Home > Auction Wrap > Market Update | 10 November 2020

Market Update | 10 November 2020

After achieving another 100% auction clearance rate for the second weekend in a row, our Fletchers agents are showing no signs of slowing down as the market continues to heat up leading into Christmas.

‘The market is now showing great resilience after so much uncertainty during stage 4 lockdown,’ my colleague Steven Zervas remarked.

Complemented by an abundance of activity and strong demand for property across Victoria, the recent announcement from Premier Dan Andrews on removing both the ‘ring of steel’ and 25km travel limit are set to open new opportunities for the backlog of buyers and sellers looking for a lifestyle change.

In a recent article from Brokernews.com.au, many are now questioning whether COVID-19 has changed real estate forever, with many Australians now reassessing their lives, locations and lifestyle.

‘Traditionally, millions of people have chosen to live in areas that didn’t necessarily deliver their ideal lifestyle, but did provide convenience. Moving forward, many people will cease their daily commute and live in an ideal location and enjoy an effective work routine without the stress-inducing travel,’ the article stated.

After the Reserve Bank cut the official cash rate to 0.1%, buyers have been out in force. We saw multiple bidders at all our auctions on the weekend, whether they secured a spot on-site or participated in bidding online.

Success. It’s a Fletchers thing.

Categories: Auction Wrap
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