The second week of spring is already upon us, with auction results remaining consistent. The REIV initially recorded a clearance rate of 61 per cent from the weekend's auctions; however this has since been downgraded to 58 per cent following some late results. With over 1,400 auctions expected in Victoria in the lead up to the AFL Grand Final, the next two weeks will be very important.
Fletchers Executive Chairman, Tim Fletcher, does expect September to be relatively quiet as many people won't get serious about buying or selling until after the AFL finals series. He notes that, "in many respects, it is a tough market and vendors have to be realistic about their expectations…but there are other cases where you have got four or five people wanting to buy a place."
Buyers certainly are sourcing quality across all price groups, and house prices are a factor of supply and demand, which makes the growth outlook for some suburbs far better than others. We certainly saw buyers out in force at the auction of 67 Nungerner Street in Balwyn, which offered excellent potential to enhance, extend or redevelop to construct the perfect family residence. Three bidders also competed at the auction of 2 Silverleaf Court in Forest Hill, an elegant family home with an enticing sun-soaked front garden.
It is certainly not just auctions that reap fantastic results! Ben Williams and Robert Sheahan listed 8 Brenda Street, Nunawading for a full asking price of $629,950. It sold for $647,000 – $17,050 above the full asking price! It certainly highlights the important of engaging an agent with proven negotiating skills.
In the same week, Robert listed and sold 51 Worrell Street, Nunawading for $565,250 – the best thing about listing and selling the home within seven days was that it happened fast enough for the vendor to secure the home that they had their hearts set on. They rang Robert because they knew of his track record of getting good results in the Whitehorse area…and he didn't disappoint!
If you are thinking of selling this spring, call Fletchers today on (03) 9836 2222 for a complimentary appraisal to discuss what your home could sell for in today's market.
Enjoy the rest of your week!
Jeanne Kalopita, Robert Sheahan & Ben Williams from Fletchers Whitehorse.
by Ben Williams in Miscellaneous
