The Melbourne property market had a slower couple of weekends with the Easter long weekend and Anzac Day. There was only 170 auctions with an 82% clearance rate on this weekend. This was well below the volume of 696 auctions and 79% clearance rate for the same time last year. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
One of the stand out auction results was the sale of 5 Isabelle Court in Mill Park which sold for $1,740.000. The modern home was quoted at $1,550,000 plus and was on 854m2 with four bedroom, two bathroom accommodation. The owners netted a very nice profit as they purchased the property back in 1996 for $85,000.
https://www.realestate.com.au/sold/property-house-vic-mill+park-147507040
Period style properties continue to be in strong demand in Melbourne’s inner northern suburbs. A house at 150 Banksia St in Ivanhoe sold for $1,634,000. The four bedroom, two bathroom Californian Bungalow on 669m2 was quoted at $1,500,000 plus and sold for the first time in many years.
https://www.realestate.com.au/sold/property-house-vic-ivanhoe-147679764
First homebuyers continue to dominate the entry level end of the market in the outer northern suburbs. A house in Craigieburn smashed it’s $500,000 reserve and sold for $677,000 with six bidders, mainly first home buyers. It was last sold for $65,000 in 1983 netting the owners a nice profit.
https://www.realestate.com.au/sold/property-house-vic-craigieburn-147642832
