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Fletchers Group News Update – 7 August

August 7th 2013

Election speculation and wintry, rainy conditions did not deter buyers on the weekend, with strong numbers again at auctions and many properties attracting multiple bidders. 

The REIV recorded a clearance rate of 75 per cent on the weekend, compared to 60 per cent on the same weekend last year. Fletchers continued to perform strongly, achieving an above average clearance rate of 88 per cent. 

After a month of speculation, the Reserve Bank of Australia has decided to cut the cash rate by 25 basis points, to a historic low of 2.5 per cent. Four major banks will cut variable interest rates following the RBA’s decision. 

Superbly located in a desirable pocket of Balwyn, the two bedroom unit at 2/9 Grey Street attracted a large crowd on auction day that included five bidders! Offering generous living and bedroom spaces, a bright kitchen and in a prime location near trams, shops and schools, it is not hard to see why it proved so popular. Auctioneer Jason Salan declared the property sold at $525,000 – well above reserve and a fantastic result for our vendors. 

Traci Stella and Tim Heavyside also achieved a great result at 23 Orchard Crescent in Mont Albert North, which sold under the hammer for $830,000. Five bidders competed for the opportunities available to renovate or redevelop (STCA) the post-war, weatherboard home. 

Tim was also thrilled with the result of the auction at 1/1075 Riversdale Road in Surrey Hills. His lovely vendor Sani had done an excellent job of presenting the home throughout the campaign and achieving a sale price of $742,000 was the perfect way to end it!

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

Fletchers were thrilled to be announced as finalists for the Inaugural Real Estate Business Awards, for Best Network under 100 Offices, Best Web Presence and Best Property Manager (Director Andrew Paterson).

Next week, the REIV expects around 620 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!

23 Orchard Crescent, Mont Albert North
Tim Heavyside & Traci Stella with their vendor and purchaser of 23 Orchard Crescent.