Stock levels continue to be a lot lower this Spring in Melbourne’s property market with only 469 auctions and a consistent 71% clearance rate. This is well below last years volume of auctions for the same weekend which was 943 and a clearance rate of 85%. Read Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
There are generally less bidders at Melbourne’s auctions at the moment as seen with 679 Rathdowne Street, Carlton North. 2 bidders pushed the price well above the $1.7 million plus price range to sell for $1,819,0000.
https://www.realestate.com.au/sold/property-house-vic-carlton+north-152101204
Family homes in Melbourne’s outer Eastern suburbs continue to be popular. A house at 23 Kilcunda Drive, Rowville sold for $1,336,000, $111,000 over reserve with 3 bidders pushing hard for the keys.
https://www.realestate.com.au/sold/property-house-vic-rowville-152107812
One of Melbourne’s strongest auction results was a unrenovated house on a large 1790sq metre block at 38 Brewster Street, Essendon. The house sold for $4.3 million with the 5 bedrooms 3 bathroom accommodation needing major work but the land content was the driving factor.
https://www.realestate.com.au/sold/property-house-vic-essendon-152081552