Melbourne’s property market continues its solid performance with a 85% clearance rate from a small volume of 418 auctions as buyers continue to struggle with a low supply of properties to choose from. This is compared to last year which a much higher volume of 609 auctions and a lower clearance rate of 83%. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
The first home buyer end of the market continues to be the strongest segment as we’ve seen at a property at 10 Helene Street, Eltham which was quoted at $680,000 plus. Two brothers paid $145,000 over the reserve as first home buyers continue to be out numbering investors at the entry level end of the market.
https://www.realestate.com.au/sold/property-house-vic-eltham-148439264
Inner suburbs continue to attract young upsizing couples as seen again at 20 Noone Street, Clifton Hill where a 2 bedroom unrenovated house sold for $1,215,000. Five young couples battled hard and pushed the price $235,000 over the reserve expectations.
https://www.realestate.com.au/property-house-vic-clifton+hill-148448400
Single level villa units continue to be in strong demand even on main roads. A unit at 3/61 Blackburn Road, Blackburn sold for the strong price of $701,000 with a downsizer beating a first home buyer to the keys and many other first home buyers not getting a chance to bid.
https://www.realestate.com.au/sold/property-unit-vic-blackburn-148464308
One of the stellar results for the weekend was the sale of a double fronted 3 bedroom 2 bathroom Victoria on 922sq metres of land in Mayston Street, Hawthorn East. The property sold for 3,831,000, well above the $3,200,000 plus quote range in a sought after location.
https://www.realestate.com.au/sold/property-house-vic-hawthorn+east-148455536