Melbourne’s property market took a breather with the long weekend due to Melbourne Cup Day with only 276 auctions and a strong 86% clearance rate. This was an improvement on last year’s 82% from 325 auctions. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
The strongest auction sale for the long weekend was 24 Chapman Boulevard, Glen Waverley where a brand new 5 bedroom 5 bathroom house on 680sq metres sold for $3,701,000. It was in a number of popular school zones attracting young families.
https://www.realestate.com.au/sold/property-house-vic-glen+waverley-149238012
There continues to be some strong runaway results as e seen with the sale of a run down house at 21 Gertrude Street, Windsor on 500sq metres of land. There were 3 bidders including a local family that pushed the price well above the $2,100,000 reserve to $2,420,000. The owners netted a nice capital gain as they purchased for only $52,500 back in 1977.
https://www.realestate.com.au/sold/property-house-vic-windsor-149257344
The first home buyer entry level end of the market continues to be rock solid and there were 3 bidders bidding for a modern home at 12 Plugges Street, Mernda. Mainly first home buyers pushed the price to $738,500 for another strong result at the entry level end of the market.
https://www.realestate.com.au/sold/property-house-vic-mernda-149264044