16th December 2019 / Rob Fletcher: AUCTION SNAPSHOT | 14 & 15 December 2019

Rising house prices and late listings have resulted in a remarkably busier month for the auction market over December. With more owners feeling confident selling their homes later in the year, the REIV recorded a total of 993 auctions in Victoria, which is up from the same time last year.

Although typically viewed as a risky time of year to go to auction due to potential bidders being occupied with Christmas shopping and end of year functions, December has so far proven itself a worthy contender to buyers and sellers alike.

'There has been over the past few months quite a bit of pent-up demand and that has pushed prices up in Melbourne quite sharply, and I think vendors are responding to that now,' said ANZ Senior Economist, Felicity Emmett.

In a fantastic outcome for our team, an auction clearance rate of 91% was recorded across the Fletchers group over the weekend, marking a significant increase from the state-wide clearance rate of 75%. Similarly, the weekend also saw an incredible turn out of buyers, where there were as many as 6-7 bidders per auction.

One such auction was the premium 3 bedroom home at 9 Chester Street in Surrey Hills, which sold for $1,769,500 and had a turnout of 6 bidders on the day. Located in an enticing neighbourhood with tree-lined streets, this luxurious dream home featured a spacious lounge and dining, sun-filled family room and double secure carport.

Results. It's a Fletchers thing.