house on 725m2 was located in the Canterbury/Camberwell school zones and was bought by the owners in 1990 for $210,000, giving them a nice capital gain.
https://www.realestate.com.au/sold/property-house-vic-camberwell-147823244
Single level houses are proving popular with downsizers as was seen with the sale of 27 Stringybark Close in Ferntree Gully. Three downsizers fought for the property with it selling for $1,780,000, which was a whopping $380,000 above reserve. The single level floor plan was the main reason for its popularity with the downsizers.
https://www.realestate.com.au/sold/property-house-vic-forest+hill-147755160