8th April 2019 / Rob Fletcher: AUCTION SNAPSHOT | 6 & 7 April 2019

Comparing Victoria's 58% auction clearance rate with Fletchers strong clearance rate result of 71%, current market trends are pointing towards an increase in sales at auction across Melbourne, with Domain reporting 'a couple houses that went above reserve this weekend and that is unusual in this market'.

Strengthening this sentiment was one Melbourne agent, who, over the weekend, said 'each week is getting a little bit more confident'.

With the Federal election likely to be in May, Domain's Senior Research Analyst, Nicola Powell, said some stability could return to the market depending on the election outcome, saying 'it could spark investor activity with investors wanting to buy before new rules come into place'. Although the unveiling of the 2019 Federal budget will do little to help first-time buyers save for a deposit or break into the property market, News.com.au says 'the market has made a shift in favour of buyers, meaning things are slightly less dire for those looking to enter the market'.

Over the weekend, Fletchers agents saw a wave of bidders on Saturday, with many properties seeing as many as three to four bidders per auction. One such property was 15 Midvale Avenue in Balwyn North, which was sold by Fletchers Director, Jason Salan, for well-above average results. The 4-bedroom, 2-bathroom residence attracted four bidders on auction day, with each of them fighting it out for the substantial living and dining rooms, large rumpus room and work from home living options.

Results. It's a Fletchers thing.