Market Update 3rd February 2025

Melbourne’s property market recommenced for the New Year with 543 auctions and an impressive 90% clearance rate.On the same weekend last year, there was a 81% clearance rate from a lower volume of 490 auction. Read Melbourne’s auction results below.

https://reiv.com.au/market-insights/auction-results

One of the strongest auction results of the weekend was at 22 Booker St in Cheltenham which had a reserve price of $1,425,000 and sold for $1,565,000. The four bedroom, two bathroom house had an opening vendor bid of $1,350,000 before being strongly contested with a number of strong bidders and a young family winning the keys.

https://www.realestate.com.au/property-house-vic-cheltenham-146880860?sourcePage=rea:p4ep:property-details&sourceElement=avm-currently-advertised-view-listing

Another solid auction result on the weekend was the sale of 26 Paula Cr in Doncaster East sold for $1,582,000. The three bedroom,one bathroom property on 725m2 of land sold well above the quoted price range of $1,200,000-$1,300,000.

https://www.realestate.com.au/sold/property-house-vic-doncaster+east-146923024

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