Market Update | 1 & 2 April 2023
There were 1,188 homes taken to auction across Melbourne this week, the busiest auction week since mid-December (1,226). We are excited to announce that the Fletchers Group achieved one of our highest clearance rates for the year so far, 82%! In Melbourne, Domain reports that the active bidders per property have risen to 2.8 in February and...
Jeremy Desmier in Market Updates
Number of Active Homebuyers Remains High
By: Shannon Molly, News Editor, REA Despite recent gloomy headlines about property market activity, new data shows the number of active homebuyers remains high – and they’re particularly eager to purchase in certain areas. Analysis by PropTrack of the search habits of potential buyers on realestate.com.au has shown...
Sarah Lowry in Market Updates
Market Update | 25 & 26 March 2023
Buyer activity was strong on another Super Saturday, with Melbourne’s second busiest auction day for the year seeing more than 1,100 properties go under the hammer. The Fletchers team achieved a group clearance rate of 77%, with our Whitehorse office achieving 100% for the third weekend in a row! Located in the Central Highlands of...
Jeremy Desmier in Market Updates
Market Update | 18 & 19 March 2023
Melbourne was the busiest auction market this week with auction volumes rising above 1,000 for just the second time this year. Last week, saw just 360 homes taken to auction, largely due to the public holiday while this time last year, approximately 1,525 auctions were held across the city. In property news this week, realestate.com.au shone a...
Jeremy Desmier in Market Updates
Market Update | 11 & 12 March 2023
Due to the Labour day holiday in Victoria, only 272 homes were put under the hammer, with a state-wide clearance rate of 70% being achieved. At its monthly meeting last Tuesday, the RBA board lifted the official cash rate by 25 basis points to 3.6% – its highest level since June 2012 and the 10th consecutive increase since last...
Jeremy Desmier in Market Updates
Market Update | 4 & 5 March 2023
Across Melbourne, it’s a tale of many markets. However, in the Eastern suburbs very low stock levels, the re-emergence of International money and wounded underbidders desperate to secure a home, is what’s driving the current momentum. We wait to see what the pre and post Easter market does in terms of listing levels, and if any...
Jeremy Desmier in Market Updates
Market Update | 25 & 26 February 2023
It was another weekend of strong auction activity with our group achieving a positive 76% clearance rate, whilst the Melbourne average sat at 69%. Approximately 721 homes were reported as having gone under the hammer (up 200 from the previous weekend). Selling particularly well is the upper end of the market, as well as both new or recently...
Jeremy Desmier in Market Updates
Market Update | 19 & 20 February 2023
In addition to beautiful sunshine over the weekend we saw multiple bidders, reserves being surpassed and industry clearance rates back up at 74% (the first time since April 2022 that Melbourne has had a clearance rate of over 70%)! Buyers are still being very much being fuelled by a ‘fear of missing out’ due to unseasonably low...
Jeremy Desmier in Market Updates
Market Update | 11 & 12 February 2023
This passing weekend saw Victoria’s busiest auction schedule so far in 2023 and just as we predicted last week, we saw an influx of home buyers competing as they made their move to secure a new home before any future rate increases, in the wake of the Reserve Bank’s recent decision. Over 400 properties were recorded to have gone...
Jeremy Desmier in Market Updates
Market Update | 4 & 5 February 2023
The rain may have come pouring down this weekend but both inspections and pricing saw a significant uptick with Victoria’s clearance rate creeping towards the 80s (76%) compared to last week when we saw it closer to 70. With the RBA set to meet again today, a 25-point rate hike is widely anticipated even in the wake of 8 consecutive...
Jeremy Desmier in Market Updates
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