Home > Uncategorized > Market Update | 28 & 28 February 2021

Market Update | 28 & 28 February 2021

In the wake of Victoria’s second Super Saturday of auctions for the year, which saw 937 auctions recorded across the state, Melbourne’s property market continues to show no signs of slowing down.

As competition between buyers climbs to an all-time high, demand is currently outweighing supply, with hundreds of properties now selling above their reserve and many agents seeing multiple bidders at auction.

‘The thing that we’ve really been seeing over the past couple of weeks, is that buyers are trying to jump on homes for sales quite quickly and buy prior to auction. There’s such a depth and strength to the market at the moment,’ said one agent.

In Fletchers news, my team and I were thrilled with the sale for 35 Broughton Road in Surrey Hills on Saturday. With 3 bidders participating in the auction, the eye-catching, 4-bedroom Californian Bungalow sold for $1,878,000, a remarkable $178,000 above its reserve price.

Congratulations to all the buyers and sellers at auction this weekend and best of luck to all those currently in the market.

Categories: Uncategorized
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