10th December 2018 / Beth Oleyar: AUCTION SNAPSHOT | 8 & 9 December 2018

AUCTION SNAPSHOT | After 5 years of tremendous growth in Melbourne's property market, the real estate industry has experienced a changed landscape for buyers and sellers, who are now adjusting to a "new normal".

With a clearance rate of 49% over the weekend, cautious consumer sentiment and tighter lending conditions from the banks will likely have some weight on property prices in 2019. However, Domain Economist, Trent Wiltshire forecasts that by 2020, Melbourne house prices are expected to rise by 4 percent, suggesting the falling Victorian unemployment rate, strong population growth and the Reserve Bank again leaving interest rates on hold have had a positive role to play.

In Fletchers news, Tim Heavyside of Fletchers Canterbury sold a beautiful Victorian home in Hawthorn East on Saturday for the fantastic sum of $1,805,000. Located in a premium part of Hawthorn East and surrounded by an iron-laced verandah, lofty ceiling roses and an alluring, open fireplace, this property is just a walk away from local private schools, the Camberwell Junction and Glenferrie Road.

Results. It's a Fletchers thing.