1st July 2019 / Rob Fletcher: AUCTION SNAPSHOT | 29 & 30 June 2019

After accomplishing a phenomenal result for the Fletchers group, we are delighted to share news of our 100% auction clearance rate over the weekend. When compared with Victoria's industry average clearance rate result of 73%, it pays to know who you can trust with the sale of your property in 2019.

Commenting on activity from Saturday, Domain Economist, Trent Wiltshire believes the lower number of auctions was a key factor in the strong auction results for the state.

'Auction numbers remain low and school holidays in the next couple of weeks means we won't see too many auctions so the market won't be tested too much. Looking ahead, we're forecasting prices to bottom-out in Melbourne in Spring, then modest price growth of about 1-2 per cent in 2020'.

With investors steadily returning to the market and interest rates cut to 1%, many agents believe competition is about to heat up for owner-occupiers who are looking to secure a home later this year. As a result, the increased competition combined with the shortage of stock are likely to be potential contributors to increasing house prices in Melbourne over the next 12 months.

In Fletchers news, the fashionably renovated, single-level jewel at 1/33 Broughton Road, Surrey Hills, was in high demand over the weekend. Featuring an impressive 4 bidders at auction, the alluring 3-bedroom home went under the hammer for $1,300,000.

Results. It's a Fletchers thing.