Weekly Market Update

The number of properties auctioned last weekend across Melbourne established a new industry record for the month of June. Despite the increase in supply, the strong demand that has characterised Melbourne’s property market this year, ensured that success rates remained at high levels. There will be a break in auction activity next weekend for the Queen’s Birthday long weekend with a return to good auction numbers the following weekend. Among the highlights from the weekend’s auctions was the sale of a stunning Edwardian residence at 200 Canterbury Rd, St Kilda West that sold at auction for a price of $2,615,000 after competitive bidding from 6 potential buyers took the price $335,000 above the reserve.

Nicholas Hoo - 0435 728 272