Melbourne House Prices Through The Roof

Home buyer pays $4.68 million for triple-A address at their first auction
November 22, 2014   Christina Zhou, Alice Stolz and Alistair Walsh

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It took buyer Wei Hu just six weeks to find and buy a property for his family. See what happened on auctions around Melbourne on a day where the clearance rate hit 67 per cent.

A buyer who has been in the market for just six weeks won the keys to a grand Federation home in Camberwell’s triple-A Tara Estate for $4.68 million at auction.
The four-bedroom house on about 1118-square-metres, with a self-cleaning heated pool was one of more than 1120 homes that went under the hammer at the weekend.

The Domain Group reported a preliminary clearance rate of 67 per cent from 881 auctions held in metropolitan Melbourne.
Despite signs that Melbourne’s property market is beginning to moderate as auction numbers climb before Christmas, three bidders vied for the property at 13 Kintore Street.


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