Archive

Archive for November, 2019

Auction | 14 Neath Street, Surrey Hills

November 25, 2019 Leave a comment

A crowd of over 100 people came along to the auction of the reproduction period home at 14 Neath Street in Surrey Hills, just off tree-lined Mont Albert Road.

I took the starting bid of $3,000,000 and the competition climbed from there, reaching a record auction price for the day of $3,843,000!

My team and I were thrilled to achieve a record auction price for our vendors, Chad & Lisa. They presented their home so well throughout the entire campaign and it was a pleasure to have the opportunity to market it!

Categories: Auctions

A Bumper Year for Property Sales in 2020…

November 24, 2019 Leave a comment

We’re seeing property listing numbers in Melbourne starting to improve, as vendors return to the market to try and sell before the end of the year.

“There are only four big weekends left before Christmas, and there’s been a huge increase in listings for February and March next year”.

https://www.domain.com.au/news/rising-listing-numbers-hint-at-bumper-year-for-property-sales-in-2020-911140/

 

Categories: Media

Auction | 24 Compton Street, Canterbury

November 18, 2019 Leave a comment

The rainy day forced the auction of 24 Compton Street, Canterbury to be called inside the home, but luckily there was coffee on offer and a floorplan that could comfortably accommodate the approximately 100-strong crowd.

Bidding was fast and furious amongst five parties, and the result that was achieved was beyond our vendor’s expectations! It took just 37 bids for the price to reach $1,636,000.

Results. It’s a Fletchers thing.

Categories: Auctions

Auction Snapshot | 16 & 17 November

November 18, 2019 Leave a comment

Melbourne’s property market continues to go from strength to strength as it maintains strong auction clearance rates and buyer activity in the lead up to Christmas.

After pushing through the highs and lows of the 2018-19 downturn, the market has defied the expectations of many to make an unprecedently quick recovery. REIV President, Leah Calnan, said ‘Victorian property is a growth asset; anybody who bought in the market five years ago would see an amazing return.’

In fact, a recent report from The Australian Financial Review forecasts a surge in house prices of 11% for Melbourne over the next 12 months. Population growth, three interest rate cuts and loosened credit restrictions have all been attributed to the resurgence.

While the positive market conditions have proved encouraging for buyers, demand continues to outweigh supply as listing volumes have remained particularly low in recent months. Nerida Conisbee from the REA Group cites this as an early part of the recovery cycle, speculating the imbalance will lead to ‘strong prices rises in premium suburbs’.

In Fletchers news, the charming brick Californian Bungalow at 18 Fowler Street in Box Hill South pushed past the 2 million dollar mark at auction last Saturday. Originally on the market for $1,885,000, the 5 bedroom, 2 storey residence saw 4 bidders fight it out for the set of keys. Congratulations to our vendors on the highly successful outcome.

Results. It’s a Fletchers thing.

Categories: Auction Wrap

Are you auction fit for Christmas?

November 15, 2019 Leave a comment

Cup Weekend has come and gone and all of a sudden, we find ourselves faced with the natural deadline that Christmas brings.

But before the Eastern suburbs of Melbourne start to flock to either Peninsula for holidays, there is still plenty of business to take care of with only six Auction weekends remaining in this decade.

So, if you’ve been sitting on the information loop during 2019, here’s my top tips to help get you off the fence and into your new home in 2020!

  • Have a suitable stretch budget. It’s always worth remembering that good real estate is rarely purchased at sub-market value.
  • Preparation is key. Attend the Auction having done your research, know your budget and vendor expectations, ensuring your price expectations sit within a realistic range to avoid disappointment.
  • Surround yourself with an expert team. Ensure your bank and legal representatives are primed to execute your paperwork within the appropriate timeframes, ensuring that loose ends don’t drag over the holiday period.
  • Perform on the day. Be visible, be clear and be confident and if in doubt, never shy away from having someone bid on your behalf. Confidence is key.

Good luck!

Categories: Real Estate Services

Auction | 76 Heathfield Rise, Box Hill North

November 13, 2019 Leave a comment

Renowned for its impressive lifestyle appeal, this sought-after and convenient pocket is most certainly a fantastic place to establish your family. After 24 years, the current owners are moving on and a new family can create their own memories and opportunity on this 688 sqm block.

The complimentary coffee was much-needed on what was a chilly day in Melbourne for the auction. Three bidders competed to secure the home which saw the sale price reach $1,180,000.

Results. It’s a Fletchers thing.

Categories: Auctions

Auction Snapshot | 9 & 10 November

November 13, 2019 Leave a comment

With less than 2 months until Christmas, we’re encouraged to see yet another weekend of auction clearance rates sitting above 70%. The latest data from the REIV shows a significant improvement in clearance rates from this time last year, when they stood at a mere 50%.

Delivering a total auction volume of $499 million and private sale volume of $100 million for the week, AMP Capital Chief Economist, Shane Oliver, said the property market in Victoria had passed its first major test in keeping clearance rates high as more houses continue to be listed for sale.

‘When the recovery started, it was on low volumes [of homes for sale]. Volumes are still well below boom-time levels, but it looks like it’s back to a more normal market,’ he said.

Heading into the New Year, the Federal Government’s decision to widen the First Home Buyers Scheme is set to have amazing benefits for recipients, who will be encouraged to enter the market with a 5% deposit. Coming into effect January 2020, REIV states, ‘a 5% deposit will mean that a potential homeowner would only need to save $30,000 to purchase a property worth $600,000,’ meaning that this new wave of buyers is set to give an extra boost to the market and economy come January.

Results. It’s a Fletchers thing.

Categories: Auction Wrap