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Fletchers Group News Update – 31 October

October 30th 2012

‘Super Saturday’ certainly lived up to its name as the day with the highest volume of auctions on a single day since 2010. Nearly 1,000 auction results were reported to the REIV, who recorded a 66 per cent clearance rate.

Interestingly, on the same weekend last year the clearance rate was just 50 per cent from 423 auctions. REIV spokesman Robert Larocca described it as “a healthy result and certainly not below the trend for the year”.

Fletchers achieved a success rate of 82 per cent, with Executive Chairman Tim Fletcher describing Saturday as “typifying many of the weekends in 2010 when the market really skyrocketed…it’s not skyrocketing at the moment, but it is very healthy”. Tim further noted that those properties that do pass in are almost always selling within two or three days of the auction.

Some of the highlights on ‘Super Saturday’ included the auction of 31 Warburton Road in Canterbury which, after an excellent marketing campaign by Jason Salan and Tim Heavyside, sold for $1.7 million under the hammer. The vendors had done a magnificent job in transforming the Edwardian home with compelling contemporary vision whilst retaining the beautiful period features. It certainly drew a large crowd!

With five bidders involved and the property selling under the hammer, the successful campaign of 1/4 Dale Street in Balwyn represented a great team effort by Tori McGregor from our Balwyn North Office and Jonathon Shepherd from Smart House Property Services. The recently updated, single level villa unit attracted professionals, empty nesters and investors due to its ideal location close to schools, shopping and transport.

Beautifully positioned on a corner opposite Princes Park, the renovated and extended Edwardian home at 68 Bowen Crescent in Carlton North also attracted five bidders. The three bedroom plus study home sold well above the reserve price, declared ‘sold’ at $1.65 million…a great result!

With elevated development potential (STCA) and its desirable position, views and generous land size, 8 Darryl Street in Bulleen generated plenty of auction buzz. A total of six bidders were in contention to secure the opportunity, with the property eventually selling for $795,000.

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

In other news, Fletchers are thrilled to advise that the 2012 REIV Residential Salesperson of the Year (Non-Principals), Jason Salan, has become a Director of Fletchers and head of our Manningham Office. As CEO Bradley Brown remarks, “to become a Director of Fletchers, you have to be a very special operator, and Jason is that in spades. He is the consummate professional estate agent”. Honoured and humbled by the opportunity, Jason says he “looks forward to the opportunity to provide further input and direction to ensure that the company continues to lead the way in world class real estate practices”.

Our thoughts and prayers are with the folks on America’s east coast as they face the clean up from Hurricane Sandy. For information on family there, contact 1300 555 130.

Enjoy the rest of your week.

Residential Salesperson of the Year (Non-Principals), Jason Salan
Fletchers newest Director, Jason Salan accepting his trophy at the 2012 REIV Awards.