Melbourne’s property market has jumped a gear as we are seeing more bidders at the auctions our Buyers Advocates attend and there is now an improved clearance rate of 83% compared to a year ago when it was 78%. There were 786 auctions on the weekend compared to 908 for the same weekend last year. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
Melbourne’s market is improving dramatically as was seen through the sale of our vendor advocacy property located at 20 Peachey Court in Pascoe Vale. The property sold for $1,215,000 with six bidders pushing it $165,000 over the reserve. A superior property at number 11 in the same court sold for $1,070,000 a month ago and was $145,000 less than the price we achieved for our clients.
https://www.realestate.com.au/sold/property-house-vic-pascoe+vale-148838612
Villa units continue to be popular with downsizers as was seen at the auction of 3/77 Patty St in Mentone. Four parties battled for the property keys with two being downsizers. The property sold for $1,200,000 and $200,000 above the reserve.
https://www.realestate.com.au/sold/property-townhouse-vic-mentone-148900864
One of the strongest auction results on the weekend was the sale of a renovated house at 75 Bridge St in Port Melbourne. The five bedroom, three bedroom renovated property sold for $4,510,000 and the property’s main road location didn’t hold it back. The sale netted the owners a nice profit after having purchased it in 2013 for only $1,880,000
https://www.realestate.com.au/sold/property-house-vic-port+melbourne-148837100