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Fletchers Group News Update – 26 June

June 26th 2012

Melburnians quite literally got a bit of a shock last week, as we were rocked by the largest earthquake in 100 years. The tremor reportedly measured 5.3 on the Richter scale, and rattled windows, shook roofs and rocked floors in Victoria and surrounding states. It struck at about 8.55pm local time for around 30 seconds, and got #Melbquake and #earthquake trending on Twitter!

There were no great shakes in the auction result department (pun intended!), with the REIV recording a clearance rate on the weekend of 56 per cent (the same as last weekend).

James Bateman and Mark Fletcher achieved another great result, with six bidders in hot contention at 5A Northcote Avenue, Balwyn. Auctioned in front of a crowd of over 100 people, the property represented the culmination of a great campaign and was another great result for Fletchers. James, Fletchers Senior Associate and Auctioneer, said that demand for single level properties is strong, attracting first home buyers, downsizers and investors.

Two bidders slugged it out at the auction of 75 Earl Street in Kew, which saw the derelict house, marketed by Mark Salvati, finally sell for $1.115 million. In the same family since the vendor’s grandfather built it in 1923, the house is on a 1,067 sqm block and destined for demolition and redevelopment. Director and Auctioneer, Tim Fletcher, said that buyers in the inner-east were paying a premium for sites with easy-to-demolish old houses.

Fletchers Eltham have had great success recently in the North Warrandyte market, with outstanding sales at 5 Danita Drive sold by private sale for $1.44 million, and 118 Bradleys Lane selling for $1.37 million at auction in May. 9 Bradleys Lane also sold just last week, before auction for $1.08 million. Senior Associate, Chris Chapman, notes that the team is finding strong interest in North Warrandyte properties at the moment, provided the homes are marketed well to ensure that as many buyers are reached as possible.

In other news, we have launched our fifth recipe card…teriyaki duck kebabs by popular Japanese restaurant, Ocha. Download it here.

Have a great week!

 Melbourne Earthquake
Melbourne’s biggest earthquake in 100 years was marked with a little humour, courtesy of social media!