25th March 2019 / Rob Fletcher: AUCTION SNAPSHOT | 23 & 24 March 2019

Finishing the weekend on a clearance rate of 59%, the REA Group revealed that 'suburbs with the biggest blocks' are holding strong in Melbourne's market correction.

With the latest figures from CoreLogic showing that 'suburbs with the biggest average land size have been insulated' from the levelling of the market, Research Author, Cameron Kusher, said, 'as new development increasingly moves towards higher densities and smaller lot sizes for houses, large housing lots are likely to continue to be highly desirable'.

Although the uncertainty surrounding the federal election and tighter lending conditions has caused some prospective buyers to wait-and-see where the market is headed before making any moves, industry experts have reported a recent rise in owner-occupiers, who, according to Domain, 'are selling properties at a discount, cashing themselves up and readying to buy another home relatively cheaply in order to profit from the next uptick in the property cycle'.

In Fletchers news, Senior Property Consultant & Auctioneer, Steven Zervas, was thrilled to sell family residence at 7 Joy Street in Mount Waverley on Saturday, for $200,000 above his vendors expectations. The charming and spacious 4-bedroom, 2-bathroom residence is located just a stroll away from Burwood One and The Glen shopping centres, offering a large lounge room, ground-floor double bedroom and broad north-side balcony. With an astounding 5 bidders at auction, the generous-sized home sold for a total of $1,260,000.

'Words can't describe how happy I am for our sellers, who have lived in Joy Street since 1978.'

Results. It's a Fletchers thing.