Archive for June, 2021

Auction | 67 Orchard Cres, Mont Albert Nth

Built in the 1950’s and on the market for the first time in 23 years, the three bedroom family home at 67 Orchard Crescent in Mont Albert North attracted three bidders at auction.

With a first bid of $1,250,000 the home was quickly announced on the market and went on to sell under the hammer.

We are thrilled for the successful purchasers and also for our vendors, Ian and Regina. Congratulations!

Categories: Uncategorized

Market Update | 26 & 27 June 2021

Over 1,200 were scheduled to go under the hammer on the last auction weekend of the financial year, with many sales rescheduled post the “circuit-breaker” lockdown. The rain held off and although the temperature was a bit fresh, it was good to stay dry!

With the upcoming end of financial year, we expected to see many sales as it was the last chance to buy before the state government discount to stamp duty ends. The discount of 25 per cent of stamp duty was available to people who bought existing homes for under $1 million, brought in during the worst of COVID-19 last year to help maintain property sales.

From 1 July, stamp duty will rise for property sales over $2 million and the pandemic discount for properties under $1 million will end on the same date. This did not appear to have an impact on the buyers on the weekend however, with the Fletchers Group achieving a success rate of 82 per cent for the weekend.

The market is still hot and in addition to the properties sold at auction, we also had a number of homes sell prior due to demand. To sell prior can sometimes be the right road to take for the vendor and the buyers.

Success. It’s a Fletchers thing.

Categories: Uncategorized

Market Update | 19 & 20 June 2021

𝐃𝐞𝐬𝐩𝐢𝐭𝐞 𝐦𝐨𝐬𝐭 𝐜𝐚𝐦𝐩𝐚𝐢𝐠𝐧𝐬 𝐛𝐞𝐢𝐧𝐠 𝐢𝐧𝐭𝐞𝐫𝐫𝐮𝐩𝐭𝐞𝐝 𝐝𝐮𝐞 𝐭𝐨 𝐭𝐡𝐞 𝐥𝐨𝐜𝐤𝐝𝐨𝐰𝐧, 𝐚𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐰𝐞𝐫𝐞 𝐬𝐭𝐢𝐥𝐥 𝐰𝐞𝐥𝐥-𝐚𝐭𝐭𝐞𝐧𝐝𝐞𝐝 𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐰𝐞𝐞𝐤𝐞𝐧𝐝, 𝐰𝐢𝐭𝐡 𝐛𝐮𝐲𝐞𝐫𝐬 𝐫𝐞𝐦𝐚𝐢𝐧𝐢𝐧𝐠 𝐤𝐞𝐞𝐧 𝐭𝐨 𝐬𝐞𝐜𝐮𝐫𝐞 𝐭𝐡𝐞𝐢𝐫 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐨𝐟 𝐜𝐡𝐨𝐢𝐜𝐞. 𝐖𝐡𝐢𝐥𝐬𝐭 𝐬𝐨𝐦𝐞 𝐫𝐞𝐬𝐭𝐫𝐢𝐜𝐭𝐢𝐨𝐧𝐬 𝐫𝐞𝐦𝐚𝐢𝐧, 𝐭𝐡𝐞 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐦𝐚𝐫𝐤𝐞𝐭 𝐜𝐚𝐧 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐭𝐨 𝐟𝐮𝐧𝐜𝐭𝐢𝐨𝐧, 𝐰𝐢𝐭𝐡 𝐛𝐮𝐲𝐞𝐫𝐬 𝐧𝐨 𝐥𝐨𝐧𝐠𝐞𝐫 𝐡𝐞𝐥𝐝 𝐛𝐚𝐜𝐤.

In Forest Hill, the lifestyle convenience on offer at the auction of 5A Norma Road saw two bidders compete for the two-storey town residence. Auctioneer Jee Chin was thrilled to see the home sell under the hammer for $1,004,000. Over in Ringwood, the stylishly updated home at 2 Ashcombe Drive was successfully sold post auction for $1,060,000.

On Sunday, the auction at 31 Culwell Avenue in Mitcham attracted two bidders but was passed in at $1,500,000. The property was later sold for $1,565,000 to the highest bidder, after a lengthy negotiation process. Comprehensively renovated and extended the home is brilliantly located within walking distance to local parks and transport.

In other property news, the Domain Group reports that Melbourne’s first home buyers are not taking any longer to enter the market than they were this time last year, despite the pandemic property boom. Melbourne first home buyers are reported to need six years to save a deposit for an entry level home. Domain senior research analyst, Dr Nicola Powell, points to wage growth and government incentives that are helping first home buyers get into the market. In addition, she says “the majority of Melbourne’s house price growth has been in the upper segment of the market…the lower segment of the market did see price growth as well, but not by as much as the upper end”.

Success. It’s a Fletchers thing.


Categories: Uncategorized

Auction | 2A Golding Street, Canterbury

Thrilled to represent our vendors, Chris & Sahar, in the marketing and auction of their gorgeous home at 2A Golding Street in Canterbury.

Just two years old and in a blue-chip Canterbury location, it took just two bidders to see the property quickly go on the market and then sell under the hammer.

Congratulations to our vendors and of course to the successful purchasers, who have bought a fantastic property.

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Market Update | 12 & 13 June 2021

𝐓𝐡𝐢𝐬 𝐐𝐮𝐞𝐞𝐧’𝐬 𝐁𝐢𝐫𝐭𝐡𝐝𝐚𝐲 𝐥𝐨𝐧𝐠 𝐰𝐞𝐞𝐤𝐞𝐧𝐝 𝐬𝐚𝐰 𝐬𝐭𝐫𝐞𝐞𝐭 𝐚𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐫𝐞𝐭𝐮𝐫𝐧 𝐭𝐨 𝐌𝐞𝐥𝐛𝐨𝐮𝐫𝐧𝐞, 𝐚𝐥𝐛𝐞𝐢𝐭 𝐰𝐢𝐭𝐡 𝐚 𝟓𝟎-𝐩𝐞𝐫𝐬𝐨𝐧 𝐦𝐚𝐱𝐢𝐦𝐮𝐦 𝐜𝐚𝐩𝐚𝐜𝐢𝐭𝐲 𝐥𝐢𝐦𝐢𝐭 𝐚𝐧𝐝 𝐦𝐚𝐬𝐤-𝐰𝐞𝐚𝐫𝐢𝐧𝐠 𝐚𝐧𝐝 𝐡𝐚𝐧𝐝 𝐬𝐚𝐧𝐢𝐭𝐢𝐬𝐢𝐧𝐠 𝐣𝐮𝐬𝐭 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐨𝐮𝐭𝐢𝐧𝐞.

Normally we may expect it to be much quieter, but after a two-week lock-down and travel restrictions remaining in place, there were some big auction results achieved. Many vendors have had their auction date changed multiple times, as we all try to keep up with the circumstances thrown at us by the ongoing COVID-19 pandemic.

The Fletchers Group achieved an 82 per cent clearance rate over the weekend, with auctions held on both Saturday and Sunday. We saw seven competitive bidders at the auction of 22 Cooloongatta Road in Camberwell, which went on to sell for $1,950,000. My colleague Mark Fletcher said that the result showed that the market is still “very strong”.

In Canterbury, it took just two bidders to see the stunning near-new home at 2A Golding Street sell, in an excellent result for the blue-chip suburb. Meanwhile in Ashwood, the substantial four-bedroom town home at 2/11 Railway Avenue sold under the hammer for $1,340,000. Four bidders saw the property go $70,000 above the vendor’s reserve.

Next weekend looks set to feel a little more “normal”, and we do hope that restrictions will be eased further as planned later in the week.

Success. It’s a Fletchers thing.

Categories: Uncategorized

Market Update | 5 & 6 June 2021

𝐌𝐞𝐥𝐛𝐮𝐫𝐧𝐢𝐚𝐧𝐬 𝐛𝐫𝐚𝐜𝐞𝐝 𝐟𝐨𝐫 𝐰𝐢𝐧𝐭𝐞𝐫𝐲 𝐰𝐞𝐚𝐭𝐡𝐞𝐫 𝐜𝐨𝐧𝐝𝐢𝐭𝐢𝐨𝐧𝐬 𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐰𝐞𝐞𝐤𝐞𝐧𝐝, 𝐚𝐬 𝐰𝐞 𝐬𝐞𝐭𝐭𝐥𝐞𝐝 𝐢𝐧𝐭𝐨 𝐚 𝐬𝐞𝐜𝐨𝐧𝐝 𝐰𝐞𝐞𝐤 𝐨𝐟 𝐥𝐨𝐜𝐤𝐝𝐨𝐰𝐧 𝐝𝐮𝐞 𝐭𝐨 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐨𝐮𝐭𝐛𝐫𝐞𝐚𝐤. 𝐖𝐢𝐭𝐡 𝐣𝐮𝐬𝐭 𝐟𝐢𝐯𝐞 𝐩𝐞𝐫𝐦𝐢𝐭𝐭𝐞𝐝 𝐫𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐥𝐞𝐚𝐯𝐞 𝐡𝐨𝐦𝐞, 𝐛𝐨𝐭𝐡 𝐢𝐧-𝐩𝐞𝐫𝐬𝐨𝐧 𝐢𝐧𝐬𝐩𝐞𝐜𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐝 𝐨𝐧-𝐬𝐢𝐭𝐞 𝐚𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐫𝐞𝐦𝐚𝐢𝐧 𝐛𝐚𝐧𝐧𝐞𝐝.

Despite the lockdown rules, Melbourne buyers were still keen to snap up a property. Whilst a number of properties sold prior to their scheduled weekend auction, several went under the hammer online.

We saw 15 people register to bid for the property at 33 Bolinda Road in Balwyn North, which had just two owners since being built in the 1960’s. The couple who owned the home had a nervous week prior to auction, monitoring conditions with agent Nick Fletcher to determine whether to sell prior or proceed to auction. They were selling to downsize and watched online as the property sold for $2,619,000 to a family now planning to live in the home.

Also in Balwyn North, a sought-after single level villa unit at 2/10 Hatfield Street attracted 8 bidders and sold under the hammer. Director & Auctioneer, Jeremy Desmier, expertly fielded bids from the parties as they whittled down to one-thousand-dollar increments, until the home was declared sold.

With plans and permits ready and no heritage overlay, the property at 18 Milverton Street in Camberwell attracted four bidders online. I facilitated the bidding until the property on a prized corner block sold under the hammer.

The Fletchers Group was thrilled to achieve a 100% auction clearance rate over the weekend and extend our congratulations to all successful vendors and purchasers. Of course, these are very challenging times and we hope our clients and the community stay well and safe. We certainly hope that the current lockdown will end as planned this week.

Success. It’s a Fletchers thing.

Categories: Uncategorized

Auction | 6 Crossman Court, Box Hill South

Our pre-lockdown auction at 6 Crossman Court in Box Hill South saw 3 bidders get involved after starting with a vendor bid of $1,300,000.

Zoned for highly sought-after Box Hill High and Roberts McCubbin Primary School, the high-set four bedroom home is well-located in a quiet court.

The property sold under the hammer – big congratulations to our vendors and the successful purchasers!

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Market Update | 29 & 30 May 2021

𝐕𝐢𝐜𝐭𝐨𝐫𝐢𝐚𝐧𝐬 𝐰𝐞𝐫𝐞 𝐩𝐥𝐮𝐧𝐠𝐞𝐝 𝐢𝐧𝐭𝐨 𝐚𝐥𝐥 𝐭𝐨𝐨 𝐟𝐚𝐦𝐢𝐥𝐢𝐚𝐫 𝐥𝐨𝐜𝐤𝐝𝐨𝐰𝐧 𝐜𝐨𝐧𝐝𝐢𝐭𝐢𝐨𝐧𝐬 𝐥𝐚𝐬𝐭 𝐅𝐫𝐢𝐝𝐚𝐲, 𝐚𝐬 𝐭𝐡𝐞 𝐬𝐭𝐚𝐭𝐞 𝐛𝐞𝐠𝐚𝐧 𝐚 𝟕-𝐝𝐚𝐲 “𝐜𝐢𝐫𝐜𝐮𝐢𝐭-𝐛𝐫𝐞𝐚𝐤𝐞𝐫” 𝐭𝐨 𝐬𝐭𝐞𝐦 𝐭𝐡𝐞 𝐟𝐥𝐨𝐰 𝐨𝐟 𝐚 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐨𝐮𝐭𝐛𝐫𝐞𝐚𝐤. 𝐀𝐬 𝐚 𝐫𝐞𝐬𝐮𝐥𝐭, 𝐢𝐧-𝐩𝐞𝐫𝐬𝐨𝐧 𝐢𝐧𝐬𝐩𝐞𝐜𝐭𝐢𝐨𝐧𝐬 𝐚𝐫𝐞 𝐛𝐚𝐧𝐧𝐞𝐝, 𝐚𝐧𝐝 𝐚𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐦𝐨𝐯𝐞𝐝 𝐭𝐨 𝐨𝐧𝐥𝐢𝐧𝐞/𝐯𝐢𝐫𝐭𝐮𝐚𝐥 𝐨𝐧𝐥𝐲.

We saw several auctions moved forward to Thursday night and more still selling prior to their scheduled auctions as agents negotiated sales before lockdown began.

My team and I held our first “twilight” auction for the property at 83 Middlesex Road in Surrey Hills, which was conducted safely and was a great success! The fully renovated Californian Bungalow home sold under the hammer, and both vendor and successful purchasers were rapt with the result.

In Glen Iris, the auction of 10 Florence Avenue was also brought forward, attracting four bidders and selling under the hammer for $1,905,000.Many auctions move online, and now well-practiced in this space, it did not deter buyers looking to secure their dream home.

Over on the Mornington Peninsula, Director & Auctioneer Josh Callaghan fielded 107 bids during the online auction of 11 Maxwell Street in Blairgowrie. The auction resulted in a ground-breaking sales result of $2,562,001.

We await news of whether the lockdown will be extended past 7 days, but regardless of the outcome, we are confident that the property market will continue with strength after this brief pause in normal activity.

Success. It’s a Fletchers thing.

Categories: Uncategorized