Melbourne’s property market has a much lower volume of properties on the market at the moment as the auction volume was only 312 results on the weekend with a consistent 67% clearance rate. This is much lower volume than last year where there was 755 auctions on the same weekend with a much stronger 86% clearance rate. Read Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
There continues to be some surprising runaway results in Melbourne’s marketplace as we’ve seen with 9 bidders bidding for 16 Currajong Avenue, Selby. The property sold over $100,00 above reserve for $900,000 after it as quoted at $730,000 plus.
https://www.realestate.com.au/sold/property-house-vic-selby-151935880
Renovated family homes continue to be rock solid in Melbourne’s marketplace as we’ve seen with 26 Eltham Street, Flemington. The renovated 5 bedroom family home on a small 388sq metre block sold for $2.6 million as there are less runaway results with a $2.5 million price range. The owners netted a nice windfall as in 1999 they sold for $349,000.
https://www.realestate.com.au/sold/property-house-vic-flemington-151880248
Family homes on good size blocks continue to see strong demand. A 5 bedroom 2 bathroom property on a large 4,051sq metre block sold 8 Tandarook Crescent, Donvale for $2,203,000. The 5 bedroom 2 bathroom home had been updated and it had many family friendly features including the acre block it was positioned on.
https://www.realestate.com.au/sold/property-house-vic-donvale-151873188