Market opens with gusto.

Summary
This year - Auctions: 867 / Clearance rate: 79%
Last year - 
Auctions: 953 / Clearance rate: 75%
Source: REIV

Mid-February is considered the unofficial opening of the Melbourne real estate market – a time when the summer holidays are all but behind us and we’re making plans for the year ahead. And, as expected, the year has open with the same ferocity with which it closed in 2017. Property pundits in Melbourne sprang to action at the weekend with a whopping 867 auctions and an equally impressive 79% clearance rate.

While the weekend gave host to slightly fewer auctions than the same weekend last year, the month of February is scheduled to offer more than 3100 auctions to the market, according to REIV - representing an increase of three percent when compared with last year.

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...

 170220 21.3 Alfred Square st Kilda

170220 12 Barry Street Northcote

170220 4.9 Glenroy Road

Investment rating:

6.0 / 10

Investment
rating:

6.5 / 10

Investment rating:

8.0 / 10

21/3 Alfred Square, St Kilda

12 Barry St., Northcote

4/9 Glenroy Rd. Hawthorn East

Bed 2    Bathroom 1   Parking 1

Bed 2   Bathroom 1    Parking  1

Bed 2 Bathroom 1   Parking 1

Suburb median unit price (REIV)

$540,000

Suburb 
median unit price (REIV)

$1,317,500

Suburb
median house
price (REIV)

$594,375

SOLD: $705,000

SOLD: $958,500

SOLD: $818,000

Situated on the second floor of an eight level 1970s apartment complex, this larger than average two-bedroom apartment has a pleasant outlook and is close to Acland Street shopping precinct and the beach. Although well-located, being one of 32 units in the complex means this apartment lacks, in addition to having high owners corporation fees - both factors having negative implications for the property’s future marketability.

Located close to Northcote’s popular Westgarth retail precinct, this two-bedroom attached single-fronted Victorian terrace is an entry-level home. Although liveable in its current condition, the floorplan would benefit from centralising the bathroom and creating a kitchen/living area that flows onto the rear yard.

A tastefully renovated two-bedroom Art Deco apartment in a small block of eight, featuring a north easterly aspect, large living and dining area and decorative features throughout. The property is located on ‘Scotch Hill’ close to Glenferrie shopping precinct.

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: © 2017 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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