Market Update | 6 July 2020

Amidst the increasing COVID-19 infection rates in Victoria, auction clearance rates peaked at 72% over the weekend; a 6% increase on the previous week.
Of the 300 properties scheduled for auction, 157 sold on the day, with 58 selling prior. In the same week, 202 private sales also took place, bringing in a total auction and private sales volume of $333 million across the state.
With Melbourne holding its highest number of auctions in 9 weeks last weekend, the latest results demonstrate the resilience and fortitude of our property market, which continues to show improvements in buyer and seller confidence.
To support this, Fletchers reported a 107% increase in new listings over April and an 84% increase in May.
While auctions in COVID-19 hotspots have started to move online, Domain also reported that ‘areas outside of hotspots were also being converted to online sales where there were more than 20 people expected’.
In Fletchers news, we are thrilled to achieve an auction clearance rate of 83% over the weekend, with our team achieving some fantastic results across Balwyn North, Mitcham, Box Hill South, Balwyn and Ringwood North. Our highest sale for the weekend was 4 Surrey Street in Box Hill South, which sold for $1,150,000.
Results. It’s a Fletchers thing.
Categories: Auction Wrap

End of Financial Year 19/20

As another financial year has drawn to a close, it’s incredibly humbling to reflect on the past twelve months in which I personally sold 123 properties.
I am incredibly grateful to all of my clients who have entrusted my team and I with the sale of their homes, particularly in the last several months as we navigate through the Coronavirus pandemic.
I am also appreciative of and inspired by my personal team, who work so hard every day to help our clients achieve result after result over the past twelve months. I have found that this hard work and consistency over a long period of time has been the secret of our success…and we are like family!
In these volatile, COVID-19 times, I am finding the property market at the moment quite stable – certainly in the eastern suburbs of Melbourne where I transact. I hope that the new financial year will be a positive one for us all, and that we can all overcome the current challenges we face.
Categories: Real Estate Services

Auction | 2/12 Ovens Street, Box Hill North

Offered for the first time for sale in nine years, the well-designed two bedroom villa unit attracted three bidders on auction day!

Announced on the market at $800,000 with competitive bidding, the home went on to sell under the hammer for $830,000. Take a look at some of the highlights from the day!

Categories: Auctions

Market Update | 30 June 2020

As concerns grow over Melbourne’s COVID-19 outbreak, the Real Estate Institute of Victoria [REIV] has confirmed that the real estate sector will continue to do everything it can to ensure the transaction of property is provided in a safe and controlled manner.

Nonetheless, confidence in Melbourne’s property market continues to draw impressive results despite current restrictions. This weekend saw a total auction volume of $232 million and a total private sales volume of $132 million for Victoria.

REIV President, Leah Calnan, says the Victorian real estate market is vital to the state’s economy and continues to show incredible resilience during these unprecedented times.

‘The REIV’s Residential Market Index for Victoria increased by 1.8% to 125.6 over the past month, showing that despite the pandemic, the market is holding its ground. The REIV recorded an auction clearance rate of 74% for May, another indicator of the underlying strength of the market,’ Ms Calnan noted.

For those wondering how the rest of the year will play out for the property market, Domain Economist, Trent Wiltshire, says there are two likely scenarios; the first being modest price falls and the second; a gradual pick up in property sales.

‘The key factor supporting prices so far is that few people have been forced to sell their homes due to losing their jobs or having their incomes cut. This has been enabled by the government’s financial support packages assisting households whose income has fallen, in combination with banks allowing people in financial difficulties to defer mortgage repayments,’ he said.

In Fletchers news, my team and I were pleased to sell the feature-packed and perfectly placed 3-bedroom town residence on Saturday, located within a blue-ribbon locale at 2/310 Mont Albert Road in Surrey Hills. The classy and contemporary double-storey home sold after auction for $1,350,000.

Results. It’s a Fletchers thing.
#news #realestate #resultsitsafletchersthing

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Categories: Uncategorized

Market Wrap | 22 June 2020

MARKET UPDATE 🏘
 
Following several double-digit spikes in the number of confirmed cases of coronavirus, Premier Dan Andrews was forced to delay a further easing of restrictions over the weekend.
 
Auctions and open for inspections, which were set to allow up to 50 attendees on site from today, will now remain at a limit of 20 patrons, along with restaurants, pubs, cafes, gyms and cinemas. Outdoor gatherings will now be limited to 10 people, with visitors to your home limited to a maximum of 5 people, from today.
 
The Victorian Government has also extended the mandate for those who can work from home, to continue doing so until at least the end of July.
 
‘As we’ve seen across the world, this virus has the ability to turn a few cases into hundreds in a matter of days. That’s why we also need to delay an increase to gathering limits,’ Mr Andrews said.
 
With restrictions on auctions and open homes extended for another three weeks, AMP Chief Economist, Shane Oliver, says the real test of Melbourne’s property market would be in October, once the Spring market was in full swing.
 
Fortunately, low interest rates, mortgage deferments and the JobKeeper and JobSeeker benefits from the Federal government have helped keep the market buoyant, he said.
 
Our team was pleased to see a strong level of buyer activity over the weekend, with several auctions seeing as many as 5 or 6 bidders compete on the day
 
Results. It’s a Fletchers thing.
#news #realestate #resultsitsafletchersthing
Categories: Auction Wrap

Auction Wrap | 15 June

A further easing of COVID-19 restrictions is set to take place on 22nd June, which will allow up to 50 people to attend public auctions and open for inspections.
AMP Capital Chief Economist, Shane Oliver, said ‘the longer, slower pace of the easing of restrictions’ was ‘having an impact’ on the industry, with ‘Victoria’s economy [lagging] a little bit compared to NSW’.
Despite this, consumer confidence seems to be back on the rise, with the Melbourne Institute and Westpac Bank Index of consumer sentiment climbing for its second straight month in June by 6.3%.
Interestingly, the latest data from CoreLogic Australia has revealed a rise in new listings and property sales across Australia in May, with a 22.4% increase in new residential listings on the previous 28-day period.
Last month, Fletchers multi-award winning website recorded a 20% increase in buyer activity, with our agents also reporting a significant resurgence in attendance at auctions and open homes, whilst adhering to current restrictions. For the same period between April and May, Fletchers also reported a 17% increase in property transactions.
Coupled with record-low interest rates, significant increases in buyer search data and improved consumer sentiment, we expect Melbourne’s property market to continue to swing back into action for the remainder of the year.
In Fletchers news, 18 Liston Street in Glen Iris was among the 296 auctions which took place across the state over the weekend. Announced on the market at $1,475,000, the classic 1950’s weatherboard home saw 4 bidders compete on the day, selling under the hammer for a remarkable $1,900,000. Watch the live auction here: https://youtu.be/qgwcStA-VEk
Results. It’s a Fletchers thing.
Categories: Auction Wrap

Market Wrap | 9 June 2020

MARKET UPDATE 🏘
 
So far this month, the real estate industry has continued to take positive steps forward on the road to recovery amid the coronavirus pandemic, which has surpassed 7 million cases globally.
 
The Queen’s birthday long weekend saw several demonstrations for the Black Lives Matter movement take place in most major cities across the country. State governments and campaign organisers were left in heated debate around safety protocols and social distancing measures, sparking fears of a second coronavirus outbreak. The Commonwealth Deputy Chief Medical Officer, Nick Coatsworth, has urged people in attendance to self-isolate for the next 14 days and get tested if they have any symptoms.
 
Last week, the Federal government’s $688 million HomeBuilder package made headlines of its own, with critics questioning the government’s strategy to provide assistance to the construction sector.
 
‘It is possibly the most complex and least equitable program the government could have devised to deliver construction jobs. To be useful for jobs, it would need to deliver an extra 60,000 housing starts. Even if the full budget allocation is taken up, it would fund only about 25,000 projects. Many would have gone ahead anyway,’ wrote Geoff Hanmer, Domain. To be eligible, homeowners must be planning to undertake renovations worth between $150,000 and $750,000. Household incomes must also be lower than $120,000 for singles and $200,000 for couples.
 
In other news, the latest buyer data from the REA group has revealed significant increases in consumer confidence for the property market. In April, realestate.com.au hit a new record audience number, with 11.2 million people visiting their site. The surge in buyer activity has continued in May, where they received over 100 million visits to their web and mobile platforms.
All in all, buyer enquiries have jumped an astonishing 49% year-on-year. With buyer demand now at record levels, this presents vendors with a unique opportunity to advertise their properties and achieve a great sales result.
 
If you are considering selling or would like to arrange a confidential discussion, please don’t hesitate to get in touch.
 
Results. It’s a Fletchers thing.
#news #realestate #resultsitsafletchersthing
Categories: Auction Wrap

Market Wrap | 1 June 2020

We enjoyed the final burst of crisp, beautiful weather over the weekend as Autumn finally came to an end. The sunshine seemed to have a positive effect on many buyers, with the Domain Group reporting a preliminary clearance rate of 64.8 per cent from the 165 scheduled auctions (110 of which were reported).

AMP Capital chief economist, Shane Oliver, compared the current auction market to The Twilight Zone, saying it was hard to understand and predict what would come next. He also added, however, that those properties that sold at auction, sold very well. Whilst many potential vendors may be taking a ‘wait and see approach’, there are certainly several buyers searching for the right property, competing against a shortage of stock.

As of today, easing restrictions mean that numbers at open for inspections and auctions can increase to a maximum of 20 people, plus the agents required to facilitate proceedings.

I conducted my first on-site auction since the COVID-19 restrictions were lifted, at 17 David Street in Box Hill South. The property sold under the hammer, with a total of five bidders competing to secure the traditional three bedroom home.

Results. It’s a Fletchers thing.

Categories: Auction Wrap

Market Update | 26 May 2020

As restrictions ease across Victoria, up to 20 people will be allowed at on-site auctions and open for inspections from Monday 1stJune, with the spread of COVID-19 remaining low.
In an official statement from Premier, Daniel Andrews, ‘auctions and open for inspections will be subject to the 20 person limit, plus those required to conduct the activity, with agents also required to keep the contact details of everyone who attends.’

According to Domain, the Real Estate Institute of Victoria [REIV] has welcomed the news, with president Leah Calnan telling Domain it was a ‘very positive’ step forward for the industry.

The news comes as the Residential Property Price Index has revealed that Victoria’s property market has held its ground during the COVID-19 pandemic, showing that residential prices are still stronger than the same period last year.

‘Prices are higher than they were 12 months ago. There are many predictions circling about real estate and the economy in general, but looking at what the actual data tells us, the Victorian market is weathering the storm quite well. With the return of public auctions and easing of some restrictions, we expect the market to soon start gaining the momentum it lost due to the pandemic, said Ms Calnan.

Results. It’s a Fletchers thing.
#news #realestate #resultsitsafleetchersthing

Categories: Uncategorized

15 Harrison Street, Box Hill North

I’m thrilled to be joined by our vendor Kathy, to chat about her home at 15 Harrison Street in Box Hill North.

They have made several improvements in the home, which is a showcase of vogue styling and sun-filled comfort. Fully renovated, it offers 4 bedrooms and 2 bathrooms and is an outstanding entertainer that offers the utmost in relaxation. The lounge is a quiet retreat that contrasts the vast open-plan dining and family room. Flaunting an exceptional indoor/outdoor design perfect for successful year-round entertaining, double tri-slide doors retract to seamlessly connect the living zone with the semi-enclosed alfresco equipped with heat strips, blinds and an outdoor kitchen with rangehood. While your guests socialise, the Smeg kitchen with impressive butler’s pantry is ready to deliver the finest cuisine.

To explore the property and view the statement of information, please contact me on 0403 020 404 or visit the website: bit.ly/15HarrisonStBoxHillNorth

Categories: Listings