Melbourne’s property market continued its strong performance with a 83% clearance rate from 678 auctions. This is an improvement from last year’s 78% from 808 auctions from the same weekend. Read Melbourne auction results below:
https://reiv.com.au/market-insights/auction-results
There continues to be strong results at the entry level end of the market especially now with the new first home buyer deposit scheme coming to affect. A first home buyer won the keys to 4/16 Albert Street, Oak Park in a competitive auction which sold for $861,000 after an opening bid of $750,000.
https://www.realestate.com.au/sold/property-unit-vic-oak+park-148973260
Single level villa units continue to be in strong demand across Melbourne’s middle suburbs as seen with the auction of 12/105 Park Road, Cheltenham. 4 bidders pushed the price from the $600,000 plus quote range to a winning bid of $700,000. The young couple made the winning bid with 3 first home buyers all battling for the keys.
https://www.realestate.com.au/property-unit-vic-cheltenham-148958696
Family homes continue to be in short supply and high demand as seen with a house for sale at 21 Railway Road, Carnegie which was quoted at $1m plus. A downsizer outbid a young family and an investor for the keys paying $1,235,000 for a house that needed a lot of renovation.
https://www.realestate.com.au/sold/property-house-vic-carnegie-149005616