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Fletchers Group News Update – 5 March

March 5th 2012

It just wouldn’t be Melbourne without a drastic weather change from week to week! After the sweltering conditions the previous week, it was time for everyone to head indoors for the auctions held last weekend, as the rain fell steadily throughout the day.

In fact, the wet weather seemed to encourage more bidders, with several Fletchers auctions attracting multiple bidders and some extra competition. The auction clearance rate recorded this weekend was 62 percent, indicating that the improved demand recorded last weekend has been sustained, which will help to improve confidence over autumn and into winter. Fletchers Director, Tim Heavyside confirms this trend, noting that over the last 2-3 weeks activity at both opens and auctions has picked up. Tim believes that now is a good time to get into the market, so that you don’t miss the boat on a good time to buy. Properties in Melbourne’s east, within 18km of the city are considered to be particularly desirable.

A crowd of about 75 sheltered inside 16 Somerville Street, Doncaster as Tim Heavyside auctioned the property, which backed onto the Eastern Golf Course. The golf course was recently bought for redevelopment, posing a question of concern from the crowd and ensuring that the auctioneer was on the ball! Tim was well-prepared, as always and ironically, the purchaser turned out to be the chap who had asked the question!

2 Sylvander Street, Balwyn North attracted multiple bidders and a huge crowd inside watched the property sell under the hammer – $160,000 over reserve. Gail Logan noted that the appeal of the three level home was its original condition and well-maintained gardens on a corner block of 1,121 sqm, attracting both families and developers. Gail experienced the increasingly high level of buyer demand at the first weekend of opens at 37 & 39 Laurel Grove, Blackburn with over fifty groups recognising the appeal of Blackburn’s Bellbird area.

Next weekend is the Labour Day long weekend in Victoria, but there are still auctions and plenty of open for inspections being conducted…lets just hope we don’t have such extreme weather!

Enjoy the rest of your week!

2 Sylvander Street, Balwyn North

2 Sylvander Street, Balwyn North – this property attracted multiple bidders and a huge crowd on auction day.