We are excited and humbled after being nominated again as finalists for the REIV Buyers Agent of the Year Award which we have been proud to win on multiple occasions over the last 26 years. We congratulate all the other finalists and wanted to thank our clients and business partners as they are the important people and reasons behind our success.
Melbourne’s property market continues with less properties available and a small volume of only 356 auctions this weekend and a consistent 73% clearance rate. The market had a much higher volume last year with 817 auctions for the same weekend and a higher clearance rate of 83%. Read Melbourne’s auction results below:
https://reiv.com.au/market-insights/auction-results
The entry level end of the market continues to see some strong results as seen with 7 bidders bidding for an original condition Bundoora house. Even though the house was on a major road, the property sold for $755,000, $95,0000 above the reserve and there were a number of investors bidding which hasn’t been as common in recent times.
https://www.realestate.com.au/sold/property-house-vic-bundoora-151967128
One of Melbourne’s strongest auction results was the sale of 11 Smiths Road, Templestowe where the single level property which was in well presented condition sold for $2,170,000. The 4 bedroom 2 bathroom house was on 933sq metres and the owners purchased it for $680,000 back in 2002.
https://www.realestate.com.au/sold/property-house-vic-templestowe-152029244
Period style renovated homes continue to be in strong demand in Melbourne’s inner to middle northwest suburbs as seen with sale of 20 Washington Street, Essendon. The 3 bedroom 2 bathroom home on 659sq metres sold for $1,842,000, netting a nice windfall for the owners who paid only $55,000 back in 1982.
https://www.realestate.com.au/sold/property-house-vic-essendon-152000204