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Fletchers Group News Update 27 July

July 27th 2015

Although the morning started off with some sun, it turned out to be quite misleading as the cold and windy weather soon set in!

The REIV recorded a clearance rate 79%, with 671 auctions reported and 531 of those selling. A number of Melbourne suburbs have recorded annual capital growth of more than 20%. These include Mount Waverley (28%), Doncaster (28%), Burwood (27%) and Balwyn North (23%).

Fletcher eastern suburbs offices recorded a success rate of 71%, with multiple bidders at many of the auctions despite the cold wind!




Sitting on the high side of a tree lined street, 48 Haig Street in Box Hill South is all about family and lifestyle. The double storey weatherboard home embodies family perfection, offering four bedrooms, a ground floor dedicated to living and entertaining with formal lounge, dining and an open plan kitchen fitted with stainless steel appliances. The big backyard with open air deck and paved alfresco area are under the canopy of a beautiful Liquidamber tree. The auction saw seven bidders hoping to secure the property, which easily reached over reserve by $215,000 – selling for a fantastic result of $1.415 million!

Packed with potential, 15 Bermuda Drive in Blackburn South offered an exciting new chapter for its new owners. In a quiet pocket, the modest three bedroom home is perfectly positioned close to schools, transport and parkland. Positioned on block of 588 sq m, the home is in original condition, providing a base for an inspirational extension and renovation, or even the site for a stunning new residence (STCA).  This property gained a lot of interest with its exciting potential. There were six bidders competing for the property, which sold for $920,000…a great result for all involved.

In Ashwood, 2/5 Gubbah Court was also up for auction. The well maintained, single level unit has a three bedroom floorplan that is well balanced by sunny and spacious casual living and dining, with a well appointed kitchen. The large, private courtyard offers a perfect outdoor entertaining option. In a private and tranquil setting, this unit is located close to range of amenities such as schools, parks and transport. With wide buyer appeal, first home buyers, couples, downsizers and young families were amongst those hoping to secure the property. The auction saw four bidders eager to purchase and, with the bidding easily reaching our vendor’s reserve, the property was sold for $780,000.

Also in Glen Iris, the clinker brick home at 12 Hortense Street is perfectly positioned in a well regarded street, within the sought after Summerhill Estate. The three bedroom period home has original detailing throughout, impressive formal living and dining with an open fireplace and leadlight accents. Packed with potential, there is opportunity to further update, extend or reinvent. Auction day saw much of the crowd shivering throughout the auction. Auctioneer Karl Fitch opened the bidding, and was met immediately by another bid. Two bidders went back and forth before bidding came to a standstill. With the property on the market another bidder joined in, and a fourth and final bidder also made an attempt to secure the property. The initial bidder was reluctant to give up; with their final bid the property was sold!

Further east, 26 Mint Street in Wantirna went under the hammer. Sitting a in a quiet court-like location, the generous allotment of 971 sq m seemed almost too good to be true. The prefect site for a new home or multi unit development, 26 Mint Street attracted the attention of many potential purchasers. The existing three bedroom home with living/dining, family room and open kitchen also offered the opportunity to renovate or extend. Auctioneer Michael Richardson got proceedings underway and bidders were quick to get started. Five parties were fiercely competitive, with the property ultimately selling for $765,000.

Also offering exciting potential for renovation or the opportunity to build a dream new home was 12 Cheeseman Street in Croydon. Nestled in a leafy precinct, the four bedroom home boasts a block of approximately 1,257 sq m, a self contained unit, sunny formal and informal living zone and an entertainer’s deck. The charming residence went under the hammer, with three bidders were hoping to secure the property, which eventually sold for $630,000.

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

Congratulations to Fletchers agent Michael Richardson who participated in The Age Run Melbourne on Sunday. He completed his first half marathon in 1 hour and 43 minutes. A great effort!

To celebrate National Netball Day on Saturday, the Whitehorse Netball Association had a special visitor! Kate Moloney of the Melbourne Vixens popped in to give our young stars some tips.

Enjoy the rest of your week!

Fletchers Steven Zervas being chased by prospective first home buyers!