Melbourne’s property market had a strong 84% clearance rate from 401 auctions on the weekend. This is a marked improvement from the same weekend last year where the clearance rate was 77% from a larger volume of 829 auctions. See all Melbourne’s Auction results below.
https://reiv.com.au/market-insights/auction-results
One of the strongest results was for a 2 bedroom house at 90 Scotchmer St, Fitzroy North which sold for $1,751,000. Five bidders pushed the price $251,000 above reserve in a strong competitive auction.
https://www.realestate.com.au/sold/property-house-vic-fitzroy+north-147681544
Another strong auction result was seen at 3 Radiata St, Frankston North which attracted 6 bidders. The property sold for $701, 200 to a Melbourne investor at $171,200 above reserve with 6 bidders fighting it out including Sydney buyers that missed out.
Large apartments continue to attract first home buyers who can’t afford to get into buying a house. A 2 bedroom unit at 307/1 Palmer St, Richmond sold for $1,010,000 to an owner occupier in a two way bidding contest with two young buyers fighting it out.
There continues to be strong interest in family homes in Melbourne’s western suburbs . A house at 41 Charmaine Ave, Avondale Heights sold for $1,117,000, with strong competition pushing the price well above expectations and $167,000 over reserve.
https://www.realestate.com.au/sold/property-house-vic-avondale+heights-147661340
