26th February 2024 / Jeremy Desmier: Market Update | 24 & 25 February 2024

On what was the busiest auction weekend for Melbourne since December last year, there was a reported 1,405 homes scheduled for auction. The Domain Group recorded a clearance rate of 62%, with a median selling price of $1,067,000. The Fletchers Group was thrilled to achieve a solid success rate of 71% for our clients.

In Balwyn North, there were five bidders competing to secure the much-loved family home at 3 Larbert Avenue. Marketed by Rino Presutto, the property, which is in the Balwyn High School zone, was sold under the hammer for $2,200,000.

The luxurious home at 3 Catalina Avenue in Ashburton attracted three bidders who were keen to enjoy the multiple living zones, sparkling swimming pool, and lifestyle. The home was sold by Auctioneer Michael Rosano to the successful bidder at $2,802,000.

At the prized rear position of an immaculate duo, the single-level home at 2/8 Houston Court in Box Hill South offered the perfect opportunity for empty nesters, investors, or young families. Spirited bidding from four parties ensured, with Auctioneer Stefan Cook selling the property under the hammer for $1,036,000.

Keen to add $100,000 to the value of your home? The REA Group reports that swimming pools are the hottest amenity that Aussies want, topping the list nationally for the most searched item for home seekers looking to buy on their platform. The popularity of swimming pools continues to grow, with nearly 300,000 additional Australians living with a swimming pool since 2018, according to data from Roy Morgan.

We also saw from Domain research that after swimming pools, Melburnians sought out courtyards and studies in their property searches.

We're looking forward to another busy weekend ahead, as the Autumn market begins and we start to enjoy colourful leaves, mild weather, and everything our state has to offer! If we can assist you with any of your property plans, please give us a call.