Market Update | 6 & 7 November 2021

November 9, 2021 Leave a comment

๐“๐ก๐ž ๐ฉ๐ซ๐จ๐ฉ๐ž๐ซ๐ญ๐ฒ ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐œ๐จ๐ง๐ญ๐ข๐ง๐ฎ๐ž๐ฌ ๐ญ๐จ ๐ž๐ง๐ฃ๐จ๐ฒ ๐š ๐ฌ๐ญ๐ซ๐จ๐ง๐ , ๐›๐ž๐ฅ๐š๐ญ๐ž๐ ๐’๐ฉ๐ซ๐ข๐ง๐  ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐š๐ฌ ๐ญ๐ก๐ž Domain ๐†๐ซ๐จ๐ฎ๐ฉ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ญ๐ก๐š๐ญ ๐Œ๐ž๐ฅ๐›๐จ๐ฎ๐ซ๐ง๐ž ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐œ๐ฅ๐ž๐š๐ซ๐š๐ง๐œ๐ž ๐ซ๐š๐ญ๐ž๐ฌ ๐ซ๐ž๐š๐œ๐ก๐ž๐ ๐ญ๐ก๐ž๐ข๐ซ ๐ก๐ข๐ ๐ก๐ž๐ฌ๐ญ ๐ฅ๐ž๐ฏ๐ž๐ฅ ๐ข๐ง ๐Ž๐œ๐ญ๐จ๐›๐ž๐ซ ๐Ÿ๐จ๐ซ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ. ๐“๐ก๐ž ๐ฅ๐š๐ฌ๐ญ ๐ญ๐ข๐ฆ๐ž ๐œ๐ฅ๐ž๐š๐ซ๐š๐ง๐œ๐ž ๐ซ๐š๐ญ๐ž๐ฌ ๐ฐ๐ž๐ซ๐ž ๐ก๐ข๐ ๐ก๐ž๐ซ ๐ฐ๐š๐ฌ ๐ข๐ง ๐€๐ฉ๐ซ๐ข๐ฅ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ•.


The number of properties going under the hammer shows that pent-up supply has entered the market over the last month, although this is expected to pick up even more, as double dose vaccinations continue to grow.


In Melbourneโ€™s eastern suburbs, the REA Group reports that overwhelming demand from family buyers has pushed house prices in Blackburn to rise 17.2 per cent in the past 12 months โ€“ making it the top performing suburb of Melbourneโ€™s east. Pricing shot up to a $1,605,944 median, as neighbouring Blackburn North also recorded significant growth of 13.9 per cent to a $1.24 million median house price.


Doncaster East, Burwood East and Camberwell also made the list for the biggest median house price growth in the region. For units, Burwood was ranked number 1, with a strong 16.4 per cent price increase to $873,500 โ€“ Deakin University proving to be a major drawcard for investors in the suburb.


Over the weekend, the Fletchers Group reported a strong clearance rate of 80 percent.


In other news, the Reserve Bank of Australiaโ€™s governor Phillip Lowe has warned borrowers to prepare for interest rates to rise from their current historic low, but not before 2023 at the earliest. He maintains that 2024 is the most likely time frame for the central bank to lift the cash rate, however noted that the board is prepared to be patient when considering a lift in interest rates.

Whilst he said that they wouldnโ€™t rise again quickly, he did say that when people are making their borrowing decisions, they need to factor this into their calculations.

๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

Categories: Auction Wrap

Market Update | 23 & 24 October 2021

October 28, 2021 Leave a comment

๐€๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ฐ๐ž๐ซ๐ž ๐ฉ๐ž๐ซ๐ฆ๐ข๐ญ๐ญ๐ž๐ ๐จ๐ง-๐ฌ๐ข๐ญ๐ž ๐ข๐ง ๐Œ๐ž๐ฅ๐›๐จ๐ฎ๐ซ๐ง๐ž ๐Ÿ๐จ๐ซ ๐ญ๐ก๐ž ๐Ÿ๐ข๐ซ๐ฌ๐ญ ๐ญ๐ข๐ฆ๐ž ๐ข๐ง ๐ฆ๐จ๐ง๐ญ๐ก๐ฌ, ๐š๐ฅ๐›๐ž๐ข๐ญ ๐ฐ๐ข๐ญ๐ก ๐œ๐š๐ฉ๐š๐œ๐ข๐ญ๐ฒ ๐š๐ง๐ ๐๐ž๐ง๐ฌ๐ข๐ญ๐ฒ ๐ฅ๐ข๐ฆ๐ข๐ญ๐ฌ. ๐–๐ก๐ข๐ฅ๐ฌ๐ญ ๐ญ๐ก๐ž๐ซ๐ž ๐ข๐ฌ ๐ฉ๐ฅ๐ž๐ง๐ญ๐ฒ ๐จ๐Ÿ ๐๐ž๐ฌ๐ข๐ซ๐ž ๐ญ๐จ ๐ ๐ž๐ญ ๐›๐š๐œ๐ค ๐ญ๐จ ๐ง๐จ๐ซ๐ฆ๐š๐ฅ๐ข๐ญ๐ฒ, ๐ญ๐ก๐ž ๐š๐œ๐œ๐ž๐ฌ๐ฌ๐ข๐›๐ข๐ฅ๐ข๐ญ๐ฒ ๐œ๐จ๐ฎ๐ฉ๐ฅ๐ž๐ ๐ฐ๐ข๐ญ๐ก ๐ญ๐ก๐ž ๐ข๐ง๐œ๐ฅ๐ž๐ฆ๐ž๐ง๐ญ ๐ฐ๐ž๐š๐ญ๐ก๐ž๐ซ ๐ฌ๐š๐ฐ ๐ฌ๐ž๐ฏ๐ž๐ซ๐š๐ฅ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ซ๐ž๐ฆ๐š๐ข๐ง ๐จ๐ง๐ฅ๐ข๐ง๐ž.


In Burwood East, the four-bedroom, family home at 4 Skene Street offered scope for renovation and attracted six bidders to the online auction. Bidding began at the bottom of the price guide and rose fast, in a mix of increments mostly ranging from $10,000 down to $1,000. The race for the keys narrowed to two bidders, with the home selling under the hammer for $1.663 million.

Auctioneer Ben Williams said, โ€œthe market is holding up really well since we have come out of the lockdown period for real estateโ€ฆthere has been a lot more stockโ€ฆdemand is still far outstripping supplyโ€. He said that buyers had become comfortable with the online method, which is why the sale went ahead virtually rather than in person.


Our team’s two auctions were called in Surrey Hills on Saturday morning, adopting the โ€˜hybridโ€™ style with both on-site and online bidders participating. The auction of 4/18 Essex Road in Surrey Hills saw a total of five bidders participate โ€“ two online and three on-site. The auction lasted for an hour, as I patiently fielded the bids traded between the parties. The successful bidder secured the keys to the home, when it was knocked down at $901,000. The following auction at 2/26 Florence Road was a much quicker affair with two bidders, with the property selling for $755,000.


In Malvern East, the auction of 12A Warida Avenue was also held on the street, seeing two bidders compete for the three-bedroom, single level home. The private, conveniently located home went on to sell for $1,013,000.


Online, the magnificently renovated and extended family home at 8 Tyrrell Street in Mont Albert North attracted five bidders and sold for $2,205,000.


In other property news, the Domain Group reports that some home sellers have brought forward their listings in hopes of getting the best price, before new mortgage rules kick in and reduce the budgets of potential buyers. Potential buyers who are hoping to borrow the maximum amount are also rushing to get in before the cut-off at the end of October.Property buyers will be assessed to ensure they could repay their loans, should the interest rates rise 3 percentage points, up from 2.5 per cent previously, under recently announced rules by bank regulator the Australian Prudential Regulation Authority (APRA) that are likely to cut buyersโ€™ maximum borrowing capacity by about 5 per cent.


But with only 8 per cent of applicants borrowing their maximum, on Commonwealth Bank figures, most buyers are unaffected, meaning property prices are likely to keep pushing higher, albeit not at the same pace.


As Victoria is set to reach the 80 per cent double-dose vaccination milestone, open for inspections will also make a return with a capacity limit of 150 attendees. Both inspection and auction attendees are required to be double vaccinated and, of course, must check-in upon arrival.


๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

Categories: Uncategorized

Market Update | 16 & 17 October 2021

October 20, 2021 Leave a comment

๐–๐ž ๐ซ๐ž๐œ๐ž๐ข๐ฏ๐ž๐ ๐ฌ๐จ๐ฆ๐ž ๐ฐ๐ž๐ฅ๐œ๐จ๐ฆ๐ž ๐ง๐ž๐ฐ๐ฌ ๐จ๐ฏ๐ž๐ซ ๐ญ๐ก๐ž ๐ฐ๐ž๐ž๐ค๐ž๐ง๐, ๐ฐ๐ข๐ญ๐ก ๐๐ซ๐ž๐ฆ๐ข๐ž๐ซ ๐ƒ๐š๐ง๐ข๐ž๐ฅ ๐€๐ง๐๐ซ๐ž๐ฐ๐ฌ ๐š๐ง๐ง๐จ๐ฎ๐ง๐œ๐ข๐ง๐  ๐ญ๐ก๐š๐ญ ๐ซ๐ž๐ฌ๐ญ๐ซ๐ข๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ซ๐ž ๐ฌ๐ž๐ญ ๐ญ๐จ ๐ž๐š๐ฌ๐ž ๐ข๐ง ๐•๐ข๐œ๐ญ๐จ๐ซ๐ข๐š ๐Ÿ๐ซ๐จ๐ฆ ๐Ÿ๐Ÿ:๐Ÿ“๐Ÿ—๐ฉ๐ฆ ๐ญ๐ก๐ข๐ฌ ๐“๐ก๐ฎ๐ซ๐ฌ๐๐š๐ฒ. ๐–๐ข๐ญ๐ก ๐Ÿ•๐ŸŽ% ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ž๐ฅ๐ข๐ ๐ข๐›๐ฅ๐ž ๐ฉ๐จ๐ฉ๐ฎ๐ฅ๐š๐ญ๐ข๐จ๐ง ๐ฏ๐š๐œ๐œ๐ข๐ง๐š๐ญ๐ž๐, ๐ญ๐ก๐ž ๐œ๐ฎ๐ซ๐Ÿ๐ž๐ฐ ๐ฐ๐ข๐ฅ๐ฅ ๐›๐ž ๐ฅ๐ข๐Ÿ๐ญ๐ž๐ ๐š๐ง๐ ๐ซ๐ž๐ฌ๐ญ๐ซ๐ข๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐จ๐ง ๐ฅ๐ž๐š๐ฏ๐ข๐ง๐  ๐ฒ๐จ๐ฎ๐ซ ๐ก๐จ๐ฆ๐ž ๐ซ๐ž๐ฆ๐จ๐ฏ๐ž๐.


In terms of real estate, private inspections will remain in place until the next vaccination milestone of 80% vaccination is reached (expected to be in the first week of November). Real estate offices will remain closed, but on-site auctions are permitted, with a maximum cap of 50 vaccinated attendees, outdoors. Masks are here to stay for the time being, required both indoors and outdoors for all Victorians.


During the week, a number of online auctions were scheduled, yielding fantastic results for our vendors. Some of the highlights included our mid-week auction of 52 Kitchener Street in Box Hill South. The beautiful four-bedroom home, zoned for Box Hill High School attracted a total of four bidders, however, it was whittled down to two extremely keen parties who sought to call the property home. I finally knocked the property down as sold at $2,055,500.


The auction of 4/51 Wandsworth Road in Surrey Hills was another online tug-of-war between two parties, trading bids to secure the single-level, three-bedroom home. With its own street frontage and within walking distance to shops, schools, and public transport, it was no surprise that the bidders didnโ€™t want to let this one go! Of course, there can only be one winner, and the property was knocked down to the successful bidder.


Over the weekend, the lovely family home at 28 Currajong Avenue in Camberwell attracted four bidders. In the treasured Sunnyside Estate, the home boasts an expansive single-level design featuring multiple living zones. The property went on to sell under the hammer for $3,465,000.


We expect that this weekend will be a mix of on-site and online auctions, so please check in online and with your local Fletchers agent to keep up to date with any properties youโ€™re interested in.


Stay safe and be well!

Categories: Uncategorized

Market Update | 9 & 10 October 2021

October 15, 2021 Leave a comment

๐Œ๐€๐‘๐Š๐„๐“ ๐”๐๐ƒ๐€๐“๐„ | Last ๐ฐe๐ž๐ค๐ž๐ง๐ ๐ฌ๐š๐ฐ ๐ญ๐ก๐ž ๐œ๐จ๐ฆ๐›๐ข๐ง๐ž๐ ๐œ๐š๐ฉ๐ข๐ญ๐š๐ฅ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐ฏ๐จ๐ฅ๐ฎ๐ฆ๐ž ๐š๐œ๐ซ๐จ๐ฌ๐ฌ ๐ญ๐ก๐ž ๐ง๐š๐ญ๐ข๐จ๐ง ๐ฃ๐ฎ๐ฆ๐ฉ ๐š๐ง ๐š๐ฌ๐ญ๐จ๐ง๐ข๐ฌ๐ก๐ข๐ง๐  ๐Ÿ“๐Ÿ ๐ฉ๐ž๐ซ ๐œ๐ž๐ง๐ญ ๐œ๐จ๐ฆ๐ฉ๐š๐ซ๐ž๐ ๐ญ๐จ ๐ฅ๐š๐ฌ๐ญ ๐ฐ๐ž๐ž๐ค, ๐š๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ๐ž๐ ๐›๐ฒ ๐ญ๐ก๐ž ๐ƒ๐จ๐ฆ๐š๐ข๐ง ๐†๐ซ๐จ๐ฎ๐ฉ. ๐“๐ก๐ž ๐ซ๐ข๐ฌ๐ž ๐ก๐ž๐ซ๐ž ๐ข๐ง ๐Œ๐ž๐ฅ๐›๐จ๐ฎ๐ซ๐ง๐ž ๐œ๐š๐ง ๐›๐ž ๐๐ข๐ซ๐ž๐œ๐ญ๐ฅ๐ฒ ๐š๐ญ๐ญ๐ซ๐ข๐›๐ฎ๐ญ๐ž๐ ๐ญ๐จ ๐ญ๐ก๐ž ๐ž๐š๐ฌ๐ข๐ง๐  ๐จ๐Ÿ ๐ซ๐ž๐ฌ๐ญ๐ซ๐ข๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ซ๐ž๐ฅ๐š๐ญ๐ข๐ง๐  ๐ญ๐จ ๐ญ๐ก๐ž ๐š๐›๐ข๐ฅ๐ข๐ญ๐ฒ ๐ญ๐จ ๐œ๐จ๐ง๐๐ฎ๐œ๐ญ ๐ข๐ง-๐ฉ๐ž๐ซ๐ฌ๐จ๐ง, ๐ฉ๐ซ๐ข๐ฏ๐š๐ญ๐ž ๐ข๐ง๐ฌ๐ฉ๐ž๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐Ÿ๐ซ๐จ๐ฆ ๐Ÿ๐Ÿ– ๐’๐ž๐ฉ๐ญ๐ž๐ฆ๐›๐ž๐ซ.


The REIV recorded a strong clearance rate of 86 per cent from another weekend of auctions conducted online. Over 800 auctions were called over the weekend, with the number expected to be over 1,000 by the following weekend. Of course, there are also a number of properties being scheduled for auction during the week as well, thanks to the flexibility that the online platform provides.


A highlight auction of the weekend was the sale of 22 Davis Street, described by my colleague and auctioneer Steven Zervas – Partner and Auctioneer – Fletchers Real Estate as โ€œthe best house in Burwood Eastโ€. He had sold the home to our vendors when it was brand new four years prior and they were hoping to achieve $1.95 million at auction on Saturday. With the home selling for $2.362 million under the hammer in a heated auction with nine bidders, the result was well above their expectations! A young family claimed the keys and are sure to enjoy the luxe five-bedroom home with its French oak floors, marble benchtops and multiple living zones.


During the week, my team and I have conducted a number of online auctions, including 2/67 Essex Road in Surrey Hills, 7 Loma Linda Grove in Balwyn North, 51 Valda Avenue in Mont Albert North and 52 Kitchener Street in Box Hill South which sold under the hammer after two bidders traded $500 bids at the end – the property eventually selling for $2,055,500.


๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

Categories: Uncategorized

Market Update | 2 & 3 October 2021

October 5, 2021 Leave a comment

๐ˆ๐ญ ๐š๐ฅ๐ฆ๐จ๐ฌ๐ญ ๐Ÿ๐ž๐ฅ๐ญ ๐ฅ๐ข๐ค๐ž ๐š ๐ง๐จ๐ซ๐ฆ๐š๐ฅ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐ฐ๐ž๐ž๐ค๐ž๐ง๐ ๐Ÿ๐จ๐ซ ๐ญ๐ก๐ž ๐Ÿ๐ข๐ซ๐ฌ๐ญ ๐ญ๐ข๐ฆ๐ž ๐ญ๐ก๐ข๐ฌ ๐’๐ฉ๐ซ๐ข๐ง๐ , ๐ฐ๐ข๐ญ๐ก ๐ฌ๐ž๐ฏ๐ž๐ซ๐š๐ฅ ๐ฉ๐ซ๐จ๐ฉ๐ž๐ซ๐ญ๐ข๐ž๐ฌ ๐ฌ๐œ๐ก๐ž๐๐ฎ๐ฅ๐ž๐ ๐ญ๐จ ๐ ๐จ ๐ฎ๐ง๐๐ž๐ซ ๐ญ๐ก๐ž ๐ก๐š๐ฆ๐ฆ๐ž๐ซ. ๐€๐ฅ๐ญ๐ก๐จ๐ฎ๐ ๐ก ๐ฐ๐ž ๐ฐ๐ž๐ซ๐ž๐งโ€™๐ญ ๐š๐›๐ฅ๐ž ๐ญ๐จ ๐ž๐ง๐ฃ๐จ๐ฒ ๐ญ๐ก๐ž ๐ฌ๐ฎ๐ง๐ฌ๐ก๐ข๐ง๐ž ๐š๐ง๐ ๐ฎ๐ฌ๐ฎ๐š๐ฅ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐ฏ๐ข๐›๐ž ๐จ๐ฎ๐ญ ๐ญ๐ก๐ž ๐Ÿ๐ซ๐จ๐ง๐ญ ๐จ๐Ÿ ๐š ๐ฉ๐ซ๐จ๐ฉ๐ž๐ซ๐ญ๐ฒ, ๐ญ๐ก๐ž ๐ฅ๐ž๐ฏ๐ž๐ฅ ๐จ๐Ÿ ๐›๐ฎ๐ฒ๐ž๐ซ ๐ข๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ ๐ฐ๐š๐ฌ ๐ก๐ข๐ ๐ก ๐š๐ง๐ ๐œ๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐จ๐ง ๐ฌ๐ญ๐ซ๐จ๐ง๐ .


In fact, the Domain Group reports that Australiaโ€™s property boom has reached record highs, resulting in the strongest annual growth in more than 30 years. Property values climbed more than 20 per cent over the past year nationally, marking the fastest annual growth seen since 1989, the latest CoreLogic National Home Value Index shows, with Melbourne up 15 per cent.


Whilst the number of homes hitting the market lifted in September, CoreLogic figures show they were still slightly down on the five-year average for this time of year, and the total supply of homes on the market is about 28 per cent below the five-year average. The combination of record low interest rates and low stock levels continues to put upward pressure on housing values.


Over the weekend, the renovated two-bedroom home at 7 East Court in Camberwell attracted 13 bidders at the online auction, which went for an hour. Steven Zervas – Partner and Auctioneer – Fletchers Real Estate fielded over 100 bids that were exchanged during the course of the auction, until it was finally sold under the hammer for $1,231,000.


Director Ben Williams called two auctions on Sunday, selling both 34 Maple Street, Blackburn and 1 Blake Street in Blackburn North under the hammer. The properties attracted four and five bidders respectively, demonstrating the demand for family homes in locations that cater for a convenient and secure lifestyle.


My team and I sold 2/24 Jersey Street, Balwyn post auction today.


We are certainly seeing the Spring property market come to life, even though it is looking a little different than in years past. Private inspections are in high demand and auctions are being scheduled both on weekends and during the week, so please ensure you keep an eye on our website and in touch with the agent, so youโ€™re kept informed.


๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

Categories: Uncategorized

Market Update | 25 & 26 September 2021

September 28, 2021 Leave a comment

๐–๐ข๐ญ๐ก ๐ญ๐ก๐ž ๐†๐ซ๐š๐ง๐ ๐…๐ข๐ง๐š๐ฅ ๐ข๐ง ๐๐ž๐ซ๐ญ๐ก, ๐ข๐ญ ๐ฐ๐š๐ฌ ๐ฎ๐ง๐ฎ๐ฌ๐ฎ๐š๐ฅ๐ฅ๐ฒ ๐›๐ฎ๐ฌ๐ฒ ๐Ÿ๐จ๐ซ ๐ญ๐ก๐ž ๐ฅ๐š๐ฌ๐ญ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐ฐ๐ž๐ž๐ค๐ž๐ง๐ ๐ข๐ง ๐’๐ž๐ฉ๐ญ๐ž๐ฆ๐›๐ž๐ซ. ๐–๐ข๐ญ๐ก ๐ค๐ข๐œ๐ค-๐จ๐Ÿ๐Ÿ ๐š๐ญ ๐Ÿ•:๐Ÿ๐Ÿ“๐ฉ๐ฆ ๐–๐€ ๐ญ๐ข๐ฆ๐ž, ๐ญ๐ก๐ž๐ซ๐ž ๐ฐ๐š๐ฌ ๐ฉ๐ฅ๐ž๐ง๐ญ๐ฒ ๐จ๐Ÿ ๐จ๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐Ÿ๐จ๐ซ ๐š๐ ๐ž๐ง๐ญ๐ฌ ๐ญ๐จ ๐ซ๐ฎ๐ง ๐ฉ๐ซ๐ข๐ฏ๐š๐ญ๐ž ๐ข๐ง๐ฌ๐ฉ๐ž๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ ๐œ๐š๐ฅ๐ฅ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐จ๐ง๐ฅ๐ข๐ง๐ž.


Boasting an inspirational renovation, the iconic Glenvill home at 13 Silverene Court in Vermont South drew a lot of interest throughout the campaign, despite the impact of an extended lockdown. Offering a superb lifestyle amongst well-kept, landscaped gardens, six bidders competed to secure the home during the online auction. Auctioneer Jeremy Desmier knocked the property down to the successful bidder at $1,723,000.


On Sunday afternoon, Director Ben Williams conducted a relaxed online auction to determine who would be the new owner of the three-bedroom family home at 33 Thornhill Drive in Forest Hill. A total of five bidders participated, until just two determined bidders traded bids until the successful purchaser placed the winning bid!


My team and I sold the near-new, masterfully designed home at 16 Peter Street in Box Hill North prior to its scheduled online auction, for $1,670,000. Recently constructed by the owner, the four-bedroom home offers glamorous interiors, deluxe Neff kitchen and sophisticated lounge/dining out to an undercover alfresco.


As we settle into the Spring selling period, it is clear that whilst it may look a little different, buyer demand remains high. The REA Group reports that prices increased rapidly during the pandemic, with data showing a 20.7% increase in national property prices over the 12 months to August.


The reduction in stock levels due to the extended lockdown has had an impact, creating a high level of pent-up demand. With the easing of restrictions to allow for private inspections and for photography and marketing to be completed, this should help to provide buyers with a greater level of choice and reduce some of the competition for individual properties.


Record low borrowing rates have also been a major driver of the increase in property prices, with the Reserve Bank of Australia holding official interest rates at the record low of 0.1% at its monthly meeting.

REA Director of Economic Research, Cameron Kusher commented, โ€œ๐˜ต๐˜ฉ๐˜ฆ ๐˜ข๐˜ฏ๐˜ค๐˜ฉ๐˜ฐ๐˜ณ๐˜ช๐˜ฏ๐˜จ ๐˜ฐ๐˜ง ๐˜ญ๐˜ฐ๐˜ธ ๐˜ช๐˜ฏ๐˜ต๐˜ฆ๐˜ณ๐˜ฆ๐˜ด๐˜ต ๐˜ณ๐˜ข๐˜ต๐˜ฆ๐˜ด ๐˜ช๐˜ด ๐˜ข ๐˜ฃ๐˜ช๐˜จ ๐˜ฅ๐˜ณ๐˜ช๐˜ท๐˜ฆ๐˜ณ ๐˜ฐ๐˜ง ๐˜ฑ๐˜ณ๐˜ช๐˜ค๐˜ฆ ๐˜จ๐˜ณ๐˜ฐ๐˜ธ๐˜ต๐˜ฉ ๐˜ฃ๐˜ถ๐˜ต ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜ฐ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ ๐˜ง๐˜ข๐˜ค๐˜ต๐˜ฐ๐˜ณ๐˜ด ๐˜ด๐˜ถ๐˜ค๐˜ฉ ๐˜ข๐˜ด ๐˜ข๐˜ฏ ๐˜ฐ๐˜ฏ๐˜จ๐˜ฐ๐˜ช๐˜ฏ๐˜จ ๐˜ด๐˜ช๐˜จ๐˜ฏ๐˜ช๐˜ง๐˜ช๐˜ค๐˜ข๐˜ฏ๐˜ต ๐˜ฅ๐˜ช๐˜ด๐˜ค๐˜ฐ๐˜ฏ๐˜ฏ๐˜ฆ๐˜ค๐˜ต ๐˜ฃ๐˜ฆ๐˜ต๐˜ธ๐˜ฆ๐˜ฆ๐˜ฏ ๐˜ฅ๐˜ฆ๐˜ฎ๐˜ข๐˜ฏ๐˜ฅ ๐˜ง๐˜ฐ๐˜ณ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฑ๐˜ฆ๐˜ณ๐˜ต๐˜ช๐˜ฆ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ด๐˜ถ๐˜ฑ๐˜ฑ๐˜ญ๐˜บ ๐˜ฐ๐˜ง ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฑ๐˜ฆ๐˜ณ๐˜ต๐˜ช๐˜ฆ๐˜ด ๐˜ง๐˜ฐ๐˜ณ ๐˜ด๐˜ข๐˜ญ๐˜ฆ, ๐˜ฐ๐˜ฏ๐˜จ๐˜ฐ๐˜ช๐˜ฏ๐˜จ ๐˜ณ๐˜ฆ๐˜ด๐˜ต๐˜ณ๐˜ช๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ด ๐˜ฐ๐˜ฏ ๐˜ฉ๐˜ฐ๐˜ธ ๐˜ฑ๐˜ฆ๐˜ฐ๐˜ฑ๐˜ญ๐˜ฆ ๐˜ค๐˜ข๐˜ฏ ๐˜ด๐˜ฑ๐˜ฆ๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ๐˜ช๐˜ณ ๐˜ฎ๐˜ฐ๐˜ฏ๐˜ฆ๐˜บ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ง๐˜ข๐˜ค๐˜ต ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ฑ๐˜ฆ๐˜ฐ๐˜ฑ๐˜ญ๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜ญ๐˜ฐ๐˜ฐ๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฐ ๐˜ถ๐˜ฑ๐˜จ๐˜ณ๐˜ข๐˜ฅ๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ๐˜ช๐˜ณ ๐˜ฉ๐˜ฐ๐˜ฎ๐˜ฆ๐˜ด ๐˜ฃ๐˜ฆ๐˜ค๐˜ข๐˜ถ๐˜ด๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ๐˜บ ๐˜ด๐˜ฑ๐˜ฆ๐˜ฏ๐˜ฅ ๐˜ด๐˜ฐ ๐˜ฎ๐˜ถ๐˜ค๐˜ฉ ๐˜ต๐˜ช๐˜ฎ๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆโ€.


Congratulations to all the Dees fans, what a game over the weekend! Stay safe and be well.


๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

Categories: Uncategorized

Market Update | 11 & 12 September 2021

September 14, 2021 Leave a comment

๐€๐ฌ ๐ฐ๐ž ๐ฆ๐š๐ซ๐ค ๐š๐ง๐จ๐ญ๐ก๐ž๐ซ ๐ฐ๐ž๐ž๐ค๐ž๐ง๐ ๐ข๐ง ๐ฅ๐จ๐œ๐ค๐๐จ๐ฐ๐ง, ๐ฐ๐žโ€™๐ซ๐ž ๐ฏ๐ž๐ซ๐ฒ ๐ฆ๐ฎ๐œ๐ก ๐ฅ๐จ๐จ๐ค๐ข๐ง๐  ๐Ÿ๐จ๐ซ๐ฐ๐š๐ซ๐ ๐ญ๐จ ๐ง๐ž๐ฑ๐ญ ๐ฐ๐ž๐ž๐ค, ๐ฐ๐ก๐ž๐ง ๐ฐ๐ž ๐ก๐จ๐ฉ๐ž ๐ญ๐จ ๐ฌ๐ž๐ž ๐ญ๐ก๐ž ๐Ÿ•๐ŸŽ% ๐Ÿ๐ข๐ซ๐ฌ๐ญ ๐๐จ๐ฌ๐ž ๐ฏ๐š๐œ๐œ๐ข๐ง๐ž ๐ญ๐ก๐ซ๐ž๐ฌ๐ก๐จ๐ฅ๐ ๐ฆ๐ž๐ญ ๐š๐ง๐ ๐ญ๐ก๐ž ๐ฌ๐ฎ๐›๐ฌ๐ž๐ช๐ฎ๐ž๐ง๐ญ ๐ซ๐ž๐ญ๐ฎ๐ซ๐ง ๐จ๐Ÿ ๐จ๐ง๐ž-๐จ๐ง-๐จ๐ง๐ž ๐ข๐ง๐ฌ๐ฉ๐ž๐œ๐ญ๐ข๐จ๐ง๐ฌ.


Buyer demand has continued to build throughout the lockdown and is likely to burst once the property market can reopen, with buyers set to face stiff competition and bullish prices to secure their dream home.


We saw a glimpse of this demand over the weekend, with two strong online auctions achieving excellent results. The beautifully updated home at 7 Liddle Way in Vermont attracted seven bidders, after the team conducted a final virtual inspection on Thursday morning. Offering multiple living zones and tucked away from the main roads, the competition was fierce, and the home sold under the hammer.


The property at 23 Ian Grove in Burwood saw five bidders compete to secure the home, and over 100 people tuning in online to watch the auction. The low maintenance, three-bedroom home is in the Mount Waverley Secondary College Zone and is on its own title, with no ownerโ€™s corporation fees. Amazingly, with no public inspections conducted due to lockdown, none of the five bidders had actually inspected the property! Auctioneer Steven Zervas knocked the property down to the successful bidder at $1,171,000.


With house prices rising by double digits over the past year in some sought-after suburbs on the back of low interest rates and a lockdown-fuelled desire from more space, the Domain Group reports that there are still good opportunities to get into the market, if buyers consider a nearby location or a different type of property.


Buyer demand is up 77.6% in the Stonnington (east) statistical region compared to this time last year, whilst demand in Bayside has jumped 73.8% and Boroondara is up 42.5%. There has also been strong rises in the tree-change hotspot of the Macedon Ranges and more affordable options such as Keilor and Tullamarine/Broadmeadows. Meanwhile in Warrandyte, house prices rose 25.8% in the year to June according to Domain figures, representing the biggest rise in Melbourne outside of the Mornington Peninsula.


For buyers priced out of the inner suburbs, I suggest Box Hill North instead of neighbouring Balwyn North and Mont Albert North. โ€œ๐˜›๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜ด๐˜ต๐˜ช๐˜ญ๐˜ญ ๐˜ฆ๐˜น๐˜ค๐˜ฆ๐˜ญ๐˜ญ๐˜ฆ๐˜ฏ๐˜ต ๐˜ฃ๐˜ถ๐˜บ๐˜ช๐˜ฏ๐˜จ ๐˜ฐ๐˜ฑ๐˜ฑ๐˜ฐ๐˜ณ๐˜ต๐˜ถ๐˜ฏ๐˜ช๐˜ต๐˜ช๐˜ฆ๐˜ด ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ฃ๐˜ถ๐˜ต ๐˜บ๐˜ฐ๐˜ถโ€™๐˜ณ๐˜ฆ ๐˜ด๐˜ต๐˜ช๐˜ญ๐˜ญ ๐˜ด๐˜ฐ ๐˜ค๐˜ญ๐˜ฐ๐˜ด๐˜ฆ ๐˜ต๐˜ฐ ๐˜ข ๐˜ญ๐˜ฐ๐˜ต ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜ข๐˜ฎ๐˜ฆ๐˜ฏ๐˜ช๐˜ต๐˜ช๐˜ฆ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ง๐˜ข๐˜ค๐˜ช๐˜ญ๐˜ช๐˜ต๐˜ช๐˜ฆ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ด๐˜ค๐˜ฉ๐˜ฐ๐˜ฐ๐˜ญ๐˜ด. ๐˜‰๐˜ถ๐˜บ๐˜ฆ๐˜ณ๐˜ด ๐˜ข๐˜ณ๐˜ฆ ๐˜ฅ๐˜ฆ๐˜ง๐˜ช๐˜ฏ๐˜ช๐˜ต๐˜ฆ๐˜ญ๐˜บ ๐˜ด๐˜ต๐˜ข๐˜ณ๐˜ท๐˜ฆ๐˜ฅ ๐˜ง๐˜ฐ๐˜ณ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฑ๐˜ฆ๐˜ณ๐˜ต๐˜บโ€ฆ๐˜ต๐˜ฉ๐˜ฐ๐˜ด๐˜ฆ ๐˜ฑ๐˜ฆ๐˜ฐ๐˜ฑ๐˜ญ๐˜ฆ ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ด๐˜ฐ๐˜ญ๐˜ฅ ๐˜ด๐˜ฐ๐˜ฎ๐˜ฆ๐˜ต๐˜ฉ๐˜ช๐˜ฏ๐˜จ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ฏ๐˜ฆ๐˜ฆ๐˜ฅ ๐˜ต๐˜ฐ ๐˜ฃ๐˜ถ๐˜บ ๐˜ด๐˜ฐ๐˜ฎ๐˜ฆ๐˜ต๐˜ฉ๐˜ช๐˜ฏ๐˜จโ€ฆ.๐˜ต๐˜ฉ๐˜ฆ๐˜บโ€™๐˜ณ๐˜ฆ ๐˜ท๐˜ฆ๐˜ณ๐˜บ ๐˜ง๐˜ณ๐˜ถ๐˜ด๐˜ต๐˜ณ๐˜ข๐˜ต๐˜ฆ๐˜ฅโ€.


Keep safe and be well.


๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

Categories: Uncategorized

Market Update | 4 & 5 September 2021

September 7, 2021 Leave a comment

๐€๐ฌ ๐•๐ข๐œ๐ญ๐จ๐ซ๐ข๐š’๐ฌ ๐ž๐ฑ๐ญ๐ž๐ง๐๐ž๐ ๐ฅ๐จ๐œ๐ค๐๐จ๐ฐ๐ง ๐ซ๐จ๐ฅ๐ฅ๐ฌ ๐จ๐ง, ๐ฃ๐ฎ๐ฌ๐ญ ๐Ÿ“๐ŸŽ๐Ÿ“ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ฐ๐ž๐ซ๐ž ๐ฌ๐œ๐ก๐ž๐๐ฎ๐ฅ๐ž๐ ๐จ๐ฏ๐ž๐ซ ๐ญ๐ก๐ž ๐ฐ๐ž๐ž๐ค๐ž๐ง๐, ๐ฐ๐ข๐ญ๐ก ๐ฆ๐š๐ง๐ฒ ๐ฏ๐ž๐ง๐๐จ๐ซ๐ฌ ๐œ๐ก๐จ๐จ๐ฌ๐ข๐ง๐  ๐ญ๐จ ๐ฐ๐ข๐ญ๐ก๐๐ซ๐š๐ฐ ๐ญ๐ก๐ž๐ข๐ซ ๐ก๐จ๐ฆ๐ž๐ฌ. ๐“๐ก๐ž ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ž๐š๐ฆ ๐ก๐š๐ ๐ญ๐ฐ๐จ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ฌ๐œ๐ก๐ž๐๐ฎ๐ฅ๐ž๐, ๐›๐จ๐ญ๐ก ๐ฌ๐ž๐ฅ๐ฅ๐ข๐ง๐  ๐ฉ๐ซ๐ข๐จ๐ซ ๐š๐ฌ ๐š๐œ๐œ๐ž๐ฉ๐ญ๐š๐›๐ฅ๐ž ๐จ๐Ÿ๐Ÿ๐ž๐ซ๐ฌ ๐ฐ๐ž๐ซ๐ž ๐ซ๐ž๐œ๐ž๐ข๐ฏ๐ž๐.


Under current restrictions, in-person inspections and on-site auctions are banned, impacting what would usually be the start of the busy Spring selling season. Regional Victoria looks set for an earlier reprieve, with Premier Daniel Andrews hinting that lockdown settings could be lifted this week. Once these restrictions are lifted, our Bellarine office will have greater capacity to service their clients and facilitate transactions again.


In metro Melbourne, agents have been doing their best to assist buyers by arranging virtual inspections of properties in conjunction with vendors. In the current circumstances, we have seen a surge in demand for properties being sold for their land value only, with purchasers often happy to buy sight-unseen, as they know they’ll only be knocking the home down anyway.


I recently sold a clinker brick duplex via online auction, which sold for a whopping $4.088 million under the hammer. One of the biggest rebuild sales, the auction of 28 Stanley Grove in Canterbury lasted for an hour and 40 minutes, with 152 bids being made during an intense battle to buy the property. “T๐˜ฉ๐˜ฆ ๐˜ฑ๐˜ฆ๐˜ณ๐˜ด๐˜ฐ๐˜ฏ ๐˜ธ๐˜ฉ๐˜ฐ ๐˜ฃ๐˜ฐ๐˜ถ๐˜จ๐˜ฉ๐˜ต ๐˜ช๐˜ต ๐˜ธ๐˜ข๐˜ด ๐˜ข๐˜ฏ ๐˜ˆ๐˜ถ๐˜ด๐˜ต๐˜ณ๐˜ข๐˜ญ๐˜ช๐˜ข๐˜ฏ ๐˜ค๐˜ช๐˜ต๐˜ช๐˜ป๐˜ฆ๐˜ฏ ๐˜ญ๐˜ช๐˜ท๐˜ช๐˜ฏ๐˜จ ๐˜ฐ๐˜ท๐˜ฆ๐˜ณ๐˜ด๐˜ฆ๐˜ข๐˜ด โ€“ ๐˜ต๐˜ฉ๐˜ฆ๐˜บ ๐˜ฉ๐˜ข๐˜ฅ ๐˜ฏ๐˜ฐ ๐˜ช๐˜ฏ๐˜ต๐˜ฆ๐˜ฏ๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ฐ๐˜ง ๐˜ญ๐˜ฐ๐˜ฐ๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ข๐˜ต ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฑ๐˜ฆ๐˜ณ๐˜ต๐˜บ ๐˜ช๐˜ฏ ๐˜ฑ๐˜ฆ๐˜ณ๐˜ด๐˜ฐ๐˜ฏ”.


Some modest restrictions are due to ease in metro Melbourne around 23 September, when 70% of the population has received one dose of the vaccine. With vaccination rates ramping up across the state, this could be brought forward as soon as 19 September. Under these eased restrictions, private inspections of unoccupied premises will be permitted, which will be a welcome move forward for the real estate industry.


On behalf of the Fletchers team, I hope that all the Fathers and Father-figures had a wonderful day on Sunday. Of course, we also remember those who are no longer with us.


Stay safe and be well.


๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญ’๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

real estate concept on screen of computer, couple looking for apartment to rent or buy
Categories: Uncategorized

Market Update | 28 & 29 August 2021

August 31, 2021 Leave a comment

๐€๐ฌ ๐•๐ข๐œ๐ญ๐จ๐ซ๐ข๐š ๐œ๐ฅ๐จ๐ฌ๐ž๐ฌ ๐ข๐ง ๐จ๐ง ๐š ๐ฆ๐จ๐ง๐ญ๐ก ๐ข๐ง ๐ฅ๐จ๐œ๐ค๐๐จ๐ฐ๐ง ๐ฐ๐ข๐ญ๐ก ๐ง๐จ ๐œ๐ž๐ซ๐ญ๐š๐ข๐ง ๐ž๐ง๐ ๐ข๐ง ๐ฌ๐ข๐ ๐ก๐ญ, ๐ข๐ญ ๐ฅ๐จ๐จ๐ค๐ฌ ๐š๐ฌ ๐ญ๐ก๐จ๐ฎ๐ ๐ก ๐š๐ญ ๐ฅ๐ž๐š๐ฌ๐ญ ๐ฌ๐จ๐ฆ๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐’๐ฉ๐ซ๐ข๐ง๐  ๐ฌ๐ž๐ฅ๐ฅ๐ข๐ง๐  ๐ฌ๐ž๐š๐ฌ๐จ๐ง ๐ฐ๐ข๐ฅ๐ฅ ๐›๐ž ๐œ๐จ๐ง๐๐ฎ๐œ๐ญ๐ž๐ ๐ฎ๐ง๐๐ž๐ซ ๐ซ๐ž๐ฌ๐ญ๐ซ๐ข๐œ๐ญ๐ข๐จ๐ง๐ฌ. ๐‚๐ฎ๐ซ๐ซ๐ž๐ง๐ญ๐ฅ๐ฒ, ๐ข๐ง-๐ฉ๐ž๐ซ๐ฌ๐จ๐ง ๐ข๐ง๐ฌ๐ฉ๐ž๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ ๐ฉ๐ฎ๐›๐ฅ๐ข๐œ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ก๐š๐ฏ๐ž ๐›๐ž๐ž๐ง ๐›๐š๐ง๐ง๐ž๐, ๐Ÿ๐จ๐ซ๐œ๐ข๐ง๐  ๐ฏ๐ž๐ง๐๐จ๐ซ๐ฌ ๐ญ๐จ ๐œ๐ก๐จ๐จ๐ฌ๐ž ๐ญ๐จ ๐ฉ๐ฎ๐ฌ๐ก ๐Ÿ๐จ๐ซ๐ฐ๐š๐ซ๐ ๐ฐ๐ข๐ญ๐ก ๐จ๐ง๐ฅ๐ข๐ง๐ž ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ, ๐œ๐ซ๐ž๐š๐ญ๐ข๐ฏ๐ž๐ฅ๐ฒ ๐ญ๐ซ๐ฒ๐ข๐ง๐  ๐ญ๐จ ๐ฉ๐ซ๐จ๐ฆ๐จ๐ญ๐ž ๐ญ๐ก๐ž๐ข๐ซ ๐ก๐จ๐ฆ๐ž, ๐จ๐ซ ๐ฉ๐จ๐ฌ๐ญ๐ฉ๐จ๐ง๐ข๐ง๐  ๐ญ๐ก๐ž๐ข๐ซ ๐ฉ๐ซ๐จ๐ฉ๐ž๐ซ๐ญ๐ฒ ๐ฌ๐š๐ฅ๐ž.


The lower stock levels have seen interest for properties on the market increase, with a number of homes selling prior to the auction or via online auction only having had a handful of in-person inspections and in some cases, none at all!


Over the weekend, five bidders competed via an online auction for the property at 45 Park Crescent in Kew. Presented in immaculately maintained, mostly original condition, the property boasts stunning beamed cathedral ceilings and a premier corner allotment that could lend itself to future redevelopment (STCA). Auctioneer Jeremy Desmier fielded just 20 bids during the half hour auction, before knocking it down at $1,650,000.


Fletchers Blackburn agent, Connor Sun, sold two properties in Burwood East prior to their scheduled online auctions over the weekend. Both 32 Newhaven Road and 15 Sugarloaf Close received acceptable offers, demonstrating the high level of interest in high quality, well located homes.


My team and I also sold 20 Surrey Street in Box Hill South prior to auction.


The Real Estate Institute of Victoria [REIV] continues to lobby the Victorian government to review the real estate industry and change its status to โ€œessentialโ€, to allow inspection of homes. In an open letter to the Premier of Victoria, the industry body states that โ€˜when Victorians buy, sell or rent a property, they are making some of the most significant financial decisions of their lives. And, as a result, itโ€™s imperative theyโ€™re informed and have had the opportunity to undertake critical due diligence.


We wholeheartedly agree, and also urge the Victorian government to remove the ban on private inspections to ensure that the unnecessary burden on homeowners is removed and those seeking access to rental properties can put a roof over their heads.


As with many other industries, the consequence of ongoing lockdowns is seeing people experience hardship โ€“ many people have bought and need to sell, for example, or have sold and need to buy. As the lockdown continues, many are being forced to undertake these key transactions virtually or sight-unseen.


We do expect that once the market does reopen, there will be a flurry of activity as homeowners who have held back due to the restrictions will scramble to get online as quickly as possible. We encourage you to reach out and start a conversation now about your options if youโ€™re considering selling this year. Many vendors are working with their agents to facilitate online inspections for keen buyers, and of course, authorities and contracts can be completed digitally.


Please stay safe and well. ๐Ÿ˜ท


๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

Categories: Uncategorized

Online Auction | 9 Kawarren St, Balwyn Nth

August 25, 2021 Leave a comment

Offered for the first time for sale in 14 years, the beautifully renovated and extended home at 9 Kawarren Street in Balwyn North was sold via online auction over the weekend.

It was a marathon auction, lasting an hour and a half, with two bidders tussling it out in the end to secure the keys. The home eventually sold under the hammer for $2,421,500 but to get there, bids of just $500 were traded for the last half an hour of the auction.

Our congratulations to our vendors and to the successful bidders who managed to hang on until the end!

Categories: Uncategorized