23rd May 2023 / Jeremy Desmier: Market Update | 20 & 21 May 2023

This weekend, our group achieved great success with a clearance rate of 87.5% - a figure again above the industry standard of 78% in Victoria. To illustrate, 82 Parer Street in Burwood sold with competitive bidding for $2,180,000 on Saturday. A staggering result with six families competing on the day. Auctioneer and Partner, Steven Zervas, said, "the home was in a dream pocket only meters from Presbyterian Ladies' College, Deakin University, Wattle Park Primary School, beautiful Wattle Park, and the golf course," resulting in well-attended opens throughout the campaign and, unsurprisingly, a hotly contested auction on Saturday.

In Deepdene, 9 Terry Street was on the market for $2,580,000 with Fletchers Director & Auctioneer Jeremy Desmier. The completely original three-bedroom residence set on 737sqm was zoned for Balwyn High School and only a few easy steps from beautiful Deepdene Park, the tennis club, mouth-watering eateries, and the 109 tram. It sold with an excellent result, pushing almost $400,000 above the reserve price, with three bidders fighting it out to the line selling for $2,914,000.

For those looking to secure their next home in Templestowe, Fletchers Director & fourth-generation family member Nick Fletcher has a wonderful opportunity on offer. Nestled within Templestowe's Golden Mile precinct, 'Chanterelle – Grand Chateau Provencal' embodies signature luxury with elaborately detailed wrought iron gates/fencing and handmade Hawthorn bricks by Daniel Robertson. Recognized for its prestigious streetscapes filled with high-end properties, Templestowe offers immense appeal for professionals seeking space and families coveting excellent lifestyle amenities. With top-rated schools, delightful shopping precincts, and plentiful parklands, Templestowe truly offers it all - and it's only 19 km from the CBD.

The eastern suburbs of Melbourne may have transformed over the years but have always remained peaceful and family-oriented with a strong sense of community, much like our team here at Fletchers. Known for their natural parklands, access to excellent schools, and a thriving retail and dining scene, these coveted neighbourhoods embody the pinnacle of suburban living.

According to most property commentators, the Melbourne property market has reset, indicating that stability is on the horizon. In a post-pandemic world, homebuyers are now prioritizing suburbs with more open spaces, larger properties, and accessible amenities – valuing them as highly as those in the city center.

That's why Fletchers will continue to expand our footprint into communities such as Ballarat, Bundoora and both Peninsulas. These growing suburbs offer a new way of living that's both serene and upscale.

If you're planning on transacting in the property market soon, whether to buy, sell or lease a home, now is a great time to get started. Although Spring is a popular season, don't overlook the advantages of putting your property on the market during the colder months. With low stock levels, population growth, and a return of foreign buyers to the market, Winter can be the right time to stand out from the competition.

To attract potential buyers during the cooler months, there are a few key things to keep in mind. Firstly, ensure your home is kept warm and cosy to avoid any feelings of cold or dampness. Secondly, be flexible with your open homes to give everyone equal opportunity to view your property in unpredictable weather. Remember, more eyes mean more potential buyers! Finally, don't forget to highlight the winter features of your home, such as open fires, a coonara and great ambient lighting.

These simple tips can help increase your chances of achieving an outstanding result. So, if you're considering your market options, contact your local Fletchers expert today to determine whether a Winter campaign is right for you.

Get in touch HERE.