Melbourne’s clearance rate at auction took a positive turn last week coming in at 67.4% against 62.8% the previous week, according to Dr Andrew Wilson (Chief Economist at My Housing Market). It also showed that auction numbers are coming back to more “normalised” levels after many months where stock levels were up nearly 50% on same time last year figures.

Some auction crowds were unexpectedly strong as Melbourne buyers battled near freezing temperatures and Arctic winds. Our 10am auction kicked off the day with a bang! It was a small, character home on a subdivided block. It sold to a young couple, starting out their property journey, who were super excited to clinch their first home. It took the lure of a bottle of sparkling for an opening bid but from there, the bidding was frenetic with two buyers competing so hard and fast that other would be contenders were left out of the race. It sold for $950,000 which left our owners happy and the young buyers, equally thrilled to be out of the market and into their first home.

It was a clear reminder that real estate is very much a people business. So much emotion and anticipation from the buyer before it was finally knocked down. And the seller – really happy to have nearly doubled their money since buying the property back in 2010.

If you’d like some help in clinching your own sale in the lead up to spring, then the team at Barry Plant would love to help. It’s what we do!!

See below our impressive sales activity for the week:

42 Bartram Rise, Viewbank sold for $1,100,000.
1/258 Wonga Road, Warranwood sold for $980,000.
208 Lower Plenty Road, Rosanna sold for $950,000
22/1 Bellevue Avenue, Doncaster East sold for $605,000.
218/1 Grosvenor Street, Doncaster sold for $475,000.
1 Montgomery Place, Bulleen sold!
19 Grantham Road, Viewbank sold!
20 Braeside Drive, Doncaster sold!
12 Ellin Street, Doncaster East sold!
54 Harold Street, Bulleen sold!
4/53 Bannockburn Road, Viewbank sold!
22 Madison Boulevard, Mitcham sold!
4/1 Ware Crescent, Ringwood East sold!
1/14 Marian Court, Eltham North sold!
25 Daisy Hill Road, Doreen sold!
6/101 Martins Lane, Viewbank sold!

Currently under offer and will be sold soon:

6005/2 Sovereign Point Court, Doncaster
13 Lae Street, Heidelberg West
24 Tobruk Avenue, Heidelberg West
3/36 Shelley Street, Heidelberg Heights
4/36 Shelley Street, Heidelberg Heights
107/23 Carawatha Road, Doncaster
102/1042 Doncaster Road, Doncaster East
47/2 Gordon Street, Elsternwick
1/6-8 Wetherby Road, Doncaster
106/164 Manningham Road, Bulleen
3/11 June Crescent, Templestowe
201/373-377 Burwood Highway, Burwood
G07/373-377 Burwood Highway, Burwood
2/112 Springfield Road, Blackburn

Spiro Drossos

Managing Director

Barry Plant Eastern Group

GREEN SHOOTS EMERGING ON MELBOURNE PROPERTY MARKET