Melbourne’s property market continues to be one of the strongest performing markets across Australia with a 85% clearance rate from 669 auctions. This is a marked improvement from last year’s 79% clearance rate from a larger volume of 714 auctions.
Read Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
One of the strongest auction results was the sale of 24 Murphy Street, Richmond which sold for over $3,000,000 dollars. There were four bidders that pushed the price well above the $2,700,000 plus quote range. The 4 bedroom, 2 bathroom renovated home was sold on 489sq metres. The owner purchased it for $1,850,000 in 2019.
https://www.realestate.com.au/sold/property-house-vic-richmond-148639904
Turnkey ready to move into properties continue to be in strong demand like 46 Market Street, Essendon. The modern home sold for $3,040,000 on 503sq metres of land after it was quoted at $2,500,000 plus.
https://www.realestate.com.au/sold/property-house-vic-essendon-148115252
Even busy roads are not deterring buyers from paying premium prices as seen at 224 Glenlyon Road, Brunswick East. The house on a corner block of 709sq metres of land on a main road sold for $2,605,000, well above the $2,500,000 plus quote.
https://www.realestate.com.au/sold/property-house-vic-brunswick+east-148596084
School zones continue to attract families paying premium prices for ready to move into properties. A house at 70 Knights Drive, Glen Waverley sold for $3,000,000 and the 5 bedroom, 3 bathroom property was on 654sq metres of land.
https://www.realestate.com.au/sold/property-house-vic-glen+waverley-148610296