Melbourne property market continued its consistent run with a 73% clearance rate from 284 auctions. This is again more of a buyers market then last year where the clearance rate was 85% from a larger volume of 528 auctions. Read all Melbourne’s auction results below:
https://reiv.com.au/market-insights/auction-results
Modern properties ready to move into continue to be in strong demand as seen with 128 Lennox Street, Richmond. The 1903 Victorian Terrace which has been renovated sold for $2,370,0000, well above the $2.1 million plus quote range on 416sq metres.
https://www.realestate.com.au/sold/property-house-vic-richmond-151721628
Family homes continue to be the star performers in Melbourne’s property market. A 4 bedroom updated house at 8 Queen St, Ormond sold for $2,352,500 with 4 bidders pushing for the keys for the renovated property.
https://www.realestate.com.au/sold/property-house-vic-ormond-151757448
Location is always the biggest key ingredient for a property’s performance. A 2 bedroom apartment in a tightly held area at 9/21 Powlett St, East Melbourne sold for $868,000. 3 bidders pushed it $68,000 over the reserve and well above the $750,000 plus quote with a first home buyer winning the keys.
https://www.realestate.com.au/sold/property-apartment-vic-east+melbourne-151714900