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Reading between the lines of the Sunday Age auction wrap-up blurb, it seems as though the market has now cooled. That's my interpretation anyway, although I haven't gone to an auction this year to see first hand.

For anyone interested, here are the REIV median prices for the December quarter by suburb.

David, Residex is saying 9% for the Dec quarter (2.4% for the month of Dec) :) Still a great result. At least that's my interpretation, I'd expect their newsletter to come out some time in the next day or 2 announcing the figures (but you heard them here on SS first... he he). Your unit would...

Thats a great result David, well done. I'm a bit surprised the appartment is using private sale rather than going to auction, you'd think the demand is there to get a bit of competion and a good price.

It seems the June quarter suburb by suburb values (from the REIV/Residex) are going to appear in this Saturdays Age, 28/7. Something to enjoy over your morning coffee and pancakes anyway :) Should be interesting because according to Residex, Melbourne as a whole barely moved in the June...

No that's not correct. If the result was put in too late then it wouldn't appear in the Sunday paper but would in Mondays. That happens a lot. "Undisclosed" means that the vendor (not the buyer) has requested that the price not be revealed in the papers.

Here's a couple of inner suburbs for contrast.

The statistics don't seem to back your claim of 25% pa for 2 years.

Reasonably strong Vic economy Strong immigration into the state Strong sharemarket Wages growth In other words I don't know :p I've got this theory that having held off a long time, Gen X are finally having kids and driving the OO demand up for traditional family homes in nice suburbs.

I looked at the reiv site and noticed that the Melbourne median price took a dip in the March quarter in each of the previous 5 years. The data only goes back that far so not sure if the trend goes back even further.

Interesting reading in Saturdays Age. Apparently Melbourne prices fell by 3.3% in the March quarter :confused: Despite the fall, suburbs within 10kms of the CBD are up 15% for the past year whilst those >10kms are up 5% for the year.

$508k maybe??? ($420k+ means a quoted range of $420k-$462k which means reserve must be $508.2k or less). If that's the case, and $420k+ was the actual final published quote and not just the one at the beginning, then that would not be underquoting. If it passed in for >$508.2k that would...

David, any idea what the vendors reserve was, any indication during the auction when it was "on the market"?

According to residex Melbourne cracked the $400k mark in the March quarter. When residex/reiv release their suburb by suburb stats in the next week or 2 it will be interesting to see how the inner burbs have performed, I suspect it will be well in excess of the overall quarterly figure of 3%. :)

Yes inner Melbourne is strong, it's not your imagination :) It's been strong since early 2006. Given the current economic conditions I can't see the trend changing anytime soon. As for underquoting - yeah it happens, but who cares, it takes just one weekend to figure out the % uplifts to apply...