Melbourne’s property market continued its consistent performance with a 73% clearance rate from 290 auction results for the weekend. This is more of a buyer’s market than last year where the clearance rate was 86% from a larger volume of 456 auctions. Read Melbourne’s auction results below:
https://reiv.com.au/market-insights/auction-results
One of the strongest auction results was the for the updated house at 161 Stewart Street, Brunswick East which sold for $1,874,000. Brunswick East has come a long way since I bought a similar house around the corner for only $168,000 as a first home buyer in 1995.
https://www.realestate.com.au/sold/property-house-vic-brunswick+east-151499744
Renovated turnkey properties continue to see strong demand as seen with 10 Larkin Court, Doncaster East. The 4 bedroom 2 bathroom modern home with pool on a family friendly 786sq metre block sold for $1.6 million which was a nice profit for owners as they paid $333,000 back in 2001.
https://www.realestate.com.au/sold/property-house-vic-doncaster+east-151584496
The entry level end of the market continues to be rock solid as we seen with 11 Christina Court, Werribee which sold for $796,000. 5 bidders including a young couple with a child pushed the price $100,000 over the reserve.
https://www.realestate.com.au/sold/property-house-vic-werribee-151501860