Higher interest rates and a wind back in government stimulus is not enough to dampen the spirits of Melbourne property buyers.
According to RP Data’s latest auction clearance results, Victoria’s capital city managed to clear 81.6 per cent of the stock put up for sale over the weekend.
More than 780 properties were put up for sale over the weekend, the great majority of which cleared on the Saturday.
Last year, Melbourne proved to be the most resilient capital city, with property prices surging despite three consecutive interest rate rises.
A six bedroom house in Toorak was the most expensive property sold over the weekend, achieving a cool $7 million price tag under the hammer. The cheapest property sold in the capital city was a one bedroom unit in North Melbourne, which collected $204,750.
