Archive
Market Update | 30 June 2020
As concerns grow over Melbourne’s COVID-19 outbreak, the Real Estate Institute of Victoria [REIV] has confirmed that the real estate sector will continue to do everything it can to ensure the transaction of property is provided in a safe and controlled manner.
Nonetheless, confidence in Melbourne’s property market continues to draw impressive results despite current restrictions. This weekend saw a total auction volume of $232 million and a total private sales volume of $132 million for Victoria.
REIV President, Leah Calnan, says the Victorian real estate market is vital to the state’s economy and continues to show incredible resilience during these unprecedented times.
‘The REIV’s Residential Market Index for Victoria increased by 1.8% to 125.6 over the past month, showing that despite the pandemic, the market is holding its ground. The REIV recorded an auction clearance rate of 74% for May, another indicator of the underlying strength of the market,’ Ms Calnan noted.
For those wondering how the rest of the year will play out for the property market, Domain Economist, Trent Wiltshire, says there are two likely scenarios; the first being modest price falls and the second; a gradual pick up in property sales.
‘The key factor supporting prices so far is that few people have been forced to sell their homes due to losing their jobs or having their incomes cut. This has been enabled by the government’s financial support packages assisting households whose income has fallen, in combination with banks allowing people in financial difficulties to defer mortgage repayments,’ he said.
In Fletchers news, my team and I were pleased to sell the feature-packed and perfectly placed 3-bedroom town residence on Saturday, located within a blue-ribbon locale at 2/310 Mont Albert Road in Surrey Hills. The classy and contemporary double-storey home sold after auction for $1,350,000.
Results. It’s a Fletchers thing.
#news #realestate #resultsitsafletchersthing
Market Update | 26 May 2020
As restrictions ease across Victoria, up to 20 people will be allowed at on-site auctions and open for inspections from Monday 1stJune, with the spread of COVID-19 remaining low.
In an official statement from Premier, Daniel Andrews, ‘auctions and open for inspections will be subject to the 20 person limit, plus those required to conduct the activity, with agents also required to keep the contact details of everyone who attends.’
According to Domain, the Real Estate Institute of Victoria [REIV] has welcomed the news, with president Leah Calnan telling Domain it was a ‘very positive’ step forward for the industry.
The news comes as the Residential Property Price Index has revealed that Victoria’s property market has held its ground during the COVID-19 pandemic, showing that residential prices are still stronger than the same period last year.
‘Prices are higher than they were 12 months ago. There are many predictions circling about real estate and the economy in general, but looking at what the actual data tells us, the Victorian market is weathering the storm quite well. With the return of public auctions and easing of some restrictions, we expect the market to soon start gaining the momentum it lost due to the pandemic, said Ms Calnan.
Results. It’s a Fletchers thing.
#news #realestate #resultsitsafleetchersthing
2020 Australian Open
The team and I had a fantastic time at the Aussie Open, getting to see both Ash Barty and Roger Federer in action for a team reward.
Australian Bushfire Crisis
It has been simultaneously heartbreaking and inspiring as the bushfire crisis has unfolded across Australia.
Heartbreaking to see the devastation it continues to leave behind, not to mention the human, emotional, financial and environmental impact.
It is also inspiring to see the countless volunteers risking their lives to help their fellow Aussies, as well as the way our country has been brought together with a common goal of helping those affected to not only get through this, but to rebuild after. True Aussie spirit in action and something every Australian can be proud of. ☺️
The Victorian Bushfire Appeal provides a formal channel for the public to donate money directly to affected families and communities. 👨👩👧🏠🐨
100% of donated funds will go directly to those in need. ❤️
To donate, please visit vic.gov.au/bushfireappeal
Auction Snapshot | 20 & 21 July
With auction clearance rates reaching their highest points for the year over the last few weeks, the property market in Melbourne continues to hold strong, despite reports that auction numbers are down 30 per cent when compared with last year.
According to Domain Economist, Trent Wilshire, Melbourne prices are predicted to be at their lowest level since the boom by the end of this year. ‘We might see some more activity in Spring, but I don’t think we’ll see a big increase in auction numbers until prices start increasing,’ he said.
As a result, the reduced number of houses on the market has caused a high volume of properties to sell well above their reserves across the state, further pushing up auction clearance rates.
One such example was 20A Irilbarra Road in Canterbury, which was sold by my team on Saturday. The 2-bedroom residence, located just off the prized Golden Mile, was originally listed on the market for $967,000. With an astounding 11 bidders fighting for the keys, the single-level home eventually sold for a remarkable $1,178,000.
‘Both our vendors and the successful purchasers are very happy’.
Results. It’s a Fletchers thing.
Fletchers Centenary Travel Promo
Give me a call on 0403 020 404 if you would like some advice – if you’re selling this year you’ll also go into the draw to win 1 of 4 $10,000 travel vouchers!
2019 Rate My Agent Nomination
So thrilled to be nominated once again for RateMyAgent Australia ‘Agent of the Year’ for Victoria.
The awards night will be held on February, 21…can’t wait!
https://blog.ratemyagent.com.au/2019-agent-of-the-year-nominees-announced
Fletchers 2018 Annual Awards Night
Great night out with the Fletchers team, celebrating another fantastic year!
#Achievement #fletchersawardsnight
8 Harris Street, Blackburn North
Join my vendor Greg and I on a tour of the near-new, four bedroom home at lucky Number 8 Harris Street in Blackburn North.
It’s single level living that’s just easy and the highlights include being a dual master home, the stone/Miele kitchen and the insulated, alfresco entertaining area.
All in that fantastic quiet, convenient location. I look forward to meeting you at one of the upcoming open for inspections but in the meantime, learn more or view the Statement of Information on our website: bit.ly/8HarrisStreet
5 David Street, Surrey Hills
Join me on a tour of the immaculate and elegant home at 5 David Street, right in the heart of Surrey Hills.
Offering two separate living areas, the home is on an elevated corner and also boasts a glistening stone kitchen and paved courtyard. It’s in a fantastic location within walking distance to cafes and transport, and is in the zone to Canterbury Girls’ School.
To explore the home or view the Statement of Information, visit the Fletchers website: bit.ly/5DavidStreet
