19th April 2021 / Rob Fletcher: Market Update | 17 & 18 April 2021

It was another 'Super Saturday' of sales over the weekend, with more than 1,000 auctions held.

The Domain Group reported a clearance rate of 74.5 per cent, observing that renovators and builders were among the big buyers across the weekend. Australian housing values are surging at their fastest rate in 32 years, with residential values jumping 2.8 per cent in March - the fastest rate of growth since 1988, according to data firm, CoreLogic.

Buyers continue to create fierce competition on auction day due to relatively low stock levels and to take advantage of record low interest rates and government incentives.

The Fletchers Group were thrilled to achieve a clearance rate of 92 per cent on the weekend, with most properties attracting multiple bidders. One of the highlight sales from the weekend was the auction of 49 Russell Street in Surrey Hills, which sold under the hammer for $1.83 million to a couple looking to renovate the home. The vendors were a 103-year-old former prisoner of war and his 92 year old wide, who watched the house they built 58 years ago go under the hammer. Auctioneer Andrew Mackintosh said the "beautiful couple" no longer needed the home and were selling up and moving into aged care. "It was nice to get a good result for them", he said.

Over in Ringwood, auctioneer Steven Zervas fielded bids from six parties looking to secure the classic three-bedroom home at 45 Loughnan Road. With the opportunity to build multiple townhouses on offer, the property sold under the hammer for $911,000.

Success. It's a Fletchers thing.