Blog & Market Updates

Market Update - 24th July

A clearance rate of 76 per cent was recorded this week compared to 77 per cent last week and  72 percent this week last year. There were 617 auctions reported to the REIV, with 471 selling and 146 being passed in, 67 of those on a vendor bid. Preston is the inner city’s top performing auction suburb this year, with the highest number of auction volumes (203) and sales (155) within 10km of the CBD.


One of the top house sales of the weekend was 1120 Burke Road, Balwyn North; which sold for $2,338,000 !

Regarding apartment sales, one of the best performers was 302/62 Beach Street, Port Melbourne; selling at $1,700,000.

As for the weekends budget sales; two worth noting are 8 Hodges Court, Breakwater (house selling for $311,000); and 1/36 Lillimur Road, Ormond (apartment selling for $285,000)

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