4th March 2019 / Rob Fletcher: AUCTION SNAPSHOT | 2 & 3 March 2019

As housing affordability continues to improve for budding buyers and first-home owners across the state, agents in Melbourne remain assured in the 'boost in buyer numbers at open for inspections', according to the REA Group. Given the Spring selling season in 2018 resulted in 'nine straight weeks sub-50 per cent,' auction clearance rates in Melbourne have delivered numbers above 50 per cent for three straight weeks, suggesting that the market will continue to balance out despite prevailing buyer caution.

While current trends are pointing towards one-bidder auctions and post-auction negotiations, in an attempt to push prices down, industry experts say 'A-grade homes (renovated, in quiet streets, near schools and transport)' are 'mostly met with solid demand'. Additionally, Chris Tolhurst from Domain reports 'properties that attract downsizers, upsizing families, professional couples and investors in roughly equal measure are increasingly securing the best results'.

In Fletchers news, Michael Richardson, Director of Fletchers Glen Iris, sold cherished period home in the peaceful pocket of the English Countries District in Surrey Hills on Saturday. The Victorian style residence, constructed in the 1890's, was originally intended as a worker's cottage for the local orchard. Located just a short walk away from Canterbury Primary, Strathcona and Sienna College, the marvelous home boasts classic features such as its iron-laced verandah, Baltic Pine floorboards and two traditional, brick fireplaces.

Results. It's a Fletchers Thing.