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Market Update | 28 & 29 August 2021

August 31, 2021 Leave a comment

๐€๐ฌ ๐•๐ข๐œ๐ญ๐จ๐ซ๐ข๐š ๐œ๐ฅ๐จ๐ฌ๐ž๐ฌ ๐ข๐ง ๐จ๐ง ๐š ๐ฆ๐จ๐ง๐ญ๐ก ๐ข๐ง ๐ฅ๐จ๐œ๐ค๐๐จ๐ฐ๐ง ๐ฐ๐ข๐ญ๐ก ๐ง๐จ ๐œ๐ž๐ซ๐ญ๐š๐ข๐ง ๐ž๐ง๐ ๐ข๐ง ๐ฌ๐ข๐ ๐ก๐ญ, ๐ข๐ญ ๐ฅ๐จ๐จ๐ค๐ฌ ๐š๐ฌ ๐ญ๐ก๐จ๐ฎ๐ ๐ก ๐š๐ญ ๐ฅ๐ž๐š๐ฌ๐ญ ๐ฌ๐จ๐ฆ๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐’๐ฉ๐ซ๐ข๐ง๐  ๐ฌ๐ž๐ฅ๐ฅ๐ข๐ง๐  ๐ฌ๐ž๐š๐ฌ๐จ๐ง ๐ฐ๐ข๐ฅ๐ฅ ๐›๐ž ๐œ๐จ๐ง๐๐ฎ๐œ๐ญ๐ž๐ ๐ฎ๐ง๐๐ž๐ซ ๐ซ๐ž๐ฌ๐ญ๐ซ๐ข๐œ๐ญ๐ข๐จ๐ง๐ฌ. ๐‚๐ฎ๐ซ๐ซ๐ž๐ง๐ญ๐ฅ๐ฒ, ๐ข๐ง-๐ฉ๐ž๐ซ๐ฌ๐จ๐ง ๐ข๐ง๐ฌ๐ฉ๐ž๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ ๐ฉ๐ฎ๐›๐ฅ๐ข๐œ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ก๐š๐ฏ๐ž ๐›๐ž๐ž๐ง ๐›๐š๐ง๐ง๐ž๐, ๐Ÿ๐จ๐ซ๐œ๐ข๐ง๐  ๐ฏ๐ž๐ง๐๐จ๐ซ๐ฌ ๐ญ๐จ ๐œ๐ก๐จ๐จ๐ฌ๐ž ๐ญ๐จ ๐ฉ๐ฎ๐ฌ๐ก ๐Ÿ๐จ๐ซ๐ฐ๐š๐ซ๐ ๐ฐ๐ข๐ญ๐ก ๐จ๐ง๐ฅ๐ข๐ง๐ž ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ, ๐œ๐ซ๐ž๐š๐ญ๐ข๐ฏ๐ž๐ฅ๐ฒ ๐ญ๐ซ๐ฒ๐ข๐ง๐  ๐ญ๐จ ๐ฉ๐ซ๐จ๐ฆ๐จ๐ญ๐ž ๐ญ๐ก๐ž๐ข๐ซ ๐ก๐จ๐ฆ๐ž, ๐จ๐ซ ๐ฉ๐จ๐ฌ๐ญ๐ฉ๐จ๐ง๐ข๐ง๐  ๐ญ๐ก๐ž๐ข๐ซ ๐ฉ๐ซ๐จ๐ฉ๐ž๐ซ๐ญ๐ฒ ๐ฌ๐š๐ฅ๐ž.


The lower stock levels have seen interest for properties on the market increase, with a number of homes selling prior to the auction or via online auction only having had a handful of in-person inspections and in some cases, none at all!


Over the weekend, five bidders competed via an online auction for the property at 45 Park Crescent in Kew. Presented in immaculately maintained, mostly original condition, the property boasts stunning beamed cathedral ceilings and a premier corner allotment that could lend itself to future redevelopment (STCA). Auctioneer Jeremy Desmier fielded just 20 bids during the half hour auction, before knocking it down at $1,650,000.


Fletchers Blackburn agent, Connor Sun, sold two properties in Burwood East prior to their scheduled online auctions over the weekend. Both 32 Newhaven Road and 15 Sugarloaf Close received acceptable offers, demonstrating the high level of interest in high quality, well located homes.


My team and I also sold 20 Surrey Street in Box Hill South prior to auction.


The Real Estate Institute of Victoria [REIV] continues to lobby the Victorian government to review the real estate industry and change its status to โ€œessentialโ€, to allow inspection of homes. In an open letter to the Premier of Victoria, the industry body states that โ€˜when Victorians buy, sell or rent a property, they are making some of the most significant financial decisions of their lives. And, as a result, itโ€™s imperative theyโ€™re informed and have had the opportunity to undertake critical due diligence.


We wholeheartedly agree, and also urge the Victorian government to remove the ban on private inspections to ensure that the unnecessary burden on homeowners is removed and those seeking access to rental properties can put a roof over their heads.


As with many other industries, the consequence of ongoing lockdowns is seeing people experience hardship โ€“ many people have bought and need to sell, for example, or have sold and need to buy. As the lockdown continues, many are being forced to undertake these key transactions virtually or sight-unseen.


We do expect that once the market does reopen, there will be a flurry of activity as homeowners who have held back due to the restrictions will scramble to get online as quickly as possible. We encourage you to reach out and start a conversation now about your options if youโ€™re considering selling this year. Many vendors are working with their agents to facilitate online inspections for keen buyers, and of course, authorities and contracts can be completed digitally.


Please stay safe and well. ๐Ÿ˜ท


๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

Categories: Uncategorized

Online Auction | 9 Kawarren St, Balwyn Nth

August 25, 2021 Leave a comment

Offered for the first time for sale in 14 years, the beautifully renovated and extended home at 9 Kawarren Street in Balwyn North was sold via online auction over the weekend.

It was a marathon auction, lasting an hour and a half, with two bidders tussling it out in the end to secure the keys. The home eventually sold under the hammer for $2,421,500 but to get there, bids of just $500 were traded for the last half an hour of the auction.

Our congratulations to our vendors and to the successful bidders who managed to hang on until the end!

Categories: Uncategorized

Market Update | 21 & 22 August 2021

August 24, 2021 Leave a comment

๐Ž๐ฏ๐ž๐ซ ๐ญ๐ก๐ž ๐ฐ๐ž๐ž๐ค๐ž๐ง๐, ๐•๐ข๐œ๐ญ๐จ๐ซ๐ข๐š ๐ฐ๐š๐ฌ ๐จ๐ง๐œ๐ž ๐š๐ ๐š๐ข๐ง ๐ฉ๐ฅ๐š๐œ๐ž๐ ๐ข๐ง ๐š ๐ฌ๐ญ๐š๐ญ๐ž-๐ฐ๐ข๐๐ž ๐ฅ๐จ๐œ๐ค๐๐จ๐ฐ๐ง, ๐ฐ๐ข๐ญ๐ก ๐ซ๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐š๐ซ๐ž๐š๐ฌ ๐ฃ๐จ๐ข๐ง๐ข๐ง๐  ๐ฆ๐ž๐ญ๐ซ๐จ๐ฉ๐จ๐ฅ๐ข๐ญ๐š๐ง ๐Œ๐ž๐ฅ๐›๐จ๐ฎ๐ซ๐ง๐ž ๐ข๐ง ๐š ๐›๐ข๐ ๐ญ๐จ ๐œ๐ฎ๐ซ๐› ๐ญ๐ก๐ž ๐ ๐ซ๐จ๐ฐ๐ข๐ง๐  ๐ฌ๐ฉ๐ซ๐ž๐š๐ ๐จ๐Ÿ ๐‚๐Ž๐•๐ˆ๐ƒ-๐Ÿ๐Ÿ— ๐š๐œ๐ซ๐จ๐ฌ๐ฌ ๐จ๐ฎ๐ซ ๐œ๐จ๐ฆ๐ฆ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ.


Although just over 1,100 auctions were schedule in Melbourne on Saturday, some were postponed due to the lockdown. Those vendors brave enough to proceed were rewarded, with the Fletchers Group achieving a 100% success rate between properties sold under the hammer and prior to auction.


In a marathon online auction lasting 90 minutes, two bidders tussled over the renovated home at 9 Kawarren Street in Balwyn North, which eventually sold for $2,421,500. I fielded more than 100 bids from the front room of my home, with bids of just $500 taking up the final 30 minutes of the auction. The underbidders twice conceded and congratulated the other party, only to jump back in with more offers. The home sold for more than $200,000 over the reserve price โ€“ it was on the market at $2.2 million โ€“ an example of how successful online auctions can be.


โ€œ๐˜๐˜ฆ๐˜ฏ๐˜ฅ๐˜ฐ๐˜ณ๐˜ด ๐˜ค๐˜ข๐˜ฏ ๐˜ฃ๐˜ฆ ๐˜ฉ๐˜ฆ๐˜ด๐˜ช๐˜ต๐˜ข๐˜ฏ๐˜ต ๐˜ข๐˜ณ๐˜ฐ๐˜ถ๐˜ฏ๐˜ฅ ๐˜ช๐˜ต ๐˜ฃ๐˜ฆ๐˜ค๐˜ข๐˜ถ๐˜ด๐˜ฆ ๐˜ช๐˜ตโ€™๐˜ด ๐˜ต๐˜ฉ๐˜ฆ ๐˜ง๐˜ฆ๐˜ข๐˜ณ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜ถ๐˜ฏ๐˜ฌ๐˜ฏ๐˜ฐ๐˜ธ๐˜ฏ, ๐˜ข๐˜ฏ๐˜ฅ ๐˜ข ๐˜ค๐˜ฐ๐˜ถ๐˜ฑ๐˜ญ๐˜ฆ ๐˜ฐ๐˜ง ๐˜บ๐˜ฆ๐˜ข๐˜ณ๐˜ด ๐˜ข๐˜จ๐˜ฐ ๐˜ช๐˜ต ๐˜ธ๐˜ข๐˜ด๐˜ฏโ€™๐˜ต ๐˜จ๐˜ฆ๐˜ฏ๐˜ฆ๐˜ณ๐˜ข๐˜ญ ๐˜ฑ๐˜ณ๐˜ข๐˜ค๐˜ต๐˜ช๐˜ค๐˜ฆ, ๐˜ฃ๐˜ถ๐˜ต ๐˜ช๐˜ต ๐˜ช๐˜ด ๐˜ฏ๐˜ฐ๐˜ธ, ๐˜ข๐˜ฏ๐˜ฅ ๐˜โ€™๐˜ฎ ๐˜ฏ๐˜ฐ๐˜ต ๐˜ด๐˜ถ๐˜ณ๐˜ฆ ๐˜ช๐˜ง ๐˜ช๐˜ตโ€™๐˜ด ๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ต๐˜ฐ ๐˜ด๐˜ต๐˜ข๐˜บ, ๐˜ฃ๐˜ถ๐˜ต ๐˜ช๐˜ตโ€™๐˜ด ๐˜ข ๐˜ฑ๐˜ณ๐˜ฐ๐˜ญ๐˜ช๐˜ง๐˜ช๐˜ค ๐˜ธ๐˜ข๐˜บ ๐˜ฐ๐˜ง ๐˜ด๐˜ฆ๐˜ญ๐˜ญ๐˜ช๐˜ฏ๐˜จโ€.


There were only two inspections before Melbourneโ€™s sixth lockdown was announced, which made vendor Nav Krishnan feel a little nervous, with the auction held on a day when the Andrews Government announced further restrictions, including a lockdown for regional Victoria.


โ€œ๐˜๐˜ต ๐˜ธ๐˜ข๐˜ด ๐˜ณ๐˜ฆ๐˜ข๐˜ญ๐˜ญ๐˜บ ๐˜ฏ๐˜ฆ๐˜ณ๐˜ท๐˜ฆ-๐˜ณ๐˜ข๐˜ค๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ฃ๐˜ฆ๐˜ค๐˜ข๐˜ถ๐˜ด๐˜ฆ ๐˜ฐ๐˜ง ๐˜ญ๐˜ฐ๐˜ค๐˜ฌ๐˜ฅ๐˜ฐ๐˜ธ๐˜ฏ. ๐˜ž๐˜ฆ ๐˜ธ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ญ๐˜ช๐˜ฌ๐˜ฆ, โ€˜๐˜ˆ๐˜ณ๐˜ฆ ๐˜ธ๐˜ฆ ๐˜จ๐˜ฐ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฐ ๐˜ข๐˜ถ๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ฐ๐˜ณ ๐˜ฏ๐˜ฐ๐˜ต?โ€™,โ€ Mr Krishnan said. โ€œ๐˜‰๐˜ถ๐˜ต ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ณ๐˜ฆ๐˜ด๐˜ถ๐˜ญ๐˜ต ๐˜ธ๐˜ข๐˜ด ๐˜ด๐˜ถ๐˜ฑ๐˜ฆ๐˜ณ ๐˜ฆ๐˜น๐˜ค๐˜ฆ๐˜ญ๐˜ญ๐˜ฆ๐˜ฏ๐˜ต ๐˜ฆ๐˜ท๐˜ฆ๐˜ฏ ๐˜ช๐˜ง ๐˜ธ๐˜ฆ ๐˜ฅ๐˜ช๐˜ฅ๐˜ฏโ€™๐˜ต ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ข ๐˜ญ๐˜ฐ๐˜ค๐˜ฌ๐˜ฅ๐˜ฐ๐˜ธ๐˜ฏ. ๐˜–๐˜ฏ๐˜ฆ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜ง๐˜ข๐˜ค๐˜ต๐˜ฐ๐˜ณ๐˜ด ๐˜ธ๐˜ข๐˜ด ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ธ๐˜ฐ๐˜ฏโ€™๐˜ต ๐˜ฃ๐˜ฆ ๐˜ข ๐˜ญ๐˜ฐ๐˜ต ๐˜ฐ๐˜ง ๐˜ฏ๐˜ฆ๐˜ธ ๐˜ฉ๐˜ฐ๐˜ฎ๐˜ฆ๐˜ด ๐˜ฐ๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฎ๐˜ข๐˜ณ๐˜ฌ๐˜ฆ๐˜ต, ๐˜ข๐˜ต ๐˜ญ๐˜ฆ๐˜ข๐˜ด๐˜ต, ๐˜ช๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฏ๐˜ฆ๐˜ข๐˜ณ ๐˜ง๐˜ถ๐˜ต๐˜ถ๐˜ณ๐˜ฆ.โ€ The location of the house inside the coveted Balwyn High School zone was also a major drawcard.


As stock levels begin to tighten up due to the lockdown, it is becoming very frustrating for both vendors waiting to put their property on the market, and those buyers keen to purchase. We have even seen some properties sell to keen buyers, sight-unseen! These are certainly very trying times and we continue to work with both our vendors and buyers to facilitate transactions as best we can, whether that be via virtual inspections or reaching out to our database.


We strongly believe that itโ€™s important to get the ball rolling if youโ€™re considering selling, to ensure youโ€™re ahead of the pack when the inevitable post-lockdown rush to market begins. Eighteen months into the pandemic, our team is adaptable to the conditions and is available to assist you with advice and strategy. Don’t hesitate to contact me today for a confidential discussion.


๐’๐ญ๐š๐ฒ ๐ฌ๐š๐Ÿ๐ž ๐š๐ง๐ ๐›๐ž ๐ฐ๐ž๐ฅ๐ฅ. ๐Ÿ˜ท

Categories: Uncategorized

Market Update | 14 & 15 August 2021

August 17, 2021 Leave a comment

๐€๐ฌ ๐ฉ๐ž๐จ๐ฉ๐ฅ๐ž ๐ข๐ง ๐ฆ๐ž๐ญ๐ซ๐จ๐ฉ๐จ๐ฅ๐ข๐ญ๐š๐ง ๐Œ๐ž๐ฅ๐›๐จ๐ฎ๐ซ๐ง๐ž ๐ฌ๐ž๐ญ๐ญ๐ฅ๐ž๐ ๐ข๐ง๐ญ๐จ ๐š๐ง ๐ž๐ฑ๐ญ๐ž๐ง๐ฌ๐ข๐จ๐ง ๐จ๐Ÿ ๐‹๐จ๐œ๐ค๐๐จ๐ฐ๐ง ๐Ÿ”.๐ŸŽ, ๐ญ๐ก๐จ๐ฌ๐ž ๐ข๐ง ๐ซ๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐•๐ข๐œ๐ญ๐จ๐ซ๐ข๐š ๐ซ๐ž๐œ๐ž๐ข๐ฏ๐ž๐ ๐š ๐ฐ๐ž๐ฅ๐œ๐จ๐ฆ๐ž ๐ซ๐ž๐ฉ๐ซ๐ข๐ž๐ฏ๐ž ๐ฐ๐ข๐ญ๐ก ๐ซ๐ž๐ฌ๐ญ๐ซ๐ข๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ž๐š๐ฌ๐ข๐ง๐ . ๐–๐ข๐ญ๐ก ๐ญ๐ก๐ž ๐ฅ๐จ๐œ๐ค๐๐จ๐ฐ๐ง ๐ฌ๐ญ๐ข๐ฅ๐ฅ ๐ข๐ง ๐ฉ๐ฅ๐š๐œ๐ž ๐ข๐ง ๐ฆ๐ž๐ญ๐ซ๐จ ๐Œ๐ž๐ฅ๐›๐จ๐ฎ๐ซ๐ง๐ž, ๐ฉ๐ซ๐จ๐ฉ๐ž๐ซ๐ญ๐ฒ ๐ข๐ง๐ฌ๐ฉ๐ž๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ซ๐ž๐ฆ๐š๐ข๐ง ๐ฏ๐ข๐ซ๐ญ๐ฎ๐š๐ฅ ๐š๐ง๐ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐œ๐จ๐ง๐๐ฎ๐œ๐ญ๐ž๐ ๐จ๐ง๐ฅ๐ข๐ง๐ž.

Four bidders participated in the auction of 30 Russell Street in Camberwell, a double brick Federation residence nestled within the richly tree-lined Tara Estate. We gave each bidder plenty of time to put their stamp on the auction and secure the home, with the auction running for over an hour! The property was formally passed in to the highest bidder, who went on to purchase the home in post-auction negotiations.

My colleague Gail Logan and I also sold 2/7 Warwick Court, Surrey Hills in post-auction negotiations.

The auction of 13 Catherine Avenue in Doncaster East was much quicker, with the three bidders taking just 20 minutes to determine who would be the new owner. Auctioneer Jason Salan declared the four-bedroom, renovated family home under the hammer for $1,614,000.

The brilliantly designed, five-bedroom home at 15 Invermay Grove in Rosanna was auctioned by the Fletchers Banyule team over the weekend, offering buyers a substantial family home in an excellent location. It took competition from just two bidders to see the property sell under the hammer.

The Domain Group reports that overall, auction numbers continue to trend lower due to the restrictive lockdowns in Melbourne and Sydney – however, auction volumes also continue to defy the traditional winter glut.

In their July 2021 Auction Report, the Domain Group found that prior to escalated restrictions, Melbourne and Sydney were set for the busiest July on record. Whilst this did not eventuate, more sellers are choosing to postpone their auctions to a later date rather than taking their properties off the market, unlike the initial COVID lockdown last year. The strength in homes going under the hammer illustrates that sellers are more likely to proceed with their sale during periods of short, sharp lockdowns.

Please stay safe and well. ๐Ÿ˜ท

๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

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Online Auction | 28 Stanley Gv, Canterbury

August 17, 2021 Leave a comment

It may have been the online format or the number of bidders (9!) but whatever the cause, the auction of 28 Stanley Grove in Canterbury went for over an hour and a half!

The original clinker brick home was being offered for sale for the first time in 49 years, located in one of Canterbury’s most beautiful groves.

Here’s a small cut of what was a very long auction….the successful bidder had even fashioned her own paddle for the occasion!

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Making Hay While the Sun Shines

August 10, 2021 Leave a comment

I recently chatted with Grace Ormsby fromย REB (Real Estate Business), about how I’ve kept up my sales momentum – even through Melbourne’s extended lockdown.

Have a listen to the podcast on your preferred device, as we talk about how agents can still “find a way” through resilience and how we can adapt to our new normal:ย https://smarturl.it/wlh75a

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Market Update | 7 & 8 August 2021

๐‘ฝ๐’Š๐’„๐’•๐’๐’“๐’Š๐’‚๐’๐’” ๐’˜๐’†๐’“๐’† ๐’‘๐’๐’–๐’๐’ˆ๐’†๐’… ๐’Š๐’๐’•๐’ ๐’‚๐’๐’-๐’•๐’๐’ ๐’‡๐’‚๐’Ž๐’Š๐’๐’Š๐’‚๐’“ ๐’•๐’†๐’“๐’“๐’Š๐’•๐’๐’“๐’š ๐’๐’‚๐’”๐’• ๐’˜๐’†๐’†๐’Œ, ๐’˜๐’Š๐’•๐’‰ ๐’•๐’‰๐’† ๐’ˆ๐’๐’—๐’†๐’“๐’๐’Ž๐’†๐’๐’• ๐’‚๐’๐’๐’๐’–๐’๐’„๐’Š๐’๐’ˆ ๐’•๐’‰๐’† ๐’”๐’Š๐’™๐’•๐’‰ ๐’”๐’•๐’‚๐’•๐’†-๐’˜๐’Š๐’…๐’† ๐’๐’๐’„๐’Œ๐’…๐’๐’˜๐’ โ€“ ๐’”๐’๐’‚๐’•๐’†๐’… ๐’‡๐’๐’“ ๐’”๐’†๐’—๐’†๐’ ๐’…๐’‚๐’š๐’”, ๐’‰๐’๐’˜๐’†๐’—๐’†๐’“ ๐’•๐’‰๐’†๐’“๐’† ๐’Š๐’” ๐’”๐’‘๐’†๐’„๐’–๐’๐’‚๐’•๐’Š๐’๐’ ๐’•๐’‰๐’‚๐’• ๐’Š๐’• ๐’˜๐’Š๐’๐’ ๐’†๐’™๐’•๐’†๐’๐’… ๐’‡๐’–๐’“๐’•๐’‰๐’†๐’“.

Once again, sellers, buyers and agents swiftly adapted to the circumstances, with several auctions scheduled for the weekend moving online. It may have been the online format or the number of bidders (9!), but whatever the cause, our auction of 28 Stanley Grove in Canterbury went for over an hour and a half! The original clinker brick home was being offered for sale for the first time in 49 years, located in one of Canterburyโ€™s most beautiful groves. The successful bidder fashioned her own paddle for the occasion!

The stunning, builderโ€™s-own home at 10 Woburn Street in Heidelberg also sold under the hammer via online auction. Attracting six bidders, the luxurious home enjoys a premier Heidelberg Hill position and is also central to schools, transport and lifestyle options.

Domain research has reported this week that Melbourneโ€™s unit prices are set to blow out further this year, as young buyers abandon their dreams of a house and turn to apartments instead. Melbourneโ€™s median house price soared past $1 million in the June 2021 quarter, defying the pandemic and setting a new record. Units also hit a record price, rising to a median of $572,793.

While the cost of a unit sits at nearly half that of a house, experts say affordability issues will force many in the market, particularly first-home buyers, to purchase apartments rather than houses, which will then drive unit prices higher again. Domain chief of research and economics Nicola Powell said the higher house prices climbed, the more demand would flow into units.

โ€œ๐˜š๐˜ฐ๐˜ฎ๐˜ฆ ๐˜ฑ๐˜ฆ๐˜ฐ๐˜ฑ๐˜ญ๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜ง๐˜ฐ๐˜ณ๐˜ค๐˜ฆ๐˜ฅ ๐˜ต๐˜ฐ ๐˜ฃ๐˜ถ๐˜บ ๐˜ข ๐˜ถ๐˜ฏ๐˜ช๐˜ต ๐˜ช๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ๐˜ช๐˜ณ ๐˜ฅ๐˜ฆ๐˜ด๐˜ช๐˜จ๐˜ฏ๐˜ข๐˜ต๐˜ฆ๐˜ฅ ๐˜ด๐˜ถ๐˜ฃ๐˜ถ๐˜ณ๐˜ฃ๐˜ด,โ€ Dr. Powell said. โ€œ๐˜๐˜ตโ€™๐˜ด ๐˜ข๐˜ฃ๐˜ฐ๐˜ถ๐˜ต ๐˜ต๐˜ฉ๐˜ฆ๐˜ฎ ๐˜จ๐˜ฆ๐˜ต๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ง๐˜ช๐˜ณ๐˜ด๐˜ต ๐˜ณ๐˜ถ๐˜ฏ๐˜จ ๐˜ฐ๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ญ๐˜ข๐˜ฅ๐˜ฅ๐˜ฆ๐˜ณ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ช๐˜ต ๐˜ฉ๐˜ข๐˜ด ๐˜ต๐˜ฐ ๐˜ฃ๐˜ฆ ๐˜ข ๐˜ถ๐˜ฏ๐˜ช๐˜ต ๐˜ฃ๐˜ฆ๐˜ค๐˜ข๐˜ถ๐˜ด๐˜ฆ ๐˜ฉ๐˜ฐ๐˜ถ๐˜ด๐˜ฆ ๐˜ฑ๐˜ณ๐˜ช๐˜ค๐˜ฆ๐˜ด ๐˜ข๐˜ณ๐˜ฆ ๐˜ด๐˜ฐ ๐˜ฉ๐˜ช๐˜จ๐˜ฉโ€.

We will all keenly wait to hear the news on easing of the latest restrictions. Until then, stay safe!

๐‘บ๐’–๐’„๐’„๐’†๐’”๐’”. ๐‘ฐ๐’•โ€™๐’” ๐’‚ ๐‘ญ๐’๐’†๐’•๐’„๐’‰๐’†๐’“๐’” ๐’•๐’‰๐’Š๐’๐’ˆ.

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Auction | 52 Suffolk Road, Surrey Hills

Our time between Lockdown #5 and #6 was extremely brief, with only one auction weekend back out on the street!

We sold the four bedroom, Californian Bungalow at 52 Suffolk Road in Surrey Hills under the hammer, beginning with a vendor bid of $2,000,000. Two bidders then raised their hands and competed to secure the stunning home.

Congratulations to the successful purchasers and to our vendors, Sri and Leman.

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Auction | 2/45 Stott Street, Box Hill South

We saw strong bidding at the auction of 2/45 Stott Street in Box Hill South, on our first weekend post Lockdown 5.0.

Five bidders competed to secure the contemporary home, which was built in 2011 and being offered for sale for the first time.

We are thrilled for our vendor Sam, who was quite overwhelmed with the result! Congratulations also to the new owners of this fantastic home. ๐Ÿ‘

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Market Update | 31 July & 1 August 2021

Over 1,000 auctions were scheduled across Melbourne, as the auction market bounced back to a Super Saturday after Lockdown 5.0 ended earlier in the week. The team was thrilled to be back doing on-site auctions, with the group achieving a 92 per cent clearance rate.

In Burwood, the extended and renovated home at 38 Haig Street saw strong bidding from five parties, selling under the hammer. The successful purchasers were over the moon, after a twelve-month search for their dream home. Steven Zervas – Partner and Auctioneer – Fletchers Real Estate called a spirited auction, watched on for the first time by his young son, Lucas!

Offered for sale for the first time, the contemporary four-bedroom town home at 2/45 Stott Street in Box Hill South attracted five bidders and sold under the hammer. In Box Hill North, three bidders sought to secure the potential offered at 15 Kneale Drive, on the high side of the street with a desirable north-facing rear. The property sold under the hammer for $1,360,000.Designed for families, the stunning home at 20 Stanton Street in Doncaster boasts three generous living zones, glistening black kitchen with premium appliances and undercover alfresco. Attracting a lot of attention throughout the marketing campaign, the property went on to sell under the hammer for $1,703,000.

The Real Estate Institute of Victoria [REIV] June quarterly report reveals that the median house price in metropolitan Melbourne is holding steady above $1 million, confirmation that the historic March quarter result was not a one-off spike. REIV President, Leah Calnan, said that โ€œbuyers and sellers across the state are still active within a strong growth market โ€“ Victorians are out there making property decisionsโ€.

๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

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