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Fletchers Group News Update – 21 November

November 20th 2012

The REIV recorded a clearance rate of 65 per cent on the weekend, compared to 59 per cent for the same weekend last year. The market is certainly showing signs of improvement this spring and the REIV expects over 900 auctions to be called on each of the next two weekends.

Fletchers began the day with the auction of the meticulously renovated four bedroom home at 14 Holland Road, Blackburn South. The stunning visual impact created by the home was evident, and three bidders were involved until the home sold for $850,000.

A standout result was the sale of 35 Kenny Street, Balwyn North which attracted five bidders and sold for $1.3 million. The original 1950’s home on approximately 917 sqm offered opportunities to renovate, extend or develop (STCA) within the prestigious Balwyn High School zone.

More exciting prospects in the Balwyn High School zone were on offer, with number 14 Kenny Street scheduled for auction on the weekend. The three bedroom, 1960’s family home on approximately 669 sqm was sold before however, for an undisclosed amount.

The appealing three bedroom, Californian Bungalow at 58 Warrigal Road, Surrey Hills boasted and easily managed block of approximately 461 sqm and an enviable location minutes from tram, train, local shops, primary schools and Wattle Park. A total of seven bidders competed to secure the opportunity to modernize the charming, comfortable home. It sold for $625,000.

The iconic three bedroom plus study Fasham Johnson home at 2/35 Kennealy Street, Surrey Hills certainly reaped the rewards of an excellent marketing campaign, culminating in a sale price of $946,000. The vendor was thrilled, noting that his agent, Gail Logan’s work in marketing the property was “exemplary”.

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

In other news, Australian households could be in for an early Christmas present with the Reserve Bank of Australia hinting at a possible rate cut for December.

We hope you enjoy the rest of your week!

18 Yongala Street, Balwyn North
Director Jason Salan calling the auction at 18 Yongala Street, Balwyn.
(Photo courtesy of James Market News)