Melbourne’s property market saw another consistent auction clearance rate of 81% from a small volume of only 405 recorded auctions on the weekend. On the same weekend last year, the clearance rate was a lower 78% from a larger volume of 952 auctions. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
One of the strongest auction results of the weekend was for a renovated period home at 45 William St in Essendon. The property was quoted at $2.9 million plus had four bedrooms, two bathrooms sold for $3,595,000, netting the owners a considerable profit after they purchased it for $425,000 in 2001.
https://www.realestate.com.au/sold/property-house-vic-essendon-147268540
Period homes in Melbourne’s inner bayside suburbs such as Elwood continue to see strong demand. A house at 46 Southey St sold for $3,300,00. The four bedroom, three bathroom on 768m2 of land was purchased by the owners for $1,100,000 back in 2013.
https://www.realestate.com.au/sold/property-house-vic-elwood-147047816
