4th March 2020 / Rob Fletcher: AUCTION SNAPSHOT | 29 February - 1 March 2020

The latest figures from CoreLogic have revealed that concerns around Coronavirus have done little to dampen Melbourne's rising property market. The surge has seen house prices increase another 1.2 per cent in February, climbing at its fastest rate on record.

According to News.com.au, a survey of 40,000 respondents from Australia's number one reviews, ratings and rankings website for real estate agents, RateMyAgent, found significant increases in seller happiness over the last 12 months, with 'the explosive recovery in the Australian housing market [having] translated to happier sellers, with satisfaction at sale prices doubling in one year'.

Both Melbourne's Southern and Eastern suburbs ranked in the top 10 happiest areas on RateMyAgent, coming in at first and third place, respectively.

Real estate agents have also seen property investors return to the market in recent months, with investor home loans climbing by 22 per cent between May and December of 2019. Buyers advocate, Cate Bakos, said 'they're now looking for properties with land – so older homes, villa units or townhouses that have land attached are popular.'

In Fletchers news, Director & Auctioneer, Jeremy Desmier, sold the stylishly enhanced, mid-century home at 20 Baker Avenue in Kew East last Saturday. Designed in 1958 by renowned architect, Harold Bloom, the dazzling 3-bedroom home saw 6 bidders on the day, pushing $246,000 passed reserve and selling for a remarkable $2,231,000.

Results. It's a Fletchers thing.