20th April 2020 / Rob Fletcher: Market Update | 18 & 19 April 2020

The REIV has recorded a clearance rate of 78% for the weekend, which saw 103 auctions and 92 private sales take place, bringing in a total of $133 million for Victoria.

In a recent news editorial, Domain revealed entry-level homes continue to remain active despite broader economic uncertainty across the country.

'Many first-home hopefuls with secure jobs who have spent months looking for a property and missed out at auctions during the recent market rebound are keen to snap up a place. While they're competing with others well advanced in their search, few new buyers have started seriously looking, making it a little easier than two months ago,' writes Domain Senior News Producer, Elizabeth Redman.

As purchasers now find themselves in a buyer's market, homes at more affordable price points are expected to increase in demand, with record low interest rates and last year's loosened credit restrictions providing additional support to those looking to enter the market.

In Fletchers news, Fletchers Canterbury Partner & Auctioneer, Steven Zervas, held a successful auction online on Saturday, which saw several bidders compete for a charming single-level, 3 bedroom home at 6 Epsom Avenue in Epping. A total of 6 bidders and 21 bids later, the home sold under the hammer well above expectations.

Reflecting on the success, Director & Auctioneer, Jeremy Desmier, said, 'it was a great call. An amazing example of rapidly adjusting to change and nailing it! Great work to the Fletchers and Real Time Agent teams that made this online auction possible'.

Results. It's a Fletchers thing.