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Fletchers Group News Update – 14 October

October 14th 2014

The REIV recorded a clearance rate of 73% over the weekend, slightly lower than the 74% recorded for the same time last year. Fletchers achieved a success rate well above industry average, posting a final result of 83%! Melbourne’s auction numbers for the September quarter have broken the all-time record, finishing 15% higher than last year. 

We experienced great crowds and highly competitive bidding between prospective buyers at auctions on the weekend. 74% of Fletchers properties that sold had five or more bidders competing, this is a good indication of the level of competition in the current market.

A standout sale for the day was 22 Primrose Street in Blackburn North, which attracted an impressive eight bidding parties. The three bedroom, two bathroom home is perfect for families or downsizers, with shops, parks and transport just moments away! Auctioneer Ben Williams fielded highly competitive bids from the participating parties, who pushed the eventual selling price well above reserve!

Tim Heavyside had a great day under the hammer, selling four out of four of his properties scheduled for auction. A highlight for the day was the three bedroom, one bathroom home at 7 Langtree Court in Blackburn. A great crowd gathered, enjoying a free coffee before Tim arrived to get the auction started. It was easy to see that this home was popular, with six prospective buyers bidding in the hopes of securing the property. After a competitive string of bids, Tim declared the home sold for $1.153 million, a fantastic result for all!

The gorgeous weatherboard home at 1 Will Street in Blackburn was another exciting auction attracting multiple bidders! Owner occupied and renovated over the last 27 years, this home was ready to move in and enjoy immediately! Six potential buyers saw the appeal, with auctioneer Michael Richardson fielding a rapid spurt of bids which pushed this property’s eventual selling price well above expectations. The home sold for $771,000, a great result for managing agents Lachlan Williams and Michael, their vendors and the purchasers. 

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

Be sure to keep up-to-date with all of Fletchers latest news and information on Facebook, Twitter and LinkedIn.

Enjoy your week! 

Tim Heavyside with the vendor and purchasers of 51 Melrose Street Mont Albert North!