Tim Heavyside – Fletchers Real Estate

𝐌𝐀𝐑𝐊𝐄𝐓 𝐔𝐏𝐃𝐀𝐓𝐄 | Last 𝐰e𝐞𝐤𝐞𝐧𝐝 𝐬𝐚𝐰 𝐭𝐡𝐞 𝐜𝐨𝐦𝐛𝐢𝐧𝐞𝐝 𝐜𝐚𝐩𝐢𝐭𝐚𝐥 𝐚𝐮𝐜𝐭𝐢𝐨𝐧 𝐯𝐨𝐥𝐮𝐦𝐞 𝐚𝐜𝐫𝐨𝐬𝐬 𝐭𝐡𝐞 𝐧𝐚𝐭𝐢𝐨𝐧 𝐣𝐮𝐦𝐩 𝐚𝐧 𝐚𝐬𝐭𝐨𝐧𝐢𝐬𝐡𝐢𝐧𝐠 𝟓𝟐 𝐩𝐞𝐫 𝐜𝐞𝐧𝐭 𝐜𝐨𝐦𝐩𝐚𝐫𝐞𝐝 𝐭𝐨 𝐥𝐚𝐬𝐭 𝐰𝐞𝐞𝐤, 𝐚𝐬 𝐫𝐞𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐃𝐨𝐦𝐚𝐢𝐧 𝐆𝐫𝐨𝐮𝐩. 𝐓𝐡𝐞 𝐫𝐢𝐬𝐞 𝐡𝐞𝐫𝐞 𝐢𝐧 𝐌𝐞𝐥𝐛𝐨𝐮𝐫𝐧𝐞 𝐜𝐚𝐧 𝐛𝐞 𝐝𝐢𝐫𝐞𝐜𝐭𝐥𝐲 𝐚𝐭𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐝 𝐭𝐨 𝐭𝐡𝐞 𝐞𝐚𝐬𝐢𝐧𝐠 𝐨𝐟 𝐫𝐞𝐬𝐭𝐫𝐢𝐜𝐭𝐢𝐨𝐧𝐬 𝐫𝐞𝐥𝐚𝐭𝐢𝐧𝐠 𝐭𝐨 𝐭𝐡𝐞 𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐭𝐨 𝐜𝐨𝐧𝐝𝐮𝐜𝐭 𝐢𝐧-𝐩𝐞𝐫𝐬𝐨𝐧, 𝐩𝐫𝐢𝐯𝐚𝐭𝐞 𝐢𝐧𝐬𝐩𝐞𝐜𝐭𝐢𝐨𝐧𝐬 𝐟𝐫𝐨𝐦 𝟏𝟖 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫.

The REIV recorded a strong clearance rate of 86 per cent from another weekend of auctions conducted online. Over 800 auctions were called over the weekend, with the number expected to be over 1,000 by the following weekend. Of course, there are also a number of properties being scheduled for auction during the week as well, thanks to the flexibility that the online platform provides.

A highlight auction of the weekend was the sale of 22 Davis Street, described by my colleague and auctioneer Steven Zervas – Partner and Auctioneer – Fletchers Real Estate as “the best house in Burwood East”. He had sold the home to our vendors when it was brand new four years prior and they were hoping to achieve $1.95 million at auction on Saturday. With the home selling for $2.362 million under the hammer in a heated auction with nine bidders, the result was well above their expectations! A young family claimed the keys and are sure to enjoy the luxe five-bedroom home with its French oak floors, marble benchtops and multiple living zones.

During the week, my team and I have conducted a number of online auctions, including 2/67 Essex Road in Surrey Hills, 7 Loma Linda Grove in Balwyn North, 51 Valda Avenue in Mont Albert North and 52 Kitchener Street in Box Hill South which sold under the hammer after two bidders traded $500 bids at the end – the property eventually selling for $2,055,500.

𝐒𝐮𝐜𝐜𝐞𝐬𝐬. 𝐈𝐭’𝐬 𝐚 𝐅𝐥𝐞𝐭𝐜𝐡𝐞𝐫𝐬 𝐭𝐡𝐢𝐧𝐠.

𝐈𝐭 𝐚𝐥𝐦𝐨𝐬𝐭 𝐟𝐞𝐥𝐭 𝐥𝐢𝐤𝐞 𝐚 𝐧𝐨𝐫𝐦𝐚𝐥 𝐚𝐮𝐜𝐭𝐢𝐨𝐧 𝐰𝐞𝐞𝐤𝐞𝐧𝐝 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐟𝐢𝐫𝐬𝐭 𝐭𝐢𝐦𝐞 𝐭𝐡𝐢𝐬 𝐒𝐩𝐫𝐢𝐧𝐠, 𝐰𝐢𝐭𝐡 𝐬𝐞𝐯𝐞𝐫𝐚𝐥 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐢𝐞𝐬 𝐬𝐜𝐡𝐞𝐝𝐮𝐥𝐞𝐝 𝐭𝐨 𝐠𝐨 𝐮𝐧𝐝𝐞𝐫 𝐭𝐡𝐞 𝐡𝐚𝐦𝐦𝐞𝐫. 𝐀𝐥𝐭𝐡𝐨𝐮𝐠𝐡 𝐰𝐞 𝐰𝐞𝐫𝐞𝐧’𝐭 𝐚𝐛𝐥𝐞 𝐭𝐨 𝐞𝐧𝐣𝐨𝐲 𝐭𝐡𝐞 𝐬𝐮𝐧𝐬𝐡𝐢𝐧𝐞 𝐚𝐧𝐝 𝐮𝐬𝐮𝐚𝐥 𝐚𝐮𝐜𝐭𝐢𝐨𝐧 𝐯𝐢𝐛𝐞 𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐫𝐨𝐧𝐭 𝐨𝐟 𝐚 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲, 𝐭𝐡𝐞 𝐥𝐞𝐯𝐞𝐥 𝐨𝐟 𝐛𝐮𝐲𝐞𝐫 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐰𝐚𝐬 𝐡𝐢𝐠𝐡 𝐚𝐧𝐝 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐬𝐭𝐫𝐨𝐧𝐠.

In fact, the Domain Group reports that Australia’s property boom has reached record highs, resulting in the strongest annual growth in more than 30 years. Property values climbed more than 20 per cent over the past year nationally, marking the fastest annual growth seen since 1989, the latest CoreLogic National Home Value Index shows, with Melbourne up 15 per cent.

Whilst the number of homes hitting the market lifted in September, CoreLogic figures show they were still slightly down on the five-year average for this time of year, and the total supply of homes on the market is about 28 per cent below the five-year average. The combination of record low interest rates and low stock levels continues to put upward pressure on housing values.

Over the weekend, the renovated two-bedroom home at 7 East Court in Camberwell attracted 13 bidders at the online auction, which went for an hour. Steven Zervas – Partner and Auctioneer – Fletchers Real Estate fielded over 100 bids that were exchanged during the course of the auction, until it was finally sold under the hammer for $1,231,000.

Director Ben Williams called two auctions on Sunday, selling both 34 Maple Street, Blackburn and 1 Blake Street in Blackburn North under the hammer. The properties attracted four and five bidders respectively, demonstrating the demand for family homes in locations that cater for a convenient and secure lifestyle.

My team and I sold 2/24 Jersey Street, Balwyn post auction today.

We are certainly seeing the Spring property market come to life, even though it is looking a little different than in years past. Private inspections are in high demand and auctions are being scheduled both on weekends and during the week, so please ensure you keep an eye on our website and in touch with the agent, so you’re kept informed.

𝐒𝐮𝐜𝐜𝐞𝐬𝐬. 𝐈𝐭’𝐬 𝐚 𝐅𝐥𝐞𝐭𝐜𝐡𝐞𝐫𝐬 𝐭𝐡𝐢𝐧𝐠.