The Melbourne property market continues going from strength to strength with the highest clearance rates I can remember for a number of years hitting 87% this weekend from 569 auctions. This is well up from the 78% from 666 auctions for the same weekend last year. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
We are definitely seeing much more momentum in Melbourne’s property markets and even some apartment sales are seeing strong results. Our vendors advocacy client sold two apartments in Collins street in the city for a total of nearly $2m, well up from the estimated prices that we would be expecting by over $500,000.
https://www.realestate.com.au/property/unit-601-260-little-collins-st-melbourne-vic-3000/
Demand continues to be strong from first home buyers for entry level units. Our vendor advocacy client sold for a 4/20 Lucerne Avenue, Mornington for $555,000 after we purchased it for $440,000 about a year ago.
https://www.realestate.com.au/sold/property-unit-vic-mornington-147849972
There continues to be strong demand in Melbourne’s middle suburbs for houses with some land value. We were able to purchase a family home for a repeat upsizing home buyer client in Henty Court, Mill Park for $1,035,000 without any auction competition.
https://www.realestate.com.au/property/2-henty-ct-mill-park-vic-3082/