The Melbourne property market had a breather with a small volume of only 231 auctions due to the Kings birthday long weekend and had a lower 67% clearance rate. There’s been a change in the market since last year where the clearance rate was 87% from a larger volume of 307 auctions. Read Melbourne’s auction results below.
https://reiv.com.au/market-insights/auction-results
Villa units continue to be popular with a number of demographics as seen with 3/43 Arndt Road, Pascoe Vale which sold for $602,000. 4 bidders pushed the price well above the $500,000 plus quote.
https://www.realestate.com.au/sold/property-villa-vic-pascoe+vale-151126472
Townhouses continue to popular with buyers for lockup and leave properties and they’re more affordable price points than houses. A 3 bedroom modern three storey terrace at 54 MacArthur Place North, Carlton sold for $125,000 over reserve, with the price selling for $2,225,000 well above the $1.85 million plus price quote with 2 bidders competing at auction.
https://www.realestate.com.au/sold/property-house-vic-carlton-151167404
There are more negotiations after auction in the current market as seen with a 2 bedroom house at 241 George Street, Fitzroy. The property sold for $1,225,000 after it was passed in to the highest bidder.
https://www.realestate.com.au/sold/property-house-vic-fitzroy-151186868