Melbourne’s property market continued its strong performance and passed another super Saturday test with 84% clearance rate from 707 reported auctions with over 1,000 scheduled auctions. This is again much stronger then the same weekend last year where it was 78% from 837 auction results. Read Melbourne’s property results below.
https://reiv.com.au/market-insights/auction-results
One of the strongest auction results was for a renovated period home at 41 McCarron Parade, Essendon which sold for $3,300,000. The 6 bedroom, 4 bathroom home with a pool was close to four schools and gave the owners a nice profit as they bought it for $800,000 in 2002.
https://www.realestate.com.au/sold/property-house-vic-essendon-149128832
It’s amazing how much the Beacon Cove Mirvac houses have sold for since they were first built back in the 90’s. 18 Swallow Street, Port Melbourne just sold for $2,835,000 after being quoted at $2,600,000 plus and was bought by the owners for only $440,000 in 1996.
https://www.realestate.com.au/sold/property-house-vic-port+melbourne-149136768
Werribee is almost hitting the million dollar price tag for family homes in some instances as seen with 2 Wattle Avenue, Werribee which sold for $946,000. There were 3 bidders that pushed the property price $56,000 over reserve and well above what the owners paid for it 12 years ago.
https://www.realestate.com.au/sold/property-house-vic-werribee-149144588