Melbourne’s property market continues to go from strength to strength with an 85% clearance rate from 895 reported auctions on another Super Saturday auction weekend. The clearance rate is significantly higher than the 77% recorded for the same weekend last year which was from a slightly higher amount of 990 auctions. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
Well designed spacious townhouses continue to be popular with a number of buyer segments. A four bedroom, three bathroom modern townhouse at 19B Davie Avenue in Cheltenham sold for $1,725,000 with two bidders pushing the price to a strong result.
https://www.realestate.com.au/sold/property-townhouse-vic-cheltenham-148900792
One of the strongest sales results from the weekend was the sale of a house with water views at 135 Smith St in Lorne. The five bedroom, four bathroom property on 803m2 needed some major renovation but still ended up selling for $4,200,000 with 4 bidders being attracted to the water views.
https://www.realestate.com.au/sold/property-house-vic-lorne-148849744
Period style homes that are renovated and in good school zones continue to attract many families. A house at 74 Andrew St in Northcote sold for $3,029,000 after being quoted at $2,600,000 plus. The owners bought the property in 1984 for only $135,000 and made a considerable profit due to the renovations they made result would have been helped by being in the popular Northcote High School zone.
https://www.realestate.com.au/sold/property-house-vic-northcote-148867324