Market Update | 12 & 13 August 2023
Over the weekend we saw the typical Melbourne ‘four seasons in one day’, with Saturday morning starting off with what felt like a chilly Autumn morning, then some beautiful breaks of Spring-like sunshine which made us dream that it was practically Summer, until reality set in the afternoon and the dreary grey sky came to stay, along...
Jeremy Desmier in Market Updates
Market Update | 5 & 6 August 2023
We saw signs of positive momentum over the weekend, with an impressive 75% clearance rate (Fletchers Group reports 78%). This steady rate indicates a sense of stability, as most properties are being sold at or just slightly above their reserve prices. As we have previously discussed, experts predict a more balanced market to emerge in the near...
Jeremy Desmier in Market Updates
Market Update | 29 & 30 July 2023
Melbourne leads in auction activity this week, defying the typical seasonal lull with a strong 24.4% increase compared to the previous week. A total of 846 homes were recorded as being put up for auction across Victoria, with the Fletchers Group achieving an impressive 78% clearance rate, aligning closely with the state average of 76%. In the...
Jeremy Desmier in Market Updates
Market Update | 22 & 23 July 2023
This past weekend showed a little more hesitancy across the board, with lower clearance rates reported in most of our suburbs. Conflicting pricing predictions and limited housing supply have made it difficult for people to make important home decisions, but brighter news may be ahead! With REA reporting on whether ‘borrowers may have...
Jeremy Desmier in Market Updates
Market Update | 15 & 16 July 2023
The end of school holidays across Victoria saw auction volumes rise again, with the preliminary capital city clearance rate holding above 70%. Mortgage holders enjoyed a welcome reprieve this month, with the Reserve Bank's decision to hold interest rates steady for the second time this year. PropTrack senior economist, Paul Ryan, said...
Jeremy Desmier in Market Updates
Market Update | 8 & 9 July 2023
Low stock levels, increased demand, and intense competition at auctions are driving a gradual appreciation in house prices. With multiple bidders vying for limited properties, many motivated buyers are making pre-auction offers to secure their desired homes. June saw a success rate above 90% at Fletchers auctions, with prices often exceeding their...
Jeremy Desmier in Market Updates
Market Update | 1 & 2 July 2023
Have you ever been to an auction in Melbourne? If so, you know how electric it can get when several buyers and sellers are vying for the same property. This past weekend, Melbourne's weather seemed to add to the chaos by forcing most auctions indoors. Despite the weather conditions, buyers didn't mind coming out to purchase their dream...
Jeremy Desmier in Market Updates
Market Update | 24 & 25 June 2023
Despite a decrease in the number of homes going to auction, our Fletchers Group achieved yet another 100% clearance rate, again outperforming the industry standard. The Melbourne property market m bay have been volatile over the past year, but many signs point to balance returning. The dip in auction numbers is due to the June school holidays...
Jeremy Desmier in Market Updates
Market Update | 17 & 18 June 2023
Melbourne saw a steady 863 homes auctioned across the city this weekend, with our group achieving a 93% auction success rate, off the back of a remarkable 100% last week. Melbourne has emerged as the busiest auction market, with the winter season bringing success to many of our clients across our networks with big crowds, solid bidding and strong...
Jeremy Desmier in Market Updates
Market Update | 10 & 11 June 2023
While the Australian winter may have brought on a freezing weather spell, Melbourne came alive this June long weekend celebrating both the ‘Big Freeze’ and another successful auction weekend. In Fletchers news, all 8 of our properties listed for sale over the June long weekend were successfully sold, marking 100% success rate. Amid...
Jeremy Desmier in Market Updates
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