10th March 2014 / Mark Fletcher: Fletchers Group News Update – 11 March

We enjoyed a long weekend due to Labour Day and the weather in Melbourne did not disappoint…the sunshine was lovely and it was great to soak it up!

Auction volumes were low because of the public holiday, with the REIV expecting less than 300 to be called. A clearance rate of 71% was recorded, compared to 62% on the same weekend last year. With a couple of properties selling prior, Fletchers only conducted a handful of auctions across our Eastern suburbs offices. It was a fantastic day 'at the office' for Fletchers, with a success rate of 100% achieved!

A great crowd of around 100 people saw 8 bidders compete for the property at 81 Hawthorn Road in Forest Hill. Solely family owned, the refreshed three bedroom home is well situated on a generous block of approximately 536 sqm, with opportunity for extension (STCA). The property sold under the hammer for $710,000.

Selling well above their vendor's expectations, the auction of 21 Trevor Court in Mount Waverley attracted six bidders, after a strong marketing campaign by agents Mark Fletcher and Steven Zervas. The light-filled family sold for $900,000 – a great outcome for all involved!

Senior Associate, David Taylor conducted a great auction in front of a large crowd at 2 Newtown Street in Surrey Hills. The classic four bedroom plus study brick veneer home offers the possibility of a new home site (STCA) on approximately 815 sqm. The existing family-friendly floorplan also proved an inviting alternative, with 8 bidders competing to secure it. An excellent result of $1.505 million was achieved!

Fletchers Mornington Peninsula also had a good day, selling 35 Station Road in Red Hill under the hammer for $530,000. Recently renovated, the two storey home saw over 60 inspections throughout the campaign and it was a fantastic result for buyer and seller alike.

For all of Fletchers recent sales, visit our award-winning website.

Auction numbers increase again this weekend, with the REIV expecting two more weekends of approximately 1,000 auctions each! This will result in more than 3,000 auctions for March, which is the highest level since 2008.

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Enjoy the rest of the week!

The Autumn market is blossoming like Spring!