And that's a wrap...

Summary

This year - Auctions: 1264 / Clearance rate: 80%
Last year - 
Auctions: 1543 / Clearance rate: 67%
Source: REIV

Well, that's a wrap. The Melbourne real estate market is now winding down for another year so we're taking a brief hiatus over the summer break.

But don't worry, we'll be back again in February with all the latest in Melbourne real estate, together with the usual tips and tricks to maximise your outcomes when dealing with property.

Until then, enjoy our final Wrap and, from the team at WBP, have a safe and enjoyable festive season and summer.

This week's auctions

Each week WBP’s property advisers review hundreds of properties and attend auctions throughout Melbourne,
ranking each property on a scale of 1 to 10 based on its investment potential. This week their focus is on...

 161212 40Myrtle

161212 16.1 Spenser

161212 Domain Rd

Investment rating:

7.5 / 10

Investment
rating:

8.5 / 10

Investment rating:

4.0 / 10

40 Myrtle St., Clifton Hill

16/1 Spenser St, St Kilda

2/276A Domain Rd, South Yarra

Bed 2    Bathroom 1   Parking -

Bed 2   Bathroom 1    Parking  1

Bed 2 Bathroom 1   Parking 1

Suburb median unit price (REIV)

$1,270,000

Suburb 
median unit price (REIV)

$459,500

Suburb
median house
price (REIV)

$537,500

SOLD: $1,290,000

SOLD: $565,000

SOLD: $615,000

Boom-style Victorian houses are popular, particularly fully-detached varieties on wider blocks. The location in Clifton Hill is great - within walking distance of Queens Parade shops, Clifton Hill Train Station, Darling Gardens, Yarra Bend Park and the Eastern Freeway. Myrtle St is an attractive street of Victorian cottages. The house has a modern renovation, however, the floor plan would benefit from a central bathroom.

 

This entry-level two-bedroom apartment represents great value at this sale price in this popular location. The first-home buyer stamp duty reduction only applies on properties up to $600,000, therefore this category is very popular and becoming more competitive to purchase. While the apartment is not large internally, it has many features purchasers seek, including a balcony overlooking the Peanut Farm reserve, a modern renovation, internal laundry facilities and garage parking for one car. The property is a short stroll to the beach, Acland St, parks and public transport.

This apartment has an impressive renovation but the underlying floor plan is not ideal. The only access to the courtyard is through the very small second bedroom. The courtyard is quite exposed to Domain Rd and the apartment living room windows are on the walkway giving rise to privacy issues. The location on Domain Hill is excellent due to its proximity to the Royal Botanic Gardens, Fawkner Park, Chapel Street and ample public transport, however, the location within the apartment block is not preferable.

Speak with a WBP Property Adviser about how we save you time and improve your chances of buying a property with the right fundamentals for growth. To find out more click here or contact us on 1300 302 581.



Disclaimer: © 2016 WBP Property Group (WBP). The WBP Market Wrap has been produced as a general guide and does not constitute advice. While it was produced in good faith and with due care, no representation is made for the accuracy of the whole or part of the document. WBP accepts no liability for damages suffered by any party resulting from their use of information in this presentation.


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