21st August 2017: Auction Snapshot: Saturday 19 August

What's happening in the market…

On Saturday, Melbourne achieved its highest auction clearance rate since the 10th of June, which resulted in a median sale price of $882,150.

Although first home buyer activity was expected to go up due to recent legislative changes, the Domain Group stated that, "First home buyer activity in Victoria remains relatively low reflecting recent strong price growth in the Melbourne housing market. Latest data from the ABS reported that 1528 first home buyer loans were approved over June in Victoria, a fall of 2.6 per cent compared to the previous month."

Saturday 19 August
Number of auctions in Victoria: 821
Clearance rate: 78.3%

The same weekend last year
Number of auctions in Victoria: 657
Clearance rate: 77.7%

Auction highlights…

40 Reading Avenue, Balwyn North

A brilliant location in the prime position of the Balwyn High School zone, this classic home has an exciting future, sitting on a 923 sq m approx. block. The residence provides the ideal opportunity for a new residence (STCA), with Greythorn Primary School at the end of the street and Greythorn Park just around the corner. Congratulations to the lucky buyer – winning it out over five other bidders!

Number of bidders: 6
Sale price: $2,321,000

24 Toogoods Rise, Box Hill North

This neat brick veneer home with original living and dining areas has been substantially extended, and now boasts a generous space suited for a growing family. This low maintenance home extends out to a rear patio with space for alfresco dining and entertaining, northern views and a secure play space. The new home owners can enjoy an easy walk to shops, transport and schools.

Number of bidders: 3
Sale price: $1,186,000

15 Highbury Street, Balwyn North

A warm and inviting home offering multiple solutions for contemporary family living, this traditional English style red brick home, circa 1938, radiates character throughout. The home is set privately on an elevated block in the Balwyn High School Zone, with schools, shops and cafes located a short walk away. Another popular home on auction day that achieved a fantastic result!

Number of bidders: 6
Sale price: $2,400,000

53 Park Road, Surrey Hills

A gardener's paradise within a beautiful leafy locale near Wattle Park, village cafes and the No. 70 tram, this much-adored 1950 home is on a deep 1,004 sq m approx. block that could even be the setting for a new residence or townhouses (STCA). The residence also features a self-contained unit at the rear with a private entry, offering the benefit of a dual rental income. Congratulations to the vendors and buyer!

Number of bidders: 3
Sale price: $2,567,500