Auction Snapshot – 27 & 28 April
Auction results over the weekend saw a clearance rate of 57% across the state, culminating in a total auction volume of $154 million. Despite slimmer pickings on Saturday, auction numbers are now set to bounce back with the Easter break well and truly over. With agents reportedly seeing an increase in buyers waiting for the hammer to fall before entering negotiations, it remains to be seen whether a boost in auction numbers will neutralise the trend. ‘With the banks being tougher on lending I think a lot of people are being told not to bid at auction,’ said one agent.
On the bright side, Domain described an increase in investor activity on Saturday, saying ‘investors are starting to dip their toes back into Melbourne’s housing market, after all but disappearing when banks recently clamped down on lending’. In Fletchers news, Director & Auctioneer, Jason Salan had the pleasure of bringing down the hammer on scenic family home at 1/19 Greythorn Road in Balwyn North on the weekend. Situated over a treetop view of the mountain ranges, the single-level, 3 bedroom residence attracted two bidders at auction, selling above expectations for $850,000.
Results. It’s a Fletchers thing.
