Melbourne’s property market continued its strong performance with a 83% clearance rate from 748 reported auctions with over 742 million dollars of property sold at auction. This was again an improvement on last year’s 78% from 824 auctions. Read all of Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
Properties that have a wow factor continue to see runaway results. A house at 96 Yarra Street, Abbotsford sold for $2,196,000, $347,000 over reserve. Its heritage features and unique offering saw 3 bidders push the price well above reserve.
https://www.realestate.com.au/sold/property-house-vic-abbotsford-149486172
The entry level end of the market continues to be dominated by first home buyers as seen with the auction of 80 Powlett Street, Altona Meadows. It sold for $60,000 above reserve with 5 bidders, all young first home buyers, competing for the keys with no investors in sight.
https://www.realestate.com.au/property-house-vic-altona+meadows-149460052
Renovated period homes continue to see strong demand from families. A house on a main road at 181 Cotham Road, Kew sold for $3,085,000 well above the $2,600,000 plus quote. The 4 bedroom 2 bathroom home was on a good size block of 608sq metres and it had been updated and was ready to move in to.
https://www.realestate.com.au/sold/property-house-vic-kew-149429008