September 21st 2015
Spring was certainly in the air on the weekend, with the warmer conditions bringing big crowds to most of our auctions.
The REIV posted a clearance rate of 76% over the weekend with 931 auctions scheduled, 704 of those selling. The REIV reports that an estimated $18 billion worth of property has changed hands so far this year via the auction method of sale. This is up from 29% from this time last year – which is the highest figure on record.
Fletchers network of offices achieved a success rate of 78%, another strong result. The upcoming weekend is set to be extremely busy, with over 30 auctions scheduled prior to the quieter Grand Final weekend.
The stylish mid-century weatherboard at 45 Adolphson Avenue in Ringwood North was one of the first properties up for auction on Saturday. Set amongst lush established gardens, the three bedroom home offers contemporary interiors with a charming lounge and living room that overlooks the expansive deck designed for entertaining. At auction there were five eager bidders and the property reached $96,000 over reserve, eventually selling for $726,000.
The weatherboard home at 65 Baratta Street in Blackburn South is ideally placed, close to every necessity. The three double bedroom home also features a formal lounge, open plan family room, dining and modern kitchen with premium appliances. Only a stone’s throw from schools, shops and transport, this delightful home also offers an alfresco deck that looks across the beautifully presented, lush garden. The five bidders competing helped to push the price well over reserve, with the home selling for $1.056 million.
Nestled in a quiet cul-de-sac, 9 Dorene Court in Vermont South offers an enviable lifestyle for a family of any age. The inviting home is set amongst manicured hedge and topiary and boasts a spacious lounge with Jetmaster fireplace, bay window, open plan kitchen/living and three bedrooms. Outdoors a plumbed BBQ and paved alfresco area all take advantage of the northern sunlight that streams into the backyard. Drawing a large crowd, there were seven bidders keen to secure this as their new home. Bidding was competitive and reached $500,000 over reserve, the property selling for an overwhelming $1.6 million!
In Balwyn North, 348 Balwyn Road went under the hammer over the weekend. The inspiring potential of 348 Balwyn Road attracted a lot of interest from prospective purchasers. One of the largest homes on the market, it offers seven bedrooms, relaxing retreat, informal and formal living areas, as well as a spacious kitchen with stainless steel appliances. Sitting on a block of approximately 800 sq m, there is enormous opportunity to renovate, redevelop or even subdivide. Large crowds gathered in anticipation to see the outcome of this auction. Fletchers Director and Auctioneer Jeremy Desmier got the auction underway and there were soon six bidders hoping to secure the property. The property sold for a fantastic $2.351 million. A great result for all involved!
In Ashburton, 8 Shaw Street also went to auction on Saturday. In a highly sought after pocket of Ashburton, the large timber home sits on a block of approximately 1,185 sq m and offers potential for further renovation. The owner built home is comprised of three bedrooms, formal and informal living and a central kitchen with meals area. The auction drew a crowd of close to 200 people. It was an exciting, almost theatrical auction that was highly competitive amongst four bidders. Bidding reached $1.7 million before a knockout bid quickly took it to $1.9 million. The price continued to climb, eventually selling for $2.16 million – a record result for land per square metre!
For all of Fletchers recent sales, visit our award-winning website.
Fletchers is heading to New South Wales! We are looking forward to the opening of our newest office, Fletchers Wollongong on October 1.
Enjoy the rest of your week!