Home > Uncategorized > Market Update | 24 & 25 April 2021

Market Update | 24 & 25 April 2021

After some promising looking sunshine in the morning, it ended up being a chilly Autumn day in Melbourne on Saturday. Despite the cooler weather, Melbourne’s property market was surprisingly buoyant, with strong results once again achieved under the hammer.

The REIV reported a clearance rate of 80 per cent over the weekend, as the median house price in Victoria recorded one of its largest quarterly increases. For the first time, houses in metro Melbourne surpassed a median value of $1 million, jumping by 8.8 per cent from the previous quarter to land at $1,004,500. REIV President, Leah Calnan, notes that “high demand across the state has been fuelled by an increase in activity following Victoria’s lockdowns which saw thousands of auctions cancelled”.

The Fletchers Group was thrilled to achieve an auction clearance rate of 89 per cent over the weekend. My team and I sold 8 Rose Avenue in Surrey Hills, in a private indoor auction. I also called the auction of 33 Peel Street in Kew, which sold under the hammer.

Activity was paused on Sunday to mark ANZAC Day, as we took the time to reflect on the service and sacrifice of all those who have served and who are currently serving. We will remember them.

Success. It’s a Fletchers thing.

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