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Market Update | 9 & 10 October 2021

October 15, 2021 Leave a comment

๐Œ๐€๐‘๐Š๐„๐“ ๐”๐๐ƒ๐€๐“๐„ | Last ๐ฐe๐ž๐ค๐ž๐ง๐ ๐ฌ๐š๐ฐ ๐ญ๐ก๐ž ๐œ๐จ๐ฆ๐›๐ข๐ง๐ž๐ ๐œ๐š๐ฉ๐ข๐ญ๐š๐ฅ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐ฏ๐จ๐ฅ๐ฎ๐ฆ๐ž ๐š๐œ๐ซ๐จ๐ฌ๐ฌ ๐ญ๐ก๐ž ๐ง๐š๐ญ๐ข๐จ๐ง ๐ฃ๐ฎ๐ฆ๐ฉ ๐š๐ง ๐š๐ฌ๐ญ๐จ๐ง๐ข๐ฌ๐ก๐ข๐ง๐  ๐Ÿ“๐Ÿ ๐ฉ๐ž๐ซ ๐œ๐ž๐ง๐ญ ๐œ๐จ๐ฆ๐ฉ๐š๐ซ๐ž๐ ๐ญ๐จ ๐ฅ๐š๐ฌ๐ญ ๐ฐ๐ž๐ž๐ค, ๐š๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ๐ž๐ ๐›๐ฒ ๐ญ๐ก๐ž ๐ƒ๐จ๐ฆ๐š๐ข๐ง ๐†๐ซ๐จ๐ฎ๐ฉ. ๐“๐ก๐ž ๐ซ๐ข๐ฌ๐ž ๐ก๐ž๐ซ๐ž ๐ข๐ง ๐Œ๐ž๐ฅ๐›๐จ๐ฎ๐ซ๐ง๐ž ๐œ๐š๐ง ๐›๐ž ๐๐ข๐ซ๐ž๐œ๐ญ๐ฅ๐ฒ ๐š๐ญ๐ญ๐ซ๐ข๐›๐ฎ๐ญ๐ž๐ ๐ญ๐จ ๐ญ๐ก๐ž ๐ž๐š๐ฌ๐ข๐ง๐  ๐จ๐Ÿ ๐ซ๐ž๐ฌ๐ญ๐ซ๐ข๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐ซ๐ž๐ฅ๐š๐ญ๐ข๐ง๐  ๐ญ๐จ ๐ญ๐ก๐ž ๐š๐›๐ข๐ฅ๐ข๐ญ๐ฒ ๐ญ๐จ ๐œ๐จ๐ง๐๐ฎ๐œ๐ญ ๐ข๐ง-๐ฉ๐ž๐ซ๐ฌ๐จ๐ง, ๐ฉ๐ซ๐ข๐ฏ๐š๐ญ๐ž ๐ข๐ง๐ฌ๐ฉ๐ž๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐Ÿ๐ซ๐จ๐ฆ ๐Ÿ๐Ÿ– ๐’๐ž๐ฉ๐ญ๐ž๐ฆ๐›๐ž๐ซ.


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 โ€œthe best house in Burwood Eastโ€. 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.


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

Market Update | 2 & 3 October 2021

October 5, 2021 Leave a comment

๐ˆ๐ญ ๐š๐ฅ๐ฆ๐จ๐ฌ๐ญ ๐Ÿ๐ž๐ฅ๐ญ ๐ฅ๐ข๐ค๐ž ๐š ๐ง๐จ๐ซ๐ฆ๐š๐ฅ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐ฐ๐ž๐ž๐ค๐ž๐ง๐ ๐Ÿ๐จ๐ซ ๐ญ๐ก๐ž ๐Ÿ๐ข๐ซ๐ฌ๐ญ ๐ญ๐ข๐ฆ๐ž ๐ญ๐ก๐ข๐ฌ ๐’๐ฉ๐ซ๐ข๐ง๐ , ๐ฐ๐ข๐ญ๐ก ๐ฌ๐ž๐ฏ๐ž๐ซ๐š๐ฅ ๐ฉ๐ซ๐จ๐ฉ๐ž๐ซ๐ญ๐ข๐ž๐ฌ ๐ฌ๐œ๐ก๐ž๐๐ฎ๐ฅ๐ž๐ ๐ญ๐จ ๐ ๐จ ๐ฎ๐ง๐๐ž๐ซ ๐ญ๐ก๐ž ๐ก๐š๐ฆ๐ฆ๐ž๐ซ. ๐€๐ฅ๐ญ๐ก๐จ๐ฎ๐ ๐ก ๐ฐ๐ž ๐ฐ๐ž๐ซ๐ž๐งโ€™๐ญ ๐š๐›๐ฅ๐ž ๐ญ๐จ ๐ž๐ง๐ฃ๐จ๐ฒ ๐ญ๐ก๐ž ๐ฌ๐ฎ๐ง๐ฌ๐ก๐ข๐ง๐ž ๐š๐ง๐ ๐ฎ๐ฌ๐ฎ๐š๐ฅ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐ฏ๐ข๐›๐ž ๐จ๐ฎ๐ญ ๐ญ๐ก๐ž ๐Ÿ๐ซ๐จ๐ง๐ญ ๐จ๐Ÿ ๐š ๐ฉ๐ซ๐จ๐ฉ๐ž๐ซ๐ญ๐ฒ, ๐ญ๐ก๐ž ๐ฅ๐ž๐ฏ๐ž๐ฅ ๐จ๐Ÿ ๐›๐ฎ๐ฒ๐ž๐ซ ๐ข๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ ๐ฐ๐š๐ฌ ๐ก๐ข๐ ๐ก ๐š๐ง๐ ๐œ๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐จ๐ง ๐ฌ๐ญ๐ซ๐จ๐ง๐ .


In fact, the Domain Group reports that Australiaโ€™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 youโ€™re kept informed.


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