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Fletchers Group News Update – 27 March

March 27th 2013

The REIV recorded an auction clearance rate of 68 per cent on the weekend, compared to 59 per cent on the same weekend last year. Considering the high volume of auctions (over 1,000 reported), the REIV noted that the result demonstrates the underlying strength of the market currently as the outcome is consistent with this year’s trend.

Fletchers achieved a pleasing success rate of 85 per cent with Executive Chairman, Tim Fletcher noting that the 2013 market was “shaping as a very different one to last year’s”.

A standout result on the weekend was for the architect-designed, two bedroom plus study, single level home at 28 Scott Street in Kew. Fifty people attended the auction and seven people bid. Auctioneer Jeremy Tyrrell declared that there would be “no half-time break” and put the property on the market at $1.3 million. The home was knocked down to a persistent couple bidding, who won the day with a bid of $1.505 million. As agent Belinda Anderson noted: “great house, great campaign and a great result”! 

Fletchers Whitehorse Director, Rob Sheahan, sold the spacious four bedroom family home at 6 Worrell Street in Nunawading for $634,500. After 51 years in the same home, his vendors were thrilled that the property sold $36,500 above reserve! 

Auction day on what was signaled by the REIV as the fifth biggest on record, boasted several properties attracting multiple bidders and many that sold over reserve. 2 Warwick Street in Box Hill North attracted an impressive seven bidders and sold $40,500 above reserve. 

The single level villa unit at 3/16 Weybridge Street in Surrey Hills saw six bidders compete for the opportunity to secure the large refurbished property at the rear of only three units, in a fantastic location close to trams, trains, shops, cafes and schools. The property sold for an impressive $52,000 above reserve. 

Fletchers Director, Tim Heavyside showed why he was acknowledged as the 2013 Australian Residential Agent of the Year, selling six out of six properties he had up for auction. 160 Canterbury Road in Blackburn South sold for the exceptional price of $616,000 above a reserve of $495,000. Eight bidders pushed the price up as they competed for the opportunity to own the modernised and well maintained four bedroom family home. 

For all of Fletchers recent sales, visit the Fletchers website

Fletchers was the major sponsor for The Balwyn Primary School ‘Carnival of Colours’ on the weekend which we are pleased to report was a great success, with over $30,000 raised which will go a long way toward many needed items and improving the learning environment for the young students. 

Enjoy the upcoming Easter break!

Tim Heavyside, Fletchers Director & Auctioneer
Auctioneer Tim Heavyside in action at 1/23 Weir Street, Balwyn with colleague Thomas Lo.