27th May 2019 / Rob Fletcher: AUCTION SNAPSHOT | 25 & 26 May 2019

More than 711 homes were up for auction on Saturday, making it one of the biggest auction weekends in Victoria so far this year. With several reports of larger auction crowds across Melbourne, Domain Economist, Trent Wiltshire believes buyers are starting to feeling more confident.

'The Reserve Bank's hints of interest rate cuts and the loosening of lending criteria – which will enable people to borrow more,' further contribute to this sentiment.

Similarly, the REA Group predicts the recovery of Melbourne's property market is soon to be fast-tracked, with first-home buyers set to seize the opportunity to enter the market as a result of the Federal government's pledge to assist with topping up their deposits. REIV president, Robyn Waters, agrees. 'I can't recall a better time to be a first-home buyer in Victoria and I've been in the business a long time'.

In Fletchers news, contemporary, single-level residence at 1/11 Elm Tree Road in Doncaster sold on Saturday for $940,000. Originally on the market for $900,000, the 3-bedroom, 2-bathroom home saw 3 bidders participate in the auction, which was held by Pan Zhang and Osmond Newitt of Fletchers Manningham. A short stroll away from Westfield Doncaster, the gleaming floorboards, stone surfaces and brilliant under-cover alfresco with sun deck made this the perfect home for a downsizing couple or young family.

Results. It's a Fletchers thing.