Melbourne’s property market continues to give more opportunities to buyers with a 70% clearance from a small volume of 291 auctions. The market was tougher for buyers last year where the clearance rate was 87% from a larger volume of 503 auctions. Read Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
Family homes continue to see strong results as seen with the sale of a 3 bedroom 2 bathroom house at 155 Park Street, Moonee Ponds. The property was quoted at $1.65 million plus and sold for $1.92 million on a 435sq metres block and the owners had previously bought it for $730,000 back in 2002.
https://www.realestate.com.au/sold/property-house-vic-moonee+ponds-151532116
There is less demand for properties that require renovation as many of our Buyer’s Advocate clients are wanting to move into renovated properties. A 3 bedroom run down house on a corner block at 58 Park Road, Surrey Hills sold just over the quote range for $1,590,000. The owners had a nice windfall as they bought it for $49,000 back in 1979 and it sold again for land value.
https://www.realestate.com.au/sold/property-house-vic-surrey+hills-151540932
Turnkey modern properties continue to see strong demand as seen with the sale of 24 Yale Avenue, Keysborough. The 5 bedroom 3 bathroom modern home sold for $1,670,000 and the owners previously bought it for $1,150,000 in 2019.
https://www.realestate.com.au/sold/property-house-vic-keysborough-151455448