Auction Snapshot | 31 August & 1 September
On the first auction weekend of Spring, we relished the return of some sunshine and almost 20 degree temperature!
The REIV recorded a clearance rate of 76 per cent from 585 auctions called, a significant improvement from the same time last year, when a clearance rate of just 59 per cent was achieved.
The Fletchers team ended the day with a success rate of 86.7 per cent, with agents and auctioneers surprised at just how strong the level of competition currently is. Partner and Auctioneer, Steven Zervas commented that, “there seems to be a real fear of missing out amongst buyers”.
In conjunction with Industry Insider advocate, Andrew Date, my colleague Stefan Cook and I saw six bidders compete to secure the five bedroom Californian Bungalow at 381 Station Street in Box Hill South. On a corner block, the home offered great potential and sold under the hammer for $1,721,000.
Results. It’s a Fletchers thing.
Tim Heavyside 