Melbourne auctions clear 58.8 per cent as Bundoora home sells $95k above guide

Melbourne’s first spring auction weekend returned a 58.8 per cent clearance rate, with buyers competing fiercely for some homes while remaining highly selective on price. Melbourne sellers face a spring reality check, with buyers still competing hard but highly selective about what they are willing to pay. REA Group data show the first weekend of spring returned a 58.8 per cent clearance rate from 369 reported Melbourne auctions. Of those, 117 homes sold under the hammer and 97 changed hands before auction, while another three sold afterwards. RELATED: Former Demon’s $22m MCG penthouse link revealed Melb hotspots for $100k+ home price cuts revealed AFL finals property ladder’s $1.9m price gap At the top end, Templestowe recorded Melbourne’s biggest reported auction-day sale, with 11 Smiths Rd fetching $2.17m. A three-bedroom home at 275 Princes St, Port Melbourne, followed at $1.975m, while 7 Lille St, Surrey Hills, sold for $1.96m. But one of the clearest signs of buyer appetite came much further down the price ladder. 11 Smiths Rd, Templestowe, was Melbourne’s highest reported home sold under the hammer, fetching $2.17m. The home at 275 Princes St, Port Melbourne, sold under the ...