Auction Clearance Rates Signal Bundoora Price Movements

Bundoora auction clearance rates reached 71 percent across the four weekends to July 6, up from 58 percent in the same period last year.

The rise matters because listings have increased 14 percent since the start of June while buyer registrations at open homes have grown only 6 percent, tightening the balance between supply and demand.

Street-Level Results

Three of four homes offered on Grimshaw Street cleared under the hammer, including a three-bedroom weatherboard at number 128 that sold for $865,000 after 12 bids. Two units near La Trobe University on Settlement Road also sold on the day, one for $612,000 and the other passing in before exchanging later at $595,000. Further west on Plenty Road, a vacant block zoned for dual occupancy drew five registered bidders and sold for $740,000.

Domain Group figures released on July 7 recorded a median auction price of $798,000 for Bundoora properties sold in the first week of July, $23,000 above the June median. The strongest gains appeared in four-bedroom family homes, which averaged $915,000 when they cleared.

Next Steps for Buyers and Sellers

Four auctions are already listed for the weekend of July 12 and 13, two of them on Main Street and one each on Greenwood Drive and Bundoora Park-adjacent Montalto Avenue. Agents advise vendors to set realistic reserves after the recent clearance lift, while buyers should prepare pre-approval letters and attend at least two prior inspections to gauge competition. Those tracking the market can register for price alerts through the Bundoora Real Estate Association portal ahead of the next scheduled clearance report on July 14.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.