23rd September 2019 / Rob Fletcher: AUCTION SNAPSHOT | 21 & 22 September 2019

We're proud to report a remarkable auction result for the Fletchers group over the weekend. Our talented sales team collectively achieved a clearance rate of 91%, far surpassing the state-wide result of 79%.

Come hail, rain or shine, the buyers were also out in full force, with the majority of auctions seeing multiple bidders in attendance. One such example was 1 Hobart Street, Ringwood, which saw an astounding 8 bidders push the sell price more than $100,000 beyond reserve.

With competition heating up, the latest auction results provide a very good indicator of the strength of the market. Research by Domain Economist, Trent Wiltshire, indicated that the relatively high auction clearance rates in the two months prior to Spring are most likely an early sign of market turnaround. Domain data from the June 2019 quarter also showed a slight jump in house price medians for the first time since the peak at the end of 2017.

With so many standout results on Saturday, the charming 4-bedroom family home at 24 Highview Drive, Doncaster was one of several success stories for Senior Property Consultant, Pan Zhang. The bustling auction attracted 7 bidders on the day, which resulted in a fantastic sale price of $1,301,000; passing its reserve by more than $150,000!

Results. It's a Fletchers thing.