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Fletchers Group News Update – 14 November

November 14th 2012

The REIV recorded a clearance rate of 59 per cent on the weekend, compared to 51 per cent for the same weekend last year. As the market enters the last few weeks of the spring selling season, buyers will welcome the increase in stock and the corresponding choice in homes.

Fletchers began auction day with an excellent result in Balwyn, at 2 Belgrove Avenue. Five bidders pushed the price of the sympathetically extended and renovated home $100,000 above reserve, with a final sale price of $1.185 million. The home certainly held appeal as a family home, with auctioneer James Bateman observing the strong demand for family homes in the $1 million range.

Never shy in front of a crowd, James had another opportunity to display his excellent auctioneering skills as over 100 people congregated at the auction of 12 Galt Street, in Box Hill North. In another hotly contested auction, eight bidders were involved and pushed the price above reserve, the perfectly located three bedroom home selling for $685,000. The crowd clapped as the home was knocked down to the successful bidders, who were young first home buyers. The vendors were also thrilled that a young couple bought the home, which was being sold for the first time in 62 years!

Another standout result on the day was the auction of 4 Walnut Road in Balwyn North which sold under the hammer for $975,000 – a huge $125,000 over reserve. A local family will subdivide and build two side by side homes. Director and Auctioneer, Jason Salan notes that despite no reduction in interest rates, the market remains resilient with a steady clearance rate and good volume.

The REIV expects over 900 auctions to be called this coming weekend. For all of Fletchers recent sales, visit our award winning website.

Don’t forget, White Ribbon Day 2012 is on Thursday, 22 November – a day when the Boroondara community stands up and pledges their commitment to stamp out violence against women and girls. Click for more details.

Our photography competition is also coming to an end soon, so get your entries in for the opportunity to showcase your talents on the Summer Edition of our Places magazine! We are looking for photos that capture an Australian Summer. For more details click here.

We hope you enjoy the rest of your week!

Tim Heavyside_45 Milton St, Nunawading
Tim Heavyside with his vendor & purchasers of 45 Milton Street, Nunawading.