Melbourne’s property market took a breather with only 108 auctions on the Anzac Day Saturday weekend and a clearance rate of 79%. There was a similar volume of auctions last year with 231 auctions and a 83% clearance rate. Read Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
There continues to be more opportunities for buyers in the current market as seen with 6 Dyson Street, West Footscray. The house only had one bidder and they were in a good position to negotiate and purchased the property for $1,175,000, $50,000 below the reserve price.
https://www.realestate.com.au/sold/property-house-vic-west+footscray-150745872
Townhouses continue to be popular with young couples that might not be able to afford the next level up which is a house on its own land. A townhouse at 7/223 Murrumbeena Rd, Murrumbeena had two young couples fighting it out and it sold for $925,0000 and was quoted at $880,000 plus.
https://www.realestate.com.au/sold/property-townhouse-vic-murrumbeena-150762728
Investors are slowing making their way back into Melbourne’s marketplace despite the higher taxes as seen when an investor purchased 148 Lorne St, Fawkner. The house on a good size 727sq metre block sold for $866,000 with 5 bidders pushing it well above the $780,000 plus quote and all the other four bidders were young first home buyers.
https://www.realestate.com.au/sold/property-house-vic-fawkner-150727948