Where is the property market at?
As Aussies across the country adjust to the news of another interest rate rise, it may surprise many that property prices are being reported as on their way up again. Even whilst in the grip of the COVID-19 pandemic, just two short years ago, Australia experienced a property boom of epic proportions. Amid the chaos of lockdown orders...
Sarah Lowry in Market Updates
Market Update | 3 & 4 June 2023
The start of the winter selling season saw 1,832 properties auctioned over the weekend across the combined capitals, with a state-wide clearance rate of 75.8% recorded in Victoria. The Fletchers Group was thrilled to achieve an 82% success rate for our clients. The REA Group reports that home prices across the country have risen again for the...
Jeremy Desmier in Market Updates
Market Update | 27 & 28 May 2023
Melbourne's real estate market has been buzzing with activity lately and the number of homes going up for auction each week is usually an important indicator of market health. We saw large crowds of potential buyers and onlookers at auctions over the weekend, demonstrating that there is still appetite to buy and also a lot of interest from...
Jeremy Desmier in Market Updates
Market Update | 20 & 21 May 2023
This weekend, our group achieved great success with a clearance rate of 87.5% - a figure again above the industry standard of 78% in Victoria. To illustrate, 82 Parer Street in Burwood sold with competitive bidding for $2,180,000 on Saturday. A staggering result with six families competing on the day. Auctioneer and...
Jeremy Desmier in Market Updates
Market Update | 13 & 14 May 2023
Melbourne saw a steady number of auctions this week with a total of 728, following the previous week's count of 719. The clearance rate for the fifth week running stood above 70% and impressively, Fletchers achieved a 100% clearance rate, selling all 10 auctions successfully on the day. Stock levels seem to be stable and recent initiatives...
Jeremy Desmier in Market Updates
Market Update | 6 & 7 May 2023
This week, Melbourne demonstrated its resilience with a continued high clearance rate despite the Reserve Bank's surprise decision to increase interest rates. As buyers again begin to realign with this shift, the number of properties for sale remains limited, however tight supply may be enough to prevent any serious disruption in market...
Jeremy Desmier in Market Updates
Market Update | 29 & 30 April 2023
As we head into the final month of Autumn, the real estate market has undergone some significant changes. Interest rates have been the primary factor responsible for these shifts, however market conditions are still proving positive as various other aspects are contributing to its growth. In this update, we will discuss the market dynamics that...
Jeremy Desmier in Market Updates
Market Update | 22 & 23 April 2023
The REIV recorded that 442 auctions were reported over the weekend, with the Victorian industry-wide clearance rate settling at 81%. The Fletchers Group was thrilled to achieve a strong 93% success rate for our clients, with a buzz of post-Easter buyer activity. In Vermont, the auction of the quality three-bedroom home at 8 Aubrey Street saw a...
Jeremy Desmier in Market Updates
Market Update | 15 & 16 April 2023
The property market paused for a moment over the weekend, due to the usual slowdown over the school holidays. The REIV reported that just 445 auction results were recorded. Whilst there were forecasts of national property prices falling 7-10% at the beginning of the year, the REA Group reports that the direction of the market would have to...
Jeremy Desmier in Market Updates
Market Update | 8 & 9 April 2023
The Easter long weekend saw the number of homes taken to auction significantly reduce, with just 660 properties going under the hammer across metropolitan cities. However, next week is set to bring a return in auction activity, with nearly 1,800 properties currently listed for sale across all capital cities. This marks an increase on last...
Jeremy Desmier in Market Updates
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