Melbourne’s property market saw another strong clearance rate of 80% from a reasonably large volume of 775 recorded auctions.
This is similar to the same weekend of last year where there was a 82% clearance rate from a much smaller volume of 225 recorded auctions. Read all Melbourne’s results below.
https://reiv.com.au/market-insights/auction-results
One of the strongest results of the weekend was for the sale of 28 Uvadale Rd in Kew which sold for $3,705,000 The five bedroom, two bathroom home was quoted at $3,100,000 plus and it was bought in 1982 for only $147,000 by the current owners.
https://www.realestate.com.au/sold/property-house-vic-kew-147425916
Nine bidders fought it out for an unfashionable house in Coolaroo that sold for $670,000. The house at 3 Almurta Ave in Coolaroo was quoted at $550,000 plus with an 18 year old beating four interstate bidders to the keys and paying $70,000 above the reserve.
Renovated turn key properties in Melbourne’s popular inner North West suburbs such as Essendon continue to be in strong demand. The house at 45 William St in Essendon was quoted at $2,900,000 plus and sold for $3,095,000. The house on 580m2 of land with five bedrooms and a pool was purchased by the owners for $320,000 in 2001.
https://www.realestate.com.au/sold/property-house-vic-essendon-147268540
