Auction: 2A Newton Street, Surrey Hills
Take a look at some of the highlights from our auction at 2A Newton Street in Surrey Hills.
What started as a competition between three bidders turned into a stand-off between two very motivated bidders! We were thrilled to achieve an excellent result for our clients, Caroline Dawborn and her family.
The successful purchasers have bought into a fantastic suburb which they can now call home!
Auction Snapshot | 22 & 23 June
After exceeding the industry average clearance rate by 10% this week, the Fletchers team achieved a fantastic outcome for its auctions across Melbourne, clearing more than 80% of properties over a cold, yet successful weekend.
While we are seeing as many as three to five bidders per auction, many agents and auctioneers have been reporting lower levels of stock currently on the market, creating a highly competitive auction environment for prospective buyers. In response, Domain Economist, Trent Wilshire, said ‘clearance rates over recent weeks are now at the highest point in over a year, so activity has definitely picked up. There’s more buyer interest and activity, with lower interest rates a key driver.’
In Fletchers news, 5-bedroom Californian Bungalow was a stand-out at auction over the weekend. Providing a private retreat from the hustle and bustle of everyday life, the timeless home offers its new residents an attractive dining and family room with open fireplace, solar-heated pool and fully tiled vogue ensuite. My team and I were thrilled to achieve such a fantastic result.
Results. It’s a Fletchers thing.
Melbourne Estate Agents Solving Homelessness with Early Intervention
Did you know that 28,000 Melburnians are homeless?
It’s a pretty staggering figure, especially when we live in what is considered to be the “lucky country”. Sometimes you may wonder what you can do to help, and in fact, both real estate agents and investors CAN change lives.
All it takes is a phone call. As James Buyer Advocates reports, estate agents reduced 253 evictions with early intervention phone calls. Have a read.
https://fletchers.net.au/post/melbourne-real-estate-agents-solving-homelessness
Auction: 57 Warburton Road, Canterbury
The team and I were thrilled to represent our vendor in the sale of the beautiful family home at 57 Warburton Road in Canterbury.
Attracting four bidders on auction day, take a look at the action on what was a wet Winter weekend in Melbourne!
Auction Snapshot | 15 & 16 June
Surpassing the state-wide auction clearance rate of 69%, Fletchers are pleased to have cleared more than 72% of homes over the weekend, seeing as many as 5 interested parties bidding at auction.
The strong weekend of results is said to be a sign the market is beginning to improve, with clearance rates reaching their highest point over the last 12 months. With several reports of more buyers attending open for inspections and auctions in recent weeks, it seems now it the time to get a jump on the market and beat the Spring rush. Fletchers Canterbury Partner & Auctioneer, Steven Zervas agrees.
‘The recent outcome of the Federal election has taken a lot of indecision out of the property market. Negative gearing is here to stay, retirees won’t lose their franking credits, talks of another interest rate cut in August will stimulate the market and banks have already loosened their lending requirements.’
In Fletchers news, 57 Warburton Road in Canterbury went under the hammer on Saturday for $2,490,000! With an impressive 4 bidders at auction, the luxurious c.1890 Victorian home features 4 bedrooms, Baltic pine floors, a self-cleaning Magna pool/spa and open fireplace. Congratulations to our vendors on the successful outcome.
Results. It’s a Fletchers thing
57 Warburton Road, Canterbury
Auction Snapshot | 8 & 9 June
Fewer properties were scheduled for auction over the Queen’s Birthday long weekend, temporarily hampering the improving trend in auction results over the last few weeks.
Reaching a clearance rate of 62% following subdued activity on Saturday, some agents believe the market has undergone an interesting transformation this year. ‘The observation of the market is that the buyers have come back but there are no sellers. It’s gone from one extreme to the other.’
Following a historic decision from the Reserve Bank to cut interest rates to 1.25% last week, Domain Economist, Trent Wiltshire, says its likely that the RBA will again reduce rates later this year, with talks that interest rates could be cut down to 1% by Christmas. ‘It’s likely to give the market a bit of a boost and contribute to Melbourne and Sydney house prices stabilising,’ he said.
Results. It’s a Fletchers thing.
