Melbourne’s property market is definitely hotting up with a high 89% clearance rate from 460 auctions. The clearance rate has improved by 9% on last years 80% which was for a larger volume of 636 auctions. Read Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
One of the strongest competitive auctions on the weekend was at 17 Shearwater Crescent, Maribyrnong where a tenant paid $1,650,000 to buy a family home. Four bidders, all families in the area, pushed the price $190,000 over the reserve.
https://www.realestate.com.au/sold/property-house-vic-maribyrnong-148431640
Family homes continue to see strong results as seen with a 4 bedroom family home on a large 1271sq metre block in 62 Brunel Street, Aberfeldie. The property will be demolished but still sold for $3,300,000 after it was quoted $3,100,000 plus.
https://www.realestate.com.au/sold/property-house-vic-aberfeldie-148353772
First home buyers continue to dominate the entry level end of the market as seen with two of them fighting it out for a 2 bedroom apartment 6/8 Falshaws Lane, North Melbourne. The property was quoted at $850,000 plus and the two bidders pushed a pretty competitive auction to $1,060,000.
https://www.realestate.com.au/sold/property-apartment-vic-north+melbourne-148427184