20th May 2019 / Rob Fletcher: AUCTION SNAPSHOT | 18 & 19 May

It seems the property market in Melbourne received the vote of confidence at election day on Saturday. Passing the state-wide clearance rate of 65%, Fletchers achieved a record-breaking clearance rate for the year, selling more than 88% of properties at auction over the weekend.

With just under 400 auctions taking place and many more buyers expected to return to the market in the coming weeks, one agent claimed 'election day to me has always been a great day to auction, everyone is out and about – so there are crowds. And they get into the auction sport'. Domain Economist, Trent Wiltshire, also expects a larger number of auctions, saying 'there is likely to be a bit of a bounce in auction volumes and sales, as the uncertainty created by the election has likely contributed to record-low sales volumes in recent months'.

Seeing an average of 2-3 bidders at each auction, among the biggest results for Fletchers included the charming weatherboard family home at 10 Anthony Crescent in Box Hill North, which went under the hammer at $1,185,000. Featuring white plantation shutters and polished floorboards, the 4-bedroom, 2-bathroom home garnered the interest of 3 bidders and was sold by Tim Heavyside of Fletchers Canterbury.

Similarly, 9 Viewpoint Road in Balwyn North also sold at auction by Rino Presutto of Fletchers Balwyn North on Saturday. Achieving an incredible result of $1,268,000, the mid-century home was originally listed on the market for $1,130,000. Attracting 3 bidders at auction, the versatile property provided an abundance of possibilities for those interested in constructing a new luxury home or initiating a renovation.

Results. It's a Fletchers thing.