This weekend a clearance rate of 77 per cent was achieved from 990 auctions reported. There were 760 selling and 230 being passed in, 93 of those on a vendor bid. In addition to the auctions, there were also 297 private sales reported.
Higher listing numbers may have contributed to a lower clearance rate this weekend, as it was Melbourne’s lowest since the Spring auction season began.
The north and west areas of Melbourne were once again the top performers in the weekend auction results, with clearance rates of 86.4 per cent and 82.3 per cent respectively.
We look forward to seeing how the Spring market will fare next weekend.
30 Tennyson Street, Highett. Sold for $890,000.
Screened by established gardens on a prominent corner allotment, this pretty double-fronted two bedroom cottage on a 421sq metres sold for the first time in 45 years. After an opening bid of $800,000, three bidders pushed the price up. It was a young couple with plans to renovate that won the keys for $890,000.
12 Marin Lane, Maribyrnong. Sold for $847,000.
This 818 square metre property was the choice for developers. Six developers competed to become the new owners of this Maidstone property located in this ever appreciating pocket of Maidstone close to all local amenities such as Highpoint Shopping Centre, Central West Plaza and public transport.So it was a developer who won the auction with a $1.351 million bid, and they hope to put townhouses on the site.
17 Fairlie Avenue, Macleod. Sold for $925,000.
This three bedroom weatherboard home last sold for $104,000 29 years ago, and this weekend five bidders helped push the price well past the resrve of $810,000. The opening bid of $750,000 set the tone for a heated auction for the home set on a block of 769sq metres. But it was a family who outbid all rivals on the day with their final bid of $925,000.