Even though we've had a two year glut; many of you would have noticed by now that Melbourne's clearance rates have been holding firm above 70% (50%-60% in 2012) for several months now, we haven't really seen a lot of run away results at auction... until now.
On Saturday, I saw three auctions within the inner suburbs and it is clear that Melbourne is on the move.
E.g.
Beach Ave - Most recent comp (in better condition) was $580,000.
http://www.realestate.com.au/property-apartment-vic-elwood-114617475
SOLD - $615,000
Adams Street - Expected sale price $500-$550 with a chance to go higher.
http://www.realestate.com.au/property-apartment-vic-south+yarra-114627511
SOLD - $687,500
Park Street - Expected sale price low-mid 600's.
http://www.realestate.com.au/property-apartment-vic-st+kilda+west-114583467
SOLD $715,000
Once the AFL Grand Final has concluded the market will be in full swing and I dare say most inner areas will be seller's suburbs.
On Saturday, I saw three auctions within the inner suburbs and it is clear that Melbourne is on the move.
E.g.
Beach Ave - Most recent comp (in better condition) was $580,000.
http://www.realestate.com.au/property-apartment-vic-elwood-114617475
SOLD - $615,000
Adams Street - Expected sale price $500-$550 with a chance to go higher.
http://www.realestate.com.au/property-apartment-vic-south+yarra-114627511
SOLD - $687,500
Park Street - Expected sale price low-mid 600's.
http://www.realestate.com.au/property-apartment-vic-st+kilda+west-114583467
SOLD $715,000
Once the AFL Grand Final has concluded the market will be in full swing and I dare say most inner areas will be seller's suburbs.