27th February 2013 / Jeremy Desmier: Fletchers Group News Update – 28 February

The REIV recorded a clearance rate of 73 per cent on the weekend, compared to 57 per cent on the same weekend last year. Confidence in the market is building, evidenced by the continued increase in the number of prospective buyers at opens and auctions.

Fletchers conducted a number of highly successful auctions on Saturday, with a handful of particularly impressive results in Balwyn and Balwyn North. Leading from the front, Balwyn North Director and Auctioneer, Jeremy Desmier, sold four out of four properties in the area under the hammer.

The elevated and spacious four bedroom home at 11 Stroma Avenue, located in the Balwyn High School zone, was declared sold at $976,000 above a reserve of $900,000. Five bidders competed for the opportunity to purchase the ideally located family home.

Prime development sites in the leafy area are obviously in high demand, with several bidders in attendance at the auctions of 50 Severn Street, 34 Birdwood Street and 171 Gordon Street. These properties all offered opportunities to renovate or possibilities as an impressive new home site (STCA).

The single level home at 2/47 Kawarren Street also attracted five bidders, selling for $615,000 above a reserve of $570,000. The purchaser and her daughters were extremely excited about buying their new home and can't wait to move in!

The terrific period features of the Edwardian weatherboard home at 11 Myrtle Street in Canterbury combined with a potential to restore, renovate and extend (STCA). With around 80 in the crowd, five bidders participated in a long, drawn out auction which culminated in a great sale price of $1.255 million.

Also in Canterbury, the warm and inviting three bedroom unit at 3/163 Prospect Hill Road attracted a crowd of around 60 and four bidders. With an initial bid of $570,000 the property was on the market at $635,000 and sold under the hammer for $652,000.

The upcoming weekend is also scheduled to be a bumper auction Saturday, due to the Labour Day long weekend the following week. We hope to see you out and about at open for inspections and auctions!

The purchaser of 2/47 Kawarren Street and her daughters after the auction.