23rd March 2020 / Rob Fletcher: AUCTION SNAPSHOT | 21 & 22 March 2020

Amidst the changing face of real estate in the wake of COVID-19, last weekend saw 930 properties scheduled for auction, bringing in a total volume of $589 million and a slightly reduced clearance rate of 66% for the state.

With 'Stage 1' lockdowns now in effect, the real estate industry continues to operate auctions, property inspections, sales and property management under the appropriate health and safety protocols as advised by the State and Federal Governments.

REIA President, Adrian Kelly, said that estate agents are pretty good at adapting to these circumstances, also mentioning that he was 'not expecting to see an impact on the value of homes.'

As things continue to change, virtual tours, Facebook Live videos and online bidding capabilities are being implemented across the industry in order to assist buyers and sellers currently in the market.

In Fletchers news, Director & Auctioneer, Reilly Waterfield was pleased to sell 6 Ellamatta Rise in Ringwood North last Saturday. The 4-bedroom, 2-bathroom home, stretching across a wide block of land, featured a luxurious, indulgent family design, manicured gardens and contemporary fittings throughout. The auction crowd saw 4 bidders actively compete for the property, which sold above expectations for $1,500,000.

Results. It's a Fletchers thing.