12th November 2013 / Reilly Waterfield: Fletchers Group News Update – 13 November

After some lovely and very welcome sunshine over Cup weekend, it seems that Melbourne is reminding us that we are a city known for having 'four seasons in one day'! Despite the inclement weather, the countdown to the Christmas period means that we are still steadily filling up the auction calendar!

The REIV recorded a clearance rate of 71% on the weekend, compared to 59% on the same weekend last year. Fletchers had a strong day under the hammer, recording a success rate of 81% for the Fletchers Group.

An outstanding result on the day was achieved at 132 Beverley Street in Doncaster East. On a low maintenance corner block of approximately 369 sqm, the property offered the successful purchaser an excellent opportunity to extend, renovate or build new (STCA). Four bidders saw the eventual sale price of $525,000 exceed the reserve by over $100,000.

Director and Auctioneer, Reilly Waterfield also conducted a successful auction in Doncaster East, at 9 Thomas Walk. The property, ideal for families, sold under the hammer for $1.06 million, with five bidders in contention for the premium, Glenvill-designed residence.

We also saw investors taking scope of market conditions, with a savvy investor securing the secluded, two bedroom single-level unit at 4/84-86 Mahoneys Road in Forest Hill. A great result, with the property selling under the hammer for $416,000 with three bidders involved. The successful investor could certainly appreciate the value of the enviable location, within walking distance to Forest Hill shops and public transport!

The updated, three bedroom villa unit at 4/163 Prospect Hill Road in Canterbury boasted an elevated position, enclosed balcony with sweeping views and light living areas – all ideally located close to shops, schools and transport. Auctioneer Mark Fletcher conducted a skilful and entertaining auction, knocking the property down for an undisclosed amount. The vendors and purchasers were thrilled, as was the listing agent, Gail Logan.

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

Next weekend is shaping up to be another big day, with the REIV expecting around 1,280 auctions to be called. Keep up to date with the results with Fletchers live Twitter feed!

We hope you have a fantastic week!

Gail Logan with the purchasers of 4/163 Prospect Hill Road, Canterbury.