Melbourne’s property market had a larger volume of over 1000 scheduled auctions after the Grand Final weekend and 625 auctions were recorded with a strong 78% clearance rate. This was similar to the same time last year where there were 942 auctions with a clearance rate of 84%. Read all Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
One of the strongest auction results was for a renovated Victorian home in the prized Richmond Hill location. The three bedroom house at 1 Brougham St in Richmond sold for $3,250,000. This was well above the $2,600,000 plus quote range and delivered the owners a handy profit as they purchased it for $605,000 in 2000.
https://www.realestate.com.au/sold/property-house-vic-richmond-145976200
Another solid result from the weekend auctions was the sale of 3 Prince Edward Avenue in McKinnon. The five bedroom, two bathroom family home on 717m2 sold for $2,260,000 and was popular with prospective buyers due to it being located in the popular McKinnon High School catchment zone.
https://www.realestate.com.au/sold/property-house-vic-mckinnon-146003940
