Auction Snapshot – 27 & 28 April
Auction results over the weekend saw a clearance rate of 57% across the state, culminating in a total auction volume of $154 million. Despite slimmer pickings on Saturday, auction numbers are now set to bounce back with the Easter break well and truly over. With agents reportedly seeing an increase in buyers waiting for the hammer to fall before entering negotiations, it remains to be seen whether a boost in auction numbers will neutralise the trend. ‘With the banks being tougher on lending I think a lot of people are being told not to bid at auction,’ said one agent.
On the bright side, Domain described an increase in investor activity on Saturday, saying ‘investors are starting to dip their toes back into Melbourne’s housing market, after all but disappearing when banks recently clamped down on lending’. In Fletchers news, Director & Auctioneer, Jason Salan had the pleasure of bringing down the hammer on scenic family home at 1/19 Greythorn Road in Balwyn North on the weekend. Situated over a treetop view of the mountain ranges, the single-level, 3 bedroom residence attracted two bidders at auction, selling above expectations for $850,000.
Results. It’s a Fletchers thing.
11/20 Florence Road, Surrey Hills
Join me on a tour of the fantastic front unit at 11/20 Florence Road in Surrey Hills.
Being the front unit, it has its own street frontage and driveway, which really makes it feel like a small home. The living area is light and bright, and the vendors have made several improvements, including refurbishing the kitchen and updating the courtyard.
The property is located in a quiet area, but it’s still really close to public transport and local shopping options.
I look forward to meeting you at one of the upcoming open for inspections!
Auction Snapshot – 13 & 14 April
The market in 2019 has so far seen auction clearance rates holding up across the state. Continuing our winning streak of strong results across the year, Fletchers has recorded an auction clearance rate of 62% for the week, compared with the statewide results of 58% (REIV). ‘There is a lot more confidence back in the marketplace than what we’ve been seeing – it’s very promising, it’s a little bit like the old days,’ said one agent.
With the Federal election now called for May 18th, many industry experts agree that any uncertainty remaining in the market is likely to settle once the outcome of the election and any policy changes have been announced. ‘Buyers want to buy – they don’t know what’s coming up so they’re a bit cautious’.
Over the weekend, my colleague Harley Toyle and I were thrilled to sell Art Deco beauty at 2/10 Westbourne Grove on Saturday. Three bidders and one fantastic sale later, the rare and spectacular 2-storey semi-detached property went under the hammer for $1,370,000.
Results. It’s a Fletchers thing.
Fletchers Centenary Giveaway – $10k Travel Announcement
Today we announced the first quarter winners of Fletchers Centenary travel promotion!
Take a look to see the announcement of the winner of our $10,000 sales prize by Executive Chairman, Rob Fletcher and Brand & Lifestyle Ambassador, Prue Fletcher.
Congratulations to the lucky winners!
Auction Snapshot – 6 & 7 April
Comparing Victoria’s 58% auction clearance rate with Fletchers strong clearance rate result of 71%, current market trends are pointing towards an increase in sales at auction across Melbourne, with Domain reporting ‘a couple houses that went above reserve this weekend and that is unusual in this market’.
With the Federal election likely to be in May, Domain’s Senior Research Analyst, Nicola Powell, said some stability could return to the market depending on the election outcome, saying ‘it could spark investor activity with investors wanting to buy before new rules come into place’. Although the unveiling of the 2019 Federal budget will do little to help first-time buyers save for a deposit or break into the property market, News.com.au says ‘the market has made a shift in favour of buyers, meaning things are slightly less dire for those looking to enter the market’.
Over the weekend, Fletchers agents saw a wave of bidders on Saturday, with many properties seeing as many as three to four bidders per auction. One such property was 15 Midvale Avenue in Balwyn North, which was sold by Fletchers Director, Jason Salan, for well-above average results. The 4-bedroom, 2-bathroom residence attracted four bidders on auction day, with each of them fighting it out for the substantial living and dining rooms, large rumpus room and work from home living options.
Results. It’s a Fletchers thing.
2019 Herald Sun Run for the Kids
A 12.8km course to raise money for the Royal Children’s Hospital Appeal – a fantastic cause!
It was great to participate in the event again with my two children – Brock and Paige. Well done to everyone who was involved!
Domain Open Home
I was interviewed by Domain for their Open Home section, alongside my buddy Tiko the cavoodle! Have a read of my start in Bendigo, to working in the travel industry and now in real estate. It has definitely been a full life so far, I can’t wait for what the future brings.
