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

Melburnians were plunged into all too familiar territory last Thursday, with the announcement of our fifth state-wide lockdown because of the COVID-19 pandemic. With over 1,000 auctions scheduled for the weekend, vendors were forced to quickly decide whether to bring their property auction forward to Thursday night, move to an online auction, or postpone.

Our vendors at 8 Golden Ridge Drive in Croydon Hills opted for a dusk auction on Thursday night. Offering broad appeal, the contemporary family home attracted six bidders, with the property selling under the hammer for $1,052,000. Our Blackburn and Ringwood teams worked together seamlessly to achieve an excellent result!

In Burwood East, the auction of 49 Hilltop Crescent was also brought forward to Thursday night. The immaculate brick home offered scope for renovation and saw five bidders compete for the opportunity. The property sold under the hammer for $1,425,000.

By the weekend, auctions moved online to comply with the current government restrictions. Auctioneer Rod Burton fielded bids from 7 parties at the auction for 1A Pearwood Street in Ringwood. Most bidders opted to place their bids via the chat function, each trying to place the winning bid to secure the single-level home. It wasn't until the very pointy end of the auction, when a new bidder emerged, after waiting patiently for most of the auction. Calling out his bid the "old-school" way, he went on to place the winning bid and would become the new owner of 1A Pearwood Street.

We encourage you to keep up to date with changes on our website to auction dates, times, and locations. As we await further news on restrictions, many auctions are being moved online and/or their times being updated. Our sales and property management teams continue to work remotely and are available to assist you with any questions you may have. Be safe and well.

Success. It's a Fletchers thing.