Home > Auction Wrap, Sold > Auction Wrap – 15 April 2013

Auction Wrap – 15 April 2013

The REIV recorded 471 reported auctions on the weekend, with a final clearance rate of 70 per cent. Fletchers achieved a success rate of 83 percent, selling 10 out of the 12 properties scheduled for auction.

It was another big weekend for my team and me, selling all three properties we had scheduled under the hammer. A particularly outstanding result was the auction of 15 Acacia Street in Box Hill, which sold for $900,000 – an unexpected yet spectacular $150,000 above the vendor’s reserve! A credit to our vendors who provided us with such a great home to sell and maintaining its impeccable presentation throughout the campaign!

The classic, three bedroom brick veneer home at 27 Rishon Avenue, Blackburn South also proved popular, with six bidders competing to secure that fantastic corner block position. It sold for $742,000, over reserve by $132,000!

These big prices in the aforementioned results are demonstrative of increasing prices and the results on the weekend generally are indicative of a rising market. We certainly saw indications from late December that 2013 would be a changing market (i.e. going up), and the results throughout the year so far have lived up these signs.

Next weekend, around 620 auctions are expected in Melbourne. Fletchers have nine auctions scheduled, two of which I am calling.

Have a great week!

Tim Heavyside, Auction Day
A busy and successful auction day on the weekend!

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