Archive for February, 2021

Market Update | 20 & 21 February 2021

February 21, 2021 Leave a comment

Following the events of Victoria’s snap 5-day lockdown last week, Melbourne’s property market returned for its first Super Saturday of the year, which saw a remarkable 823 auctions recorded across the state.

Interestingly, the on-site ban of auctions and inspections during lockdown resulted in many agents choosing to reschedule auctions to the weekend just passed, leading to one of the biggest auction weekends of the year.

This brought in a total auction volume of $815 million for Victoria, with another $265 million from private sales.With agents reporting ‘no ill effects’ from Melbourne’s strict stage 4 restrictions, the latest news from Domain revealed that buyers were back at public auctions in big, socially distanced numbers’ on Saturday.

Domain Senior Research Analyst, Nicola Powell, also said that with news the COVID-19 vaccine roll-out would begin this week, confidence was growing.

‘With such strong results, more vendors will be enticed to the market eventually and while housing finance is as it is, the market is going to remain heated,’ she said.

With buyers out in droves on Saturday, our auction with the highest amount of bidders went to 9A Shepherd Street in Surrey Hills, which had a total of 7 bidders fight it out for the 3 bedroom, single level haven.

Success. It’s a Fletchers thing.

Categories: Uncategorized

AREA Awards

February 18, 2021 Leave a comment

Thrilled to be recognised as the #3 agent in the AREA Top Agent in Victoria category.

It was a tough 2020 for everyone but we managed to get through it and despite the recent lockdown, this year is looking much more promising!

As always, I am very grateful to my personal team and the wider Fletchers Group for their support, as well as the clients that entrust the sale of their most important asset with us.

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Auction | 11 Beatty Street, Mont Albert

February 3, 2021 Leave a comment

Boasting contemporary designer excellence, the property at 11 Beatty Street in Mont Albert was architecturally designed by our vendors, Lou and Paula.

Auction day drew a crowd but despite the interest in the home, we officially passed the property in. Our negotiations with the highest bidder were successful, with the home selling post-auction for $1,650,000.

Congratulations to our vendors and the successful purchaser!

Categories: Auctions

Market Update | 30 & 31 January 2021

February 1, 2021 Leave a comment

Record low interest rates and government incentives continue to have a positive impact on the property market, despite the economy still being in recovery-mode. The Domain House Price Report shows that apartment prices in Melbourne, for example, finished 2020 up by 2.5%. Middle-ring suburbs such as Burwood, Williamstown, Blackburn and Hampton recorded strong price growth.

Of course, Melbourne’s median house price now sits at $936,073 after rising 5.3% in the last three months of 2020. The resilience of Melbourne’s property prices is evident by not only surpassing pre-pandemic levels but setting new house and unit price records. One of the biggest increases in house prices was seen in the suburbs along the Mornington Peninsula, with the rush to buy a lifestyle property since the pandemic saw prices there rise by nearly 25% over the past year.

The last auction weekend for January 2021 saw the REIV report a strong clearance rate of 82%, compared to 69% at the same time last year. Whilst auction numbers are still low given the time of year, the Domain Group identified that it was first home buyers and upsizers dominating bidding activity over the weekend.

The Fletchers Group was thrilled to achieve an 80% success rate, with most properties attracting multiple bidders and generating plenty of competition.

Success. It’s a Fletchers thing.

Categories: Uncategorized