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Postcode 3193 Market Report March 2014

Posted on: March 21 2014

As we shift into a new year after the Summer break, the property market clearance rate is the highest it’s been for years, but don’t get too excited yet, as it’s not a Boom.  Looking through all the hype, yes the results are great, but they are not consistent in all areas, and at times buyers are finding it  difficult to understand why some properties actually do better than others.

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Here at our Property Matchmaker’s offices we started our return from leave at the end of January off with a bang, selling 3 properties within 10 days.  One of the those happy vendors pictured above snapped up a gorgeous Knight built home in Bentleigh for our first auction of the year on the 8th February.

With two Super Saturdays signaled for February & March, how did we do in Postcode 3193.

February 22, we had 12 auctions, 6 Sold & 6 Passed In

March 1st, we had 14 auctions, 12 Sold & 2 Passed In

March 8th, there were no auctions due to Labour Day holiday weekend.

March 14th, we had 17 auctions, 9 Sold & 8 Passed In

As you can see, March 1st was a fantastic result for the area, the best we have had in years.  Sales ranged from a 2 bedroom unit selling for $600K in Fourth St to a large allotment selling for $2.15M in St Andrews Court Black Rock.

Year to Date our suburb clearance rate is; Black Rock 77% & Beaumaris 75%, which is a great result, considering previous years have been between 40-50%.  Our Median price for the December quarter in Beaumaris is at $1,070,000.

Overall townhouses are still struggling, 38 Anita Street auction was cancelled, and the only sales not moving from auctions immediately are townhouses.  Family houses are selling the best, especially those with lots of bedrooms, with plenty of accommodation on large allotments.

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