Welcome back to the short working week! Whether attending OFI's or auctions, relaxing with family or friends, we hope that you all enjoyed the break over the Queen's Birthday long weekend.
THE REIV recorded a clearance rate of 67% over the weekend, compared to 65% on the same weekend last year. There were 227 auctions reported to the REIV, lower numbers as expected due to the long weekend. Fletchers had a successful auction day, achieving an 86% success rate. The REIV reported that clearance rates are trending at 70% which is slightly above the historical average of 69% during the winter market.
Kicking off the auction day was the two bedroom, one bathroom villa at 2/10 Nott Street in Balwyn. Extremely popular throughout the marketing campaign, the immaculately maintained residence offers open plan living and a private and peaceful alfresco terrace. Mark Fletcher fielded bids from five participating parties on the day, selling the home under the hammer for an undisclosed price. Managing agents Mark and Rob Fletcher were extremely pleased with the result, as were their vendors and buyers.
Offering an amazing opportunity for first home buyers or investors to refurbish, the one bedroom, one bathroom studio villa at 5/492 Barkers Road in Hawthorn East was arguably the best entry level opportunity around. Four parties bid to secure the opportunity to make their mark on this residence. Only one could be successful and Tim Fletcher declared the property sold for $321,000, another pleasing result for Rob and Nick Fletcher their vendors and buyers.
Successfully blending original charm with modern appeal the beautifully renovated three bedroom, one bathroom home at 120 Mullum Mullum Road in Ringwood proved popular on auction day. Managing agent and auctioneer Reilly Waterfield conducted an exciting auction with five competing bidders, eventually selling the property for $575,000.
For all of Fletchers recent sales, visit our award-winning website.
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Enjoy the rest of your week!
Reilly Waterfield, Nick Holmes and Sam Camilleri with the purchasers of 120 Mullum Mullum Road in Ringwood.
by Rob Fletcher in Miscellaneous
