Auction Report Melbourne - Saturday the 3rd of July 2010

Monday, July 5, 2010 at 10:38am

There is a healthy pattern of sensibility that has emerged from buyers and reasonable clearances are still being achieved, which is good for the market overall.

There are much fewer instances where a situation of over zealous bidding is causing reserves to be smashed. The advertised ranges still seem below the owners expectations.

Results
Each week we rotate a selection of 4 Auction sales across Melbourne suburbs. Typically we like to sample something from the north, east, west and south.

I am only providing a snippet of what we are seeing happen in the market place as a buyer’s advocate of melbourne real estate. If you want to discuss anything in more detail please message me.

27 Station Street, Aspendale
Advertised $450,000 - $490,000
Sold $515,000
http://www.realestate.com.au/property-house-vic-aspendale-106597551

1 Mulgrave Way, Croydon North
Advertised $485,000 - $535,000
Sold $554,000
http://www.realestate.com.au/property-house-vic-croydon+north-106587962

49 Arthurton Road, Northcote
Advertised $740,000 - $790,000
Sold $827,000
http://www.realestate.com.au/property-house-vic-northcote-106601958

102/60 Speakman Street, Kensington
Advertised $290,000 - $310,000
Sold $332,000
http://www.realestate.com.au/property-apartment-vic-kensington-106649444

Additional Comment:
We have recently been watching the Brunswick market pretty closely and have noticed a number of very keen observers, the couples in new love, singles of late 20’s early 30’s with their parents and the mature aged investor. Their numbers can easily reach 50 at an Auction and yet as happened at Hanover Street in Brunswick last week not one bid. These people are genuinely interested in the market and a lot of them looked prime to buy soon. In my opinion a short term weakening of stock in the Brunswick market will cause a sharp increase in the clearance rates and see reserve prices repeatedly exceeded again.