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

Market Wrap + Clearances

377 Auctions took place over the weekend producing a reported clearance rate of 56%.

About 39 auctions went unreported over the weekend.

The return of the private sale noted 425 sales taking place.   In strong times we could expect that many of these would be auction listings rather than private.

Clearance rates are stabilising not necessary due to a market that is holding,  but thanks to owners willingness to meet the market.

Better value at the entry point and higher end was observed.

26B/8 Trenerry Crescent Abbotsford ($455,000) and 65/50 King William Street Fitzroy ($437,000) were examples of the entry point better buys while 319 Richardson Street Princes Hill (Passed in at $1M Reserve $1.125M) and 28 Charles Street East Melbourne ($1.020M) were good examples of $1Million+ buying.

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