Melbourne’s property market continues its consistent performance with a 69% clearance rate from 417 auctions. The market is again giving more opportunities to buyers than a year ago when the clearance rate was a much higher 87% from a much larger volume 813 of auctions. Read Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
There continues to be some surprising runaway results as seen with a house at 2 Rosslyn Street, Hawthorn East which sold for $2,205,000. It was a whopping $305,000 above reserve and 3 bidders pushed the price well above the vendors expectations.
https://www.realestate.com.au/sold/property-house-vic-hawthorn+east-151931936
Buyers shouldn’t be scared to make offers before auction in the current market as there will be more vendors like the owners of 3/25 Ti-tree Grove East, Parkdale which was sold before auction. The property sold for $830,000 to a young couple as the owners didn’t want to take the risk with going ahead with an auction and they had a solid offer before auction.
https://www.realestate.com.au/property-unit-vic-parkdale-151954844
One of Melbourne’s strongest auction results of the weekend was 13 Tara Avenue, Kew where the 4 bedroom 2 bathroom original home sold for $2,875,000. It was well above the $2.35 million plus quote and it was on a large 775sq metre block with the owners netting a nice windfall as they bought the house for $90,000 in 1979.
https://www.realestate.com.au/sold/property-house-vic-kew-151965808
Period style renovated homes continue to be highly sought after by buyers who want a lock up and leave and ready to move into property. A Victorian terrace at 105 Raglan Street, South Melbourne sold for $2,360,000. It was a 3 bedroom 2 bathroom home on a small 142sq metre block and was quoted at $2.1 million plus.
https://www.realestate.com.au/sold/property-house-vic-south+melbourne-151976872