The Melbourne property market continues its strong performance with an 82% clearance rate from 594 auctions. The volumes of auction sales are well below last year where there were 820 auctions on the same weekend with a 79% clearance rate. Read Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
The market continues to be strong for houses in Melbourne outer South Easter suburbs.
A property a 2 Moama Place, Rowville sold for $1,200,500, over $100,000 above the reserve with four bidders pushing strongly for the keys. The owners paid $630,000 in 2015 and then did an extensive renovation.
Properties in Melbourne’s coveted high school zones are always popular. A house at 5 Alpha Street, Balwyn North is in the Balwyn high school zone and sold for $3,361,000 on 1040sq meters. The unrenovated property was last sold in 2017 for $2,450,000, netting the owners a nice profit.
https://www.realestate.com.au/property/5-alpha-st-balwyn-north-vic-3104/
Modern homes that you can just move the furniture into are big winners in Melbourne’s property market at the moment. A house at 19 Owen Street, Mitcham sold for $2,370,000 on 603sq metres of land and was rebuilt from scratch in 2016.
https://www.realestate.com.au/property/19-owen-st-mitcham-vic-3132/