Macleod among Melbourne's best performing winter auction suburbs
Macleod, 14 km north-east from Melbourne's Central Business District, has emerged as the strongest winter auction markets in the country.
There were 9868 auctions over winter in Melbourne, with an overall auction clearance rate of 71 per cent, according to Domain.
Domain economist Dr Andrew Wilson said hxpected clearance rates in Melbourne to remain above 70 per cent but said, overall, the market may not perform as well as last spring, when buyers were motivated by recent interest rate cuts.
The top five performing Melbourne suburbs over winter for houses
Suburb | No. of auctions | Clearance rate |
Macleod | 16 | 100% |
12 | 100% | |
8 | 100% | |
7 | 100% | |
7 | 100% |
He said the top end of the Melbourne market had been an underperformer over winter.
“It’s certainly not as strong as the budget market, particularly the inner east,” he said.
“There’s a real sense the [inner-east] market has topped out.”
A three bedroom house at 32 Chapman Street, Macleod (above) was sold during winter for $998,000.
Built in 1970 it last sold for $312,000 in 2002.
A four bedroom house at 4 Tucker Way, Macleod (below) was sold during winter for $831,000.
It last sold in 1999 for $247,000.
