2nd April 2012: Fletchers Group News Update – 2 April

The weekend before Easter saw the highest number of auctions recorded for the year so far, representing a busy weekend for agents, vendors, buyers and anyone interested in property! It also saw hundreds of 'Tough Mudders' descend on Phillip Island to complete the 20km course, trawling through mud, braving ice cold water and receiving electric shocks. Aside from a few brave employees, the majority of the staff at Fletchers stuck to navigating the real estate market!

The clearance rate recorded in Victoria was 61 per cent, on such a bumper auction weekend with nearly 1,000 auctions scheduled. The REIV notes that in light of the high volume of homes on offer, it is a good result which shows that the market is performing consistently. Fletchers results on the weekend support this view and it is encouraging to see several bidders present and offers put forward.

The morning started off with a fantastic result at 37 Laurel Grove North, Blackburn which saw the property sell under the hammer at $895,000 – nearly $100,000 over reserve! Four bidders competed for the opportunity to be part of Blackburn's favoured Bellbird area. Providing a bookend result at the end of the day was 124 Hill Road, Balwyn North which saw five bidders involved until the property eventually sold for $951,000 – $101,000 over reserve. Visit the Fletchers website for a full list of the weekend's sales.

In other news, the Reserve Bank meets for its April board meeting this week. In an AAP survey of fifteen economists, none expect the RBA to drop official interest rates from the current 4.25 per cent. They cite the relatively more stable global economic outlook and lack of major domestic data for their reasoning. Visit Sky News for more information.

If you're wondering how to keep the kids busy over the school holidays, visit kidspot.com.au which is a website full of fabulous ideas and resources.

Enjoy the short week as we approach the Easter long weekend!

Auctioneer, Jeremy Tyrrell in action – click to view his auction video!