Melbourne’s market had one of its strongest auction weekends for the year with a 85% clearance rate from 948 scheduled auctions, as time is running out for buyers with only one remaining auction weekend before Christmas. Last year, the clearance rate on the same weekend was much lower at 72% from 1024 reported auctions. Read all Melbourne’s auction results below. Will the clearance rate be stronger next year when interest rates drop?
https://reiv.com.au/market-insights/auction-results
One of the strong sales results on the weekend was the sale of a renovated heritage home at 48 Leonards Rd in Ascot Vale which sold for $1,810,000. A local buyer fought off some other fierce bidding for the updated three bedroom one bathroom home. Who would’ve imagined a couple of decades ago that a single fronted terrace in Ascot Vale would sell for over $1,800,000?
https://www.realestate.com.au/sold/property-house-vic-ascot+vale-146518128
One of the stellar results of the weekend was the sale of a fully renovated property at 14 Lorgrove Court in Avondale Heights which sold for $3,025,000, well above the $2,350,000 plus quote range. The owners made a considerable profit after purchasing the property in 2019 for $1,735,000 and they did an extensive internal renovation. Are renovated family homes going to continue to be star performers next year as well?
https://www.realestate.com.au/sold/property-house-vic-avondale+heights-146591384
