Melbourne’s property market continues its improved performance with an 84% clearance rate from 524 auctions. The market is definitely stronger than this time last year where the clearance rate was 77% from a larger volume of 772 auctions. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
We are starting to see more runaway results as was seen with a Middle Park house which sold over $1,000,000 above reserve. The four bedroom house at 100 Wright St in Middle Park had three downsizers bidding strongly and it sold for $5,530,000, giving the owners a handy capital gain as they bought it for $1,480,000 in 2001.
https://www.realestate.com.au/sold/property-house-vic-middle+park-147833380
Family homes with good land content are always in strong demand as was seen with 106 The Boulevard in Aberfeldie which sold for $4,070,000. The renovated house was quoted at $3,000,000 plus and had four bedroom, four bathroom accommodation on a large 1,140m2 block and was last sold for $195,000 in 1992.
https://www.realestate.com.au/sold/property-house-vic-aberfeldie-147842476
Melbourne’s inner northern suburbs including Northcote are popular with young upsizing families. A property at 8 Knowles St in Northcote sold with strong competition for $3,285,000. The four bedroom, two bathroom home on 638m2 of land sold well above the $3,000,000 plus quote range. The owners had paid $252,000 for the unrenovated property in 1993.
https://www.realestate.com.au/sold/property-house-vic-northcote-147814284