The latest happenings in the Melbourne property market. For our Essays and The Secret Agent Report, see our Research page.

Market Wrap | 22nd August

436 reported (up from 409 at the time of video) auctions from the weekend yielded a clearance rate of 60% with 73 auctions resultless.

512 private sales were reported for from the week.

Even ‘The Block’,  the over hyped (excuse my dig here) TV show wasn’t spared from market conditions. This is a good example for prospective vendors,  you can expose a property to the entire country,  yet everything needs to be priced well to sell in this market.

A quick fix often doesn’t result in quality.

The top sale from the weekend was 9 Salisbury Street Balwyn,  a competitive auction was a sale price of $6,620,000.  With almost 4000 sqm of land,  it was bound to attract the big money.

Moving into the inner city we witnessed 21 Little Elgin Street ($1.290m) a well fitted out townhouse close to all the action of Lygon Street while 434 Napier Street Fitzroy ($835,500) had plenty of competition at the more entry point level for Fitzroy.

A higher level of auctions for this coming weekend.  615 in total.  For the video market wrap,  just visit here.

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