Home > Uncategorized > Market Update | 4 & 5 September 2021

Market Update | 4 & 5 September 2021

๐€๐ฌ ๐•๐ข๐œ๐ญ๐จ๐ซ๐ข๐š’๐ฌ ๐ž๐ฑ๐ญ๐ž๐ง๐๐ž๐ ๐ฅ๐จ๐œ๐ค๐๐จ๐ฐ๐ง ๐ซ๐จ๐ฅ๐ฅ๐ฌ ๐จ๐ง, ๐ฃ๐ฎ๐ฌ๐ญ ๐Ÿ“๐ŸŽ๐Ÿ“ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ฐ๐ž๐ซ๐ž ๐ฌ๐œ๐ก๐ž๐๐ฎ๐ฅ๐ž๐ ๐จ๐ฏ๐ž๐ซ ๐ญ๐ก๐ž ๐ฐ๐ž๐ž๐ค๐ž๐ง๐, ๐ฐ๐ข๐ญ๐ก ๐ฆ๐š๐ง๐ฒ ๐ฏ๐ž๐ง๐๐จ๐ซ๐ฌ ๐œ๐ก๐จ๐จ๐ฌ๐ข๐ง๐  ๐ญ๐จ ๐ฐ๐ข๐ญ๐ก๐๐ซ๐š๐ฐ ๐ญ๐ก๐ž๐ข๐ซ ๐ก๐จ๐ฆ๐ž๐ฌ. ๐“๐ก๐ž ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ž๐š๐ฆ ๐ก๐š๐ ๐ญ๐ฐ๐จ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ฌ๐œ๐ก๐ž๐๐ฎ๐ฅ๐ž๐, ๐›๐จ๐ญ๐ก ๐ฌ๐ž๐ฅ๐ฅ๐ข๐ง๐  ๐ฉ๐ซ๐ข๐จ๐ซ ๐š๐ฌ ๐š๐œ๐œ๐ž๐ฉ๐ญ๐š๐›๐ฅ๐ž ๐จ๐Ÿ๐Ÿ๐ž๐ซ๐ฌ ๐ฐ๐ž๐ซ๐ž ๐ซ๐ž๐œ๐ž๐ข๐ฏ๐ž๐.


Under current restrictions, in-person inspections and on-site auctions are banned, impacting what would usually be the start of the busy Spring selling season. Regional Victoria looks set for an earlier reprieve, with Premier Daniel Andrews hinting that lockdown settings could be lifted this week. Once these restrictions are lifted, our Bellarine office will have greater capacity to service their clients and facilitate transactions again.


In metro Melbourne, agents have been doing their best to assist buyers by arranging virtual inspections of properties in conjunction with vendors. In the current circumstances, we have seen a surge in demand for properties being sold for their land value only, with purchasers often happy to buy sight-unseen, as they know they’ll only be knocking the home down anyway.


I recently sold a clinker brick duplex via online auction, which sold for a whopping $4.088 million under the hammer. One of the biggest rebuild sales, the auction of 28 Stanley Grove in Canterbury lasted for an hour and 40 minutes, with 152 bids being made during an intense battle to buy the property. “T๐˜ฉ๐˜ฆ ๐˜ฑ๐˜ฆ๐˜ณ๐˜ด๐˜ฐ๐˜ฏ ๐˜ธ๐˜ฉ๐˜ฐ ๐˜ฃ๐˜ฐ๐˜ถ๐˜จ๐˜ฉ๐˜ต ๐˜ช๐˜ต ๐˜ธ๐˜ข๐˜ด ๐˜ข๐˜ฏ ๐˜ˆ๐˜ถ๐˜ด๐˜ต๐˜ณ๐˜ข๐˜ญ๐˜ช๐˜ข๐˜ฏ ๐˜ค๐˜ช๐˜ต๐˜ช๐˜ป๐˜ฆ๐˜ฏ ๐˜ญ๐˜ช๐˜ท๐˜ช๐˜ฏ๐˜จ ๐˜ฐ๐˜ท๐˜ฆ๐˜ณ๐˜ด๐˜ฆ๐˜ข๐˜ด โ€“ ๐˜ต๐˜ฉ๐˜ฆ๐˜บ ๐˜ฉ๐˜ข๐˜ฅ ๐˜ฏ๐˜ฐ ๐˜ช๐˜ฏ๐˜ต๐˜ฆ๐˜ฏ๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ฐ๐˜ง ๐˜ญ๐˜ฐ๐˜ฐ๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ข๐˜ต ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฑ๐˜ฆ๐˜ณ๐˜ต๐˜บ ๐˜ช๐˜ฏ ๐˜ฑ๐˜ฆ๐˜ณ๐˜ด๐˜ฐ๐˜ฏ”.


Some modest restrictions are due to ease in metro Melbourne around 23 September, when 70% of the population has received one dose of the vaccine. With vaccination rates ramping up across the state, this could be brought forward as soon as 19 September. Under these eased restrictions, private inspections of unoccupied premises will be permitted, which will be a welcome move forward for the real estate industry.


On behalf of the Fletchers team, I hope that all the Fathers and Father-figures had a wonderful day on Sunday. Of course, we also remember those who are no longer with us.


Stay safe and be well.


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

real estate concept on screen of computer, couple looking for apartment to rent or buy
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