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Fletchers Group News Update – 13 August

August 13th 2012

The REIV recorded a clearance rate of 55 per cent on the weekend, matching the rate from the same weekend last year but falling short of 60 per cent rate this year to date. Whilst the overall outcome if below trend, we still see many auctions generating competitive bidding and results over reserve.

A huge crowd gathered on a chilly Melbourne morning to witness two bidders competing at 15/59 Westbank Terrace, Richmond – a large two bedroom plus study apartment near Bridge Road trams, cafes and shops.

After a strong opening bid of $590,000 auctioneer Brad Cooper fielded a total of 26 bids until the apartment was eventually sold above reserve for $638,000. Managing agent Steven Lowry noted that the young vendors were upsizing after starting a family, and the purchasers were just beginning their property journey. A great result all around!

Both Fletchers auctions conducted in Box Hill North on the weekend attracted multiple bidders, both selling under the hammer. 5 Karen Street sold for $605,000 and presented an excellent opportunity for a contemporary renovation, extension or construction of a stunning luxury home (STCA). 8 Mitta Street sold for $711,000 was best described as an immaculate family home offering generous, flexible accommodation. 

Tune into MPTV tonight from 7.30pm to catch Tim Fletcher’s appearance on the show, talking about selling your home (TV4ME – digital channel 74).

Enjoy the rest of your week!

Westbank Terrace, Richmond Purchasers
The purchasers of 15/59 Westbank Terrace put on the sold sticker…the fun part!