Melbourne’s property market is now presenting more opportunities for buyers with a 75% clearance rate from 879 auctions. The clearance rate was higher last year for the same weekend as it was 83% from a similar volume of 880 auctions. Read Melbourne auction results below:
https://reiv.com.au/market-insights/auction-results
One of Melbourne’s strongest auction results was for the 4 bedroom house in Park Street, Moonee Ponds that required some renovation and was in original condition and sold for $3,075,000. It was on a large 1,255sq metres block in one of Moonee Ponds best streets as a property sold in the street for a record $13.5 million last year.
https://www.realestate.com.au/sold/property-house-vic-moonee+ponds-150427800
There continues to be strong demand in Melbourne’s middle Eastern suburbs. A house at 9 Pine Avenue, Camberwell sold for $3.6 million and the 5 bedroom 3 bathroom house was quoted at $3.3 million plus and was on a large 836sq metre block with no heritage overlay.
https://www.realestate.com.au/sold/property-house-vic-camberwell-150426720
The entry level end of the market continues to be strong as we have seen with a 1 bedroom villa 6/34 Parks Street, Moonee Ponds which sold for $545,000, nearly $80,000 above expectations. Buyers fought to buy in the prestigious street where there was a $13.5 million dollar record sale last year and there were 5 interested parties bidding well above the $425,000 plus price quote.
https://www.realestate.com.au/sold/property-unit-vic-moonee+ponds-150408180
There continues to be strong demand for family homes as e seen with the sale of a large Eltham North house at 62 Progress Road. The property on a half acre lot was quoted at $1.25 million plus and sold for $1,535,500 with three families fighting it out.
https://www.realestate.com.au/sold/property-house-vic-eltham+north-150396280