10th February 2020 / Rob Fletcher: AUCTION SNAPSHOT | 8 & 9 February 2020

Making a remarkable comeback from the 2017-19 downturn, Melbourne's housing market has seen a 20 per cent increase in auction clearance rates from this time last year. With renewed buyer confidence already driving positive results in the market, industry experts are expecting a busy start to the year.

'The market is kicking back into gear and we'll begin to see lots of new listings come on between now and Easter. [Last] weekend's clearance rates really illustrate the confidence that has come back into the market,' said Domain Senior Research Analyst, Nicola Powell.

With the Reserve Bank having announced its decision to keep interest rates on hold at 0.75 per cent, CoreLogic Head of Research, Tim Lawless, said 'housing markets have well and truly responded' to lower interest rates, 'with national housing values rising 6.7 per cent since the first rate cut in June through to the end of January'.

In Fletchers news, Fletchers Blackburn Director & Auctioneer, Rob Sheahan, had a fantastic weekend of results, selling a total of four properties all well above expectations. Seeing an average of 4 to 6 bidders per auction, one of Rob's standout sales for the weekend included 4 Oleanda Crescent in Nunawading, which went under the hammer for $1,316,000. The four bedroom family delight featured an attractive under-cover deck with views of the garden and a stylish open-plan dining and family room nestled within a serene neighbourhood pocket.

Results. It's a Fletchers thing.