Melbourne’s property market has started strongly in Spring with a 82% clearance rate from 677 auctions. This is a slightly better market then last year where it was 79% from around 751 auctions with a larger volume of properties on offer.
https://reiv.com.au/market-insights/auction-results
One of Melbourne’s strongest auction results was the sale of an unrenovated house at 12 Evans Road, Kew. The weatherboard home needing major renovation was quoted at $3,600,000 plus and sold for a whopping $4,845,000 well above the quote range.
https://www.realestate.com.au/sold/property-house-vic-kew-148736404
Our Buyer’s Advocates were buying houses in Ardeer only a few years ago for around $600,000 and who would have thought one would sell and break the million dollar barrier. A house at122 Mclaughlin Street, Ardeer sold for $1,002,000 with a Sydney investor purchasing the property which was quoted at $750,000 plus.
https://www.realestate.com.au/sold/property-house-vic-ardeer-148770700
We’re definitely seeing more runaway results as we’ve seen with the sale of a house with structural issues at 23 Merton Street, Albert Park. The property sold for $2,560,000, $480,000 above reserve with 4 buyers again being pipped by an interstate buyer, a Sydney investor.
https://www.realestate.com.au/sold/property-house-vic-albert+park-148727768
Turnkey modern properties continue to see strong results in Melbourne’s middle suburbs. A 5 bedroom 3 bathroom modern home at 18 Netherlee Street, Glen Iris sold for $4,560,000, well above the $4,000,000 plus price quote on 721sq metres of land.
https://www.realestate.com.au/sold/property-house-vic-glen+iris-148760256