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Fletchers Group News Update – 31 July

July 31st 2013

It was a gorgeous day in Melbourne on Saturday and the fine weather, combined with a number of stellar properties on offer, brought out the crowds for auction day. The REIV recorded a clearance rate of 70 per cent, compared with 59 per cent at the same time last year.

The median house price figures for the June quarter were also released, posting a 2.4 per cent increase and particularly strong growth seen in Hawthorn East, Glen Iris, Malvern East and Kew. The REIV notes that the figures should encourage more sellers into the market over spring, as it shows that the price falls recorded in 2011 have been recovered. 

Fletchers solid performance under the hammer continued, with an 88 per cent clearance rate. The most outstanding sale was at 69 Gordon Street in Balwyn, a four bedroom family home offering opportunities to renovate, extend or redevelop (STCA) on approximately 793 sqm with a north facing rear. A crowd of nearly 500 people watched as bidding quickly moved from $1 – $1.4 million, with nine participating bidders. Three strong bidders remained until the home was eventually sold for a whopping $1.81 million! Agents Mark Fletcher and James Bateman were thrilled for their 70 year old vendor whose dream price was exceeded by over $400,000!

 Troy Nelson from our Whitehorse Office also had a fantastic auction and result on the weekend, at the impressively renovated 14 Wavell Street in Box Hill. Four bidders saw the price reach $1.23 million, a result which thrilled the vendors, who were most impressed by not only the outcome but the service from Troy.

 The delightful four bedroom home at 579 Middleborough Road in Box Hill North also attracted quite a crowd, as well as a total of seven bidders! Auctioneer Michael Richardson conducted a lively auction and the property was declared sold at $725,000 – well above reserve. 

The 1940’s red brick veneer home at 312 Warrigal Road in Glen Iris attracted six bidders, which is unsurprising considering the appeal to first home buyers and downsizers. Offering comfortable living spaces and an updated kitchen, the home sold for $631,000. 

Daniel O’Regan from Fletchers Diamond Valley auctioned the renovated family home at 10 Ti Tree Court in Viewbank, selling the property under the hammer for $700,000. His lovely vendors presented the home impeccably throughout the campaign, and even had yummy chocolate and lollies on offer for auction day! 

The day ended with the auction of 12 Millicent Avenue in Balwyn North, which saw six bidders push the eventual sale price to $1.469 million – in excess of $200,000 above reserve! The property offered exciting redevelopment potential (STCA) on a generous allotment of approximately 948 sqm.

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

Big congratulations to our fabulous team at Fletchers Whitehorse, as they celebrated their one year anniversary this week. Led by innovative Directors Rob Sheahan and Ben Williams, the office is a thriving one and is well located in the heart of Blackburn. Well done to the team and there will surely be many more years to come! 

Next week, the REIV expects around 580 auctions to be called. Keep up to date with Fletchers latest news and information on Facebook, Twitter and LinkedIn. 

Enjoy the rest of your week!


Fletchers Whitehorse Director, Ben Williams conducting an auction.
(photo courtesy of James Market News).