Melbourne’s property market continues its consistent improvement with a 84% clearance rate from 616 auctions. This is an improvement from last years 78% clearance rate from 677 auctions. Read all Melbourne’s auction results below:
https://reiv.com.au/market-insights/auction-results
One of Melbourne’s strongest results was the sale of 39 Lawanna Drive, Templestowe which sold for $1,350,000, $250,000 over reserve. The 4 bedroom, 2 bathroom house had 3 bidders with a young couple winning the keys after the owners had paid $268,000 in 1998.
https://www.realestate.com.au/sold/property-house-vic-templestowe-148562992
Single level villa units continue to be in strong demand for a number of demographic segments. A first home buyer beat 3 other bidders in a fast auction at 1/79 Fyffe Street, Thornbury which ended up selling for $1,040,000 after being quoted $840,000 plus.
https://www.realestate.com.au/sold/property-villa-vic-thornbury-148599628
Prime position properties are always in strong demand as was seen with a house at 1 Montgomery Street, Richmond which was in a popular Richmond Hill location. It was quoted at $1,800,000 plus and sold for $2,300,000 on only 143sq metres of land. The previous owners had bought it for $825,000 in 2011 so netted a nice capital gain.
https://www.realestate.com.au/sold/property-house-vic-richmond-148571708
