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

Melbourne's property market has seen the number of auctions returning to more reasonable levels on Saturday, making it the biggest auction weekend so far in 2019. With just over 800 homes going under the hammer over the weekend, compared with auction volumes sitting in the low hundreds earlier in the year, early signs are beginning to show confidence returning from buyers and sellers. 'It took a few months for vendors, buyers and real estate agents to adjust but I think we're seeing that now,' said one agent.

According to Domain, market watchers admit selling conditions in Melbourne continue to fluctuate as prospective buyers are taking their time to have a clearer understanding of the market before making a move. 'Open houses normally attract high numbers of property punters, but a big percentage of them are new buyers entering the marketplace. They want to do some research before they arrange their finance and are prepared to bid.' As such, the true test of performance in the market over the next few weeks is expected to provide a clearer picture for property prices in the year ahead.

In Fletchers news, Michael Richardson of Fletchers Manningham sold 3-bedroom, crisp white weatherboard home for $1,136,500 over the weekend. Located at 59 Alwyn Street, Mitcham, the stunning residence came complete with a gorgeous garden, welcoming verandah and naturally bright interiors overlooking a lusciously green and healthy backyard.

Don't forget, if you're planning on selling this year, your next trip could be on us. Exclusively list and sell your property with Fletchers in 2019 for your chance to win 1 of 4 $10,000 travel vouchers. For more information and conditions of entry, visit fletchers.net.au/100yeartravel.