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Fletchers Group News Update 24 November

November 23rd 2014

It was a warm auction weekend in the Eastern suburbs but in true Melbourne style, the sunny weather hasn’t lasted long. Despite beginning the week with rain and thunderstorms, it won’t dampen the team at Fletchers as we get ready for another big week!

The REIV recorded a 67% clearance rate over the weekend. With 1,073 auctions called, 720 were sold and 353 were passed in. The next two weeks will be a busy period for real estate with 3,100 auctions scheduled to be held between November 29 and 7 December.

It was an exciting weekend for Fletchers Eastern suburbs offices, recording an impressive 83% clearance rate. Fletchers had 24 auctions scheduled for the weekend – 19 properties were sold (four of those prior to auction) and only five were passed in.

Up for auction on Saturday was the magnificent weatherboard home located at 12 Larch Street, Blackburn. This single level, four bedroom home offered potential buyers three living areas, including an upstairs rumpus/theatre room, paved alfresco area and established vegetable garden. It was a busy auction for Fletchers Director Ben Williams, with six bidders hoping to secure the property. It achieved a great price at auction with some very happy purchasers.                                         

The recently renovated 1/16 Karwitha Street in Vermont also fared well under the hammer. This weatherboard family home offers three bedrooms, home office, stylish kitchen and sunny alfresco area. Buyers were keen to snap up this low maintenance home, with six bidders competing for the property. The home eventually sold for $660,000 – a pleasing result for all involved.

In another great result for the area and Director Tim Heavyside was the auction of 12A Bona Vista Avenue, Surrey Hills. This double storey home located in a prized cul-de-sac features three bedrooms, light filled living zones, timber deck and a charming garden. There were three bidders eager to call this elegant residence their home. The property sold for an impressive $1.175 million.

Proving its appeal once again, a family outbid developers at the auction of 19 Dight Avenue, well located within the Balwyn High School zone. Bidding was split between two families and two developers, but it was a local family that paid a premium to secure the home. Post auction, Jeremy Desmier noted that many people worry about bidding against developers, however he said that it’s important to keep in mind that for developers it is all about a profit margin – so it often doesn’t make sense for them to keep bidding. The property ultimately sold for $1.535 million – an impressive $85,000 over reserve.

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

Over the weekend members of the Fletchers team took part in the Walk4BrainCancer at Central Park in Malvern East. A cause close to the heart of many Australians, the morning walk helped to raise over $127,000 for brain cancer research. What a wonderful fundraising effort by everyone that took part!

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

Enjoy your week!

Fletchers Agents Mark Salvati and Tim Heavyside with the happy vendors and purchaser
of 12A Bona Vista Avenue in Surrey Hills.