Melbourne’s property market continued its consistent performance at a 75% clearance rate from 345 auctions. The market has less activity than last year where there were 551 auctions for the same weekend and a stronger 91% clearance rate. Read Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
One of the strongest sales was for 14-16 Minter Court, Park Orchards where the 5 bedroom house on 10 hectares sold for $2,306,000. This was well above the $1.8 million plus price quote and the owners netted a nice windfall as they bought it for $220,000 in 1992.
https://www.realestate.com.au/sold/property-house-vic-park+orchards-150318068
Inner northern suburbs like Northcote are still seeing strong demand as 38 Salisbury Grove, Northcote sold for $1.8 million. The 4 bedroom 1 bathroom house on a small 400sq metre block was quoted at $1.6 million plus.
https://www.realestate.com.au/property-house-vic-northcote-151545388
There continues to still be some runaway results which can surprise vendors and buyers. A house at 9 Tusmore Rise, Craigieburn had 7 bidders push the price well above the $700,000 plus price range to sell for $810,000. An upsizing family was successful with their bidding against 6 other bidders.
https://www.realestate.com.au/sold/property-house-vic-craigieburn-151601292