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Fletchers Group News Update 23 February

February 23rd 2015

Temperatures soared over the weekend in Melbourne but that wasn’t enough to stop buyers heading out to auctions! While the heat steadily increased throughout the morning, it was fantastic to see that the crowds didn’t dwindle, with many exciting auctions still taking place in the afternoon.

In the first major auction weekend of 2015, there were 826 auctions held with the REIV recording a clearance rate of 76%. Fletchers again performed well under the hammer across the eastern suburbs, posting a success rate of 77%. The REIV expects that almost 3,000 homes will be auctioned by the end of the month – 500 more than February last year.

It was a busy auction at 10 Heather Grove in Kew for Fletchers Auctioneer Reilly Waterfield, with a crowd of more than 100 people in attendance. With the location, charm and potential to become a brilliant family home, the original double brick Art Deco property generated a lot of interest from potential purchasers. Reilly kept his cool despite the heat, with competitive bidding from seven parties ensuring that the property was on the market within a few minutes. The eventual sale price was well above reserve, a fantastic result for our vendors.

The light-filled and tidy home at 7 McClares Road in Vermont was also up for auction, offering buyers a wealth of potential to renovate, extend or even rebuild, with its sunny level gardens. Its location within the Vermont Secondary College zone was a factor in attracting plenty of interest in the comfortable three bedroom home. The auction saw seven bidders hoping to secure the property, pushing the selling price to $870,000 – an impressive $170,000 above reserve!

The rear unit in an allotment of two, 2/5 Newbigin Street, Burwood was appealing to downsizers, first home buyers, families and investors. The light-filled unit offered potential buyers four generous bedrooms, a well appointed kitchen/meals/family area that is bathed in sunshine and an undercover alfresco  area – perfect for entertaining! As proceedings got under way, it was clear to the large crowd that it was going to be an energetic auction, with six main bidders taking control. The property sold for an impressive $785,000, a huge $185,000 over reserve.

In Box Hill South, the opportunity to renovate, extend or redevelop the property at 31 Haig Street ensured that a fantastic result was achieved. In a sought-after lifestyle location with a wealth of amenities close by, five bidders competed until a price of $1.02 million was reached. An excellent outcome and exciting to see what the new owners will do.

On the Mornington Peninsula, Fletchers Blairgowrie Director and Auctioneer, Joshua Callaghan and his team had a busy day with a few auctions scheduled. The successful auction of the original beach home at 39 Dundas Street in Rye was just one of the sales achieved. Located approximately 600 metres to all that Rye Foreshore has to offer, it is no wonder that it held great appeal to buyers. The vendors were thrilled and after calling auctions all day in 38 degree heat, Josh made the most of the office location and headed to the beach!

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

Fletchers is proud to be supporting the Parkhill Primary School Twilight Fair this weekend. From performances to pony rides, a raffle and silent auction with fantastic prizes, there will be plenty of activities the whole family can enjoy whilst raising money for a great local school. Head down to Parkhill Primary School in Ashburton from 2pm this Saturday, 28 February for a great afternoon full of family fun. For more information visit: See you at the Fair!

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

Enjoy the rest of your week!

Enjoy your week! 

Reilly Waterfield and Jack Peng with the happy vendors and purchasers
of 10 Heather Grove in Kew.