The weekend auctions in Melbourne resulted in a 73 percent clearance rate compared to last weekend’s 74 percent. A total of 1,233 properties were listed, 957 were reported and 710 were sold. The median price noted was $780,000.
For the entire state of Victoria, a 74 percent clearance rate was recorded compared to the previous week’s 72 percent. There were a total of 1,390 auctions reported to the Real Estate Institute of Victoria (REIV) with 795 selling and 300 being passed in. Of the number passed in, 125 were on a vendor bid.
A total of 136 properties were sold prior to auction, 729 sold during auctions and 13 sold after auction.
There were 370 private sales in total, 331 total auction for flats and apartments and 14 for vacant land. The median price recorded for flats and apartments was $635,000 and $815,000 for vacant land.
In recent months, suburbs in the bayside area have experienced strong competition. On top of the list for price growth in the September quarter werer the suburbs of Brighton, Seaford and Dromana.
6/11-13 Jessie Street Oak Park
Auctioneer was John Morello from Jellis Craig Kensington. The auction was witnessed by a crowd of 50 with 4 bidders. The quote was $460,000 plus. The property was on the market at $515,000 and it sold for $535,000.
Looking to buy in Melbourne and sick of missing out at auction? Talk to me about how I can help you buy your new home faster, for less.
Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?
By Wendy Chamberlain
Copyright 2015 | All Rights Reserved
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With a passion for all things real estate spanning 18 years, Wendy loves that her role as a
