With the end of the school holidays, everything appears to be back in full swing and auctions already booked in for December, it will be Christmas before we know it!
A clearance rate of 73 per cent was recorded this weekend compared to 69 per cent last weekend and 68 per cent this weekend last year from the 487 auctions reported to the REIV.
Highlights from the weekend include the auction sale of 33A ALbert Street, Highett by Josh Hommelhoff and Matt Hurlston. Built by prominent Bayside builder and former St Kilda football great, Stewart Loewe, it sold under the hammer with 3 under bidders, who then bought number 33 next door straight after, each selling for an undisclosed amount in the vicinity of $1 million each.
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Melbourne’s rental market remains one of the most competitive and priciest in Australia, even as overall growth rates have softened in recent months. While some data shows quarterly changes easing or stabilising, rental levels are still significantly elevated compared to pre-pandemic norms — and many of the forces that drove … Read more