March 30th 2015
We woke up to a chilly morning on both days over the weekend, but all was soon forgotten with the sun thawing us out as auctions got underway. The weekend ended perfectly with a sunny afternoon to enjoy as we head into a short week due to the Easter break.
The REIV reported a clearance rate of 79% over the weekend, with 1,291 auctions reported. The annual clearance rate is currently sitting at 77%, which is the highest it has been since 2010.
The Fletchers Group had a busy weekend, with over 30 auctions scheduled. We have continued to produce clearance rates well above the state average, achieving a 100% clearance rate! It is a fantastic result to finish off what has been an exceptional March in real estate.
In Burwood East, 32 Sevenoaks Road went under the hammer. In a desirable precinct, the three bedroom residence is located on a quiet allotment close to schools, transport and shops. With the option to renovate, design and construct a stylish extension or build a brand new luxury home, there was plenty of interest throughout its marketing campaign. Fletchers Directors Tim Heavyside and Ben Williams got the auction underway, with nine eager bidders quickly showing their interest. The property sold for $958,000, and impressive $258,000 over reserve!
The Edwardian charm of 22 Munster Avenue in Carnegie drew a crowd come auction day. The period home has been beautifully renovated and extended offering five bedrooms, sleek contemporary kitchen, expansive living and entertaining options including an undercover alfresco terrace and swimming pool. The auction saw four bidders captivated by the property, with it reaching an overwhelming final result of $1.88 million!
Offering a promising future, 18 Margaret Street in Box Hill is a well preserved residence on a generous allotment of 729 sq m, providing a golden opportunity to renovate or redevelop. Within walking distance to shops, schools and restaurants, the centrally located home had seven competitive bidders looking to secure the property. It wasn’t long before the bids reached well over our vendor’s reserve, with the property eventually selling for $1.310 million; a great result for both vendors and purchasers.
In Surrey Hills, 4 Lambourne Street sold prior to auction, whilst both 57 Croydon Road and 5/5-7 New Street proceeded to auction. The auction of the elevated Edwardian home at 57 Croydon Road was certainly a highlight, achieving an overwhelming $293,000 over reserve.
Fletchers success continued through to Sunday as Director and Auctioneer Tim Heavyside called the auction of 23 Eley Road in Blackburn South. The renovated three bedroom residence is abundant in natural light and ideal for a growing family. French doors connect the large living zones with a huge covered deck and leafy garden. The auction drew a large crowd of interested buyers, with strong competition between nine bidders, who all fought to call this property home. Selling for $228,000 over reserve, both our vendors and purchasers were extremely pleased with the sale price of $1.028 million. A great result to finish off busy weekend of auctions!
For all of Fletchers recent sales, visit our award-winning website.
The Easter long weekend is quickly approaching and will be a welcome break from our usual Saturday that is normally filled with auctions. There will still be a number of open for inspections, so if you’re on the hunt for your dream home, you may just find it this weekend!
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Enjoy the rest of your week!