Tim Heavyside – Fletchers Real Estate

Today the Victorian Government has confirmed that as of 11:59pm tonight, the current state-wide lockdown will be over. The new restrictions will be in place for the next two weeks.

In relation to real estate, on-site auctions can resume with a maximum patron cap of 100 and buyers and renters can register for private inspections, to a maximum of 10 people. Real estate offices can also reopen, with a 25 per cent capacity limit.

Over the week, vendors planning an auction sale were once again required to make an important decision for their sales campaign. Sell prior, proceed to online auction or push their auction date out in the hope of it being called out on the street. Our vendors opted for a mix of these choices as once again, they adapted to the conditions we have become so used to.

We started the week with an online auction on Monday evening for 3/289 Mont Albert Road in Surrey Hills. Four bidders competed for the newly renovated and extended two-storey home. The property went on to sell under the hammer, showcasing how comfortable both vendors and buyers have become with the online auction method of sale.

Also in Surrey Hills, the contemporary yet low-maintenance home at 1/291 Elgar Road sold prior to the scheduled online auction. My team and I worked alongside Ian van Eijk from the Blackburn office – their vendors are stoked with the result!

Nick Fletcher’s vendor at 11 Mitchell Street in Richmond opted to sell prior as well, finalising the sale on Friday night. Renovated and extended, the single-fronted home offered the perfect configuration for young professionals.
Stay safe!

𝙎𝙪𝙘𝙘𝙚𝙨𝙨. 𝙄𝙩’𝙨 𝙖 𝙁𝙡𝙚𝙩𝙘𝙝𝙚𝙧𝙨 𝙩𝙝𝙞𝙣𝙜.

𝐌𝐞𝐥𝐛𝐮𝐫𝐧𝐢𝐚𝐧𝐬 𝐰𝐞𝐫𝐞 𝐩𝐥𝐮𝐧𝐠𝐞𝐝 𝐢𝐧𝐭𝐨 𝐚𝐥𝐥 𝐭𝐨𝐨 𝐟𝐚𝐦𝐢𝐥𝐢𝐚𝐫 𝐭𝐞𝐫𝐫𝐢𝐭𝐨𝐫𝐲 𝐥𝐚𝐬𝐭 𝐓𝐡𝐮𝐫𝐬𝐝𝐚𝐲, 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐟𝐢𝐟𝐭𝐡 𝐬𝐭𝐚𝐭𝐞-𝐰𝐢𝐝𝐞 𝐥𝐨𝐜𝐤𝐝𝐨𝐰𝐧 𝐛𝐞𝐜𝐚𝐮𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐩𝐚𝐧𝐝𝐞𝐦𝐢𝐜. 𝐖𝐢𝐭𝐡 𝐨𝐯𝐞𝐫 𝟏,𝟎𝟎𝟎 𝐚𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐬𝐜𝐡𝐞𝐝𝐮𝐥𝐞𝐝 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐰𝐞𝐞𝐤𝐞𝐧𝐝, 𝐯𝐞𝐧𝐝𝐨𝐫𝐬 𝐰𝐞𝐫𝐞 𝐟𝐨𝐫𝐜𝐞𝐝 𝐭𝐨 𝐪𝐮𝐢𝐜𝐤𝐥𝐲 𝐝𝐞𝐜𝐢𝐝𝐞 𝐰𝐡𝐞𝐭𝐡𝐞𝐫 𝐭𝐨 𝐛𝐫𝐢𝐧𝐠 𝐭𝐡𝐞𝐢𝐫 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐚𝐮𝐜𝐭𝐢𝐨𝐧 𝐟𝐨𝐫𝐰𝐚𝐫𝐝 𝐭𝐨 𝐓𝐡𝐮𝐫𝐬𝐝𝐚𝐲 𝐧𝐢𝐠𝐡𝐭, 𝐦𝐨𝐯𝐞 𝐭𝐨 𝐚𝐧 𝐨𝐧𝐥𝐢𝐧𝐞 𝐚𝐮𝐜𝐭𝐢𝐨𝐧, 𝐨𝐫 𝐩𝐨𝐬𝐭𝐩𝐨𝐧𝐞.

Our vendors at 8 Golden Ridge Drive in Croydon Hills opted for a dusk auction on Thursday night. Offering broad appeal, the contemporary family home attracted six bidders, with the property selling under the hammer for $1,052,000. Our Blackburn and Ringwood teams worked together seamlessly to achieve an excellent result!

In Burwood East, the auction of 49 Hilltop Crescent was also brought forward to Thursday night. The immaculate brick home offered scope for renovation and saw five bidders compete for the opportunity. The property sold under the hammer for $1,425,000.

By the weekend, auctions moved online to comply with the current government restrictions. Auctioneer Rod Burton fielded bids from 7 parties at the auction for 1A Pearwood Street in Ringwood. Most bidders opted to place their bids via the chat function, each trying to place the winning bid to secure the single-level home. It wasn’t until the very pointy end of the auction, when a new bidder emerged, after waiting patiently for most of the auction. Calling out his bid the “old-school” way, he went on to place the winning bid and would become the new owner of 1A Pearwood Street.

We encourage you to keep up to date with changes on our website to auction dates, times, and locations. As we await further news on restrictions, many auctions are being moved online and/or their times being updated.

My team and I will be holding an online auction at 5pm tonight for 3/289 Mont Albert Road in Surrey Hills.

Our sales and property management teams continue to work remotely and are available to assist you with any questions you may have. Be safe and well.

𝐀𝐬 𝐬𝐜𝐡𝐨𝐨𝐥 𝐡𝐨𝐥𝐢𝐝𝐚𝐲𝐬 𝐜𝐨𝐦𝐞 𝐭𝐨 𝐚𝐧 𝐞𝐧𝐝 𝐚𝐧𝐝 𝐦𝐚𝐧𝐲 𝐚𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐫𝐞𝐬𝐜𝐡𝐞𝐝𝐮𝐥𝐞𝐝 𝐭𝐨 𝐉𝐮𝐥𝐲 𝐚𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐝𝐮𝐞 𝐭𝐨 𝐌𝐞𝐥𝐛𝐨𝐮𝐫𝐧𝐞’𝐬 𝐭𝐰𝐨-𝐰𝐞𝐞𝐤 𝐥𝐨𝐜𝐤𝐝𝐨𝐰𝐧, 𝐰𝐞 𝐞𝐱𝐩𝐞𝐜𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐚𝐜𝐭𝐢𝐯𝐢𝐭𝐲 𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐧𝐞𝐱𝐭 𝐟𝐞𝐰 𝐰𝐞𝐞𝐤𝐬.

On Saturday. close to 1,000 properties were scheduled to go under the hammer, up 14 per cent from the previous week. The Real Estate Institute of Victoria [REIV] reported a clearance rate of 79 per cent, whilst the Fletchers Group was thrilled to achieve a success rate of 86 per cent for our clients.The Domain coffee van kept everyone warm at the auction of 39 Stanton Street in Greensborough, which we were very grateful for! Six bidders competed to secure the home, which sold under the hammer for $737,000.

My colleague Steven Zervas represented some of his old school friends with the sale of 1/65 Blaxland Drive in Dandenong North. A total of three bidders competed to secure the stylish two-bedroom town home, which sold for $509,000. Steven was pleased to have been entrusted with the sale of the property.

Our Blackburn office had a huge auction weekend, achieving a 100% success rate under the hammer. Amongst the results was the sale of the classic three-bedroom home at 17 Neville Street in Box Hill South, which offered opportunity to build a luxury residence or multiple townhouses, The property sold for $1,676,000. In Burwood, the stunning family home at 49A Somers Street saw four parties participate in bidding, until the home sold under the hammer for $1,790,000.

The upcoming Spring selling season is sure to be a real test for the property market, as there should be a greater supply of stock becoming available. However, economists at the big four banks expect property prices to surge by at least 10 per cent and as much as 17 per cent this year, before growth slows to a still solid 5-6 per cent in 2022.

Success. It’s a Fletchers thing.

We saw strong, spirited bidding at the auction of 10 Mahala Court in Blackburn South. It’s not just the street name that sounds nice, the home offers contemporary finishes, privacy and an excellent location.

Bidding started at $1,200,000 and the four participating bidders quickly saw the property announced ‘on the market’, before it went on to sell under the hammer.

Congratulations to the successful purchasers and we’re so happy for our vendors, Branko and Jess!

𝐈𝐭 𝐰𝐚𝐬 𝐚 𝐪𝐮𝐢𝐞𝐭𝐞𝐫 𝐚𝐮𝐜𝐭𝐢𝐨𝐧 𝐰𝐞𝐞𝐤𝐞𝐧𝐝 𝐝𝐮𝐞 𝐭𝐨 𝐭𝐡𝐞 𝐬𝐜𝐡𝐨𝐨𝐥 𝐡𝐨𝐥𝐢𝐝𝐚𝐲𝐬, 𝐰𝐢𝐭𝐡 𝐚𝐩𝐩𝐫𝐨𝐱𝐢𝐦𝐚𝐭𝐞𝐥𝐲 𝟖𝟓𝟎 𝐚𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐬𝐜𝐡𝐞𝐝𝐮𝐥𝐞𝐝. 𝐈𝐭 𝐟𝐨𝐥𝐥𝐨𝐰𝐬 𝐚𝐧 𝐢𝐧𝐭𝐞𝐫𝐫𝐮𝐩𝐭𝐞𝐝 𝐦𝐨𝐧𝐭𝐡 𝐨𝐟 𝐚𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐉𝐮𝐧𝐞, 𝐰𝐡𝐞𝐫𝐞 𝐫𝐞𝐬𝐮𝐥𝐭𝐬 𝐰𝐞𝐫𝐞 𝐚𝐟𝐟𝐞𝐜𝐭𝐞𝐝 𝐛𝐲 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐫𝐞𝐬𝐭𝐫𝐢𝐜𝐭𝐢𝐨𝐧𝐬, 𝐢𝐧 𝐰𝐡𝐢𝐜𝐡 𝐭𝐡𝐞 𝐚𝐮𝐜𝐭𝐢𝐨𝐧 𝐦𝐚𝐫𝐤𝐞𝐭 𝐦𝐨𝐯𝐞𝐝 𝐨𝐧𝐥𝐢𝐧𝐞 𝐟𝐨𝐫 𝐭𝐰𝐨 𝐰𝐞𝐞𝐤𝐬 𝐝𝐮𝐫𝐢𝐧𝐠 𝐥𝐨𝐜𝐤𝐝𝐨𝐰𝐧.

Domain senior research analyst, Nicola Powell, said Melbourne’s auction clearance rate dipped in June to 70.4 per cent, 1 percentage point lower than in May. She further commented that “the impact of lockdowns and COVID-19 weighed heavily on the auction market over the month, nevertheless the city still recorded its highest June result since 2015”.

The Fletchers Group was thrilled to achieve a clearance rate of 86 per cent over the weekend. There were three auctions scheduled in Box Hill North, one selling prior, one selling under the hammer and one shortly after auction. My team and I sold the near-new residence at 10 Janda Court prior, its architecture, style and luxury fixtures and fittings attracting a lot of interest throughout the campaign. Three bidders competed for the property at 87 Woodhouse Grove, which offered the opportunity to renovate, extend or build brand new (STCA). Finally, 120 Dorking Road attracted four bidders and ultimately sold post auction. Neat and tidy, the charming two-bedroom home sits on a large block of approximately 769 sq m.

Offering scope to subdivide and develop (STCA), the three-bedroom home at 45 Alvena Crescent in Heathmont sits on approximately 777 sq m and sold under the hammer. My colleague Trudy Brewster ran an excellent campaign, and I auctioned the property.

In Balwyn North, the contemporary three-bedroom home at 44 Kawarren Street attracted two bidders and sold under the hammer for $1,400,000. Within the Balwyn High School zone, the home had been updated and enhanced, but also offered opportunity as an ideal home site (STCA).

Success. It’s a Fletchers thing.