2023 Market Wrap & Looking Ahead to 2024
As another year draws to a close, it is interesting to look back and reflect on what happened in the property market over the last twelve months and look ahead and consider what 2024 may have in store. The strength and pace of Australia’s market rebound was a surprise to many in 2023, particularly given the consistent interest rate rises...
Sarah Lowry in Market Updates
Market Update | 16 & 17 December 2023
We finally saw an end to the recent wet weather on the last auction weekend of the year! Just over 1,000 auctions were scheduled across Melbourne, with the Domain Group recording a clearance rate of 59%. In Doncaster, we saw four bidders compete to secure the large, single-level home at 4A Marshall Avenue. On its own title, the home...
Jeremy Desmier in Market Updates
Market Update | 9 & 10 December 2023
As we inch closer to the end of the year, Melbourne experienced another weekend of wet weather, forcing most auctions indoors. This didn’t deter buyers however, particularly after a pre-Christmas reprieve from the Reserve Bank, with interest rates left on hold at their last meeting of 2023. Over 1,000 auctions were schedule in...
Jeremy Desmier in Market Updates
Market Update | 2 & 3 December 2023
The start of the summer season felt more like a winter’s day on Saturday, with unrelenting rain forcing most, if not all, auctions indoors and undercover. Whilst the weather conditions weren’t ideal, it didn’t seem to deter buyers, with the Fletchers Group achieving an 84% clearance rate for our clients. In Nunawading, five...
Jeremy Desmier in Market Updates
An Office to Call Home | Bundoora Grand Opening
We are thrilled to announce the official opening of our newest office in Bundoora. Led by leading agent, Tim Yu, the Fletchers Bundoora office is an exciting addition to our 103-year-old business. Located in the vibrant Polaris shopping centre and close to La Trobe University, our modern and bright office offers residents in...
Prue Fletcher in Market Updates
Market Update | 25 & 26 November 2023
On the last weekend of November, before summer and the festive season arrives, the Domain Group reported that over 1,000 properties were scheduled to go under the hammer. The Fletchers Group was thrilled to achieve an 87% success rate for our clients, compared to the 56% recorded by Domain. The increase in auction volumes across the country has...
Jeremy Desmier in Market Updates
Market Update | 18 & 19 November 2023
The REIV reported a clearance rate of 73% on the weekend, compared to 64% at the same time last year. We are approaching the end of the year at a rapid pace, with just four auction weekends left for 2023. Many buyers are still keen to secure a property before the end of the year, with strong competition seen for several properties. Over the...
Jeremy Desmier in Market Updates
Market Update | 11 & 12 November 2023
Auction activity was back after a quiet weekend due to the Melbourne Cup unofficial long weekend, although we did pause at 11am to observe a moment of silence for those who died in wars and conflict for Remembrance Day. A rise in new property listings in October has left buyers with more choices ahead of the holiday season, as many look...
Jeremy Desmier in Market Updates
Market Update | 4 & 5 November 2023
It was a quieter auction weekend due to the Melbourne Cup public holiday on Tuesday, although there were plenty of buyers out and about at open for inspections, enjoying the sunshine. The REIV reported a clearance rate of 68%, on a very low 268 auctions reported. The Art Deco, three-bedroom home at 14 Inverness Way in Balwyn North located in...
Jeremy Desmier in Market Updates
Market Update | 28 & 29 October 2023
The final auction weekend of October was a super one, with the REIV expecting approximately 1,870 auctions to be called. In fact, the Domain Group reports that it was the biggest auction week of the year, with a preliminary clearance rate of 67% recorded. Agents have commented that confidence from buyers is still up, despite predictions of...
Jeremy Desmier in Market Updates
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