27th June 2023 / Jeremy Desmier: Market Update | 24 & 25 June 2023

Despite a decrease in the number of homes going to auction, our Fletchers Group achieved yet another 100% clearance rate, again outperforming the industry standard. The Melbourne property market m bay have been volatile over the past year, but many signs point to balance returning. The dip in auction numbers is due to the June school holidays (down from 836 to 730), however there is still strong bidder interest due to this low supply.

Over the weekend...

Michelle Yan from Fletchers Blackburn conducted a seamless campaign at 36 Robinson Drive in Burwood East. The property saw 5 bidders take the home almost $400,000 above reserve, selling for $1,415,000 on the day. Flawlessly presented and in a family friendly neighbourhood, the home was both generously sized and perfectly positioned to achieve its potential on the day, which it certainly did!

In Bentleigh East, 3 Curtain Street required a little more patience, passing in at $1.55m, then selling post-auction for $1.650m. With 5 bidders on the day, Auctioneer Michael Egan said, 'the strategy to pass the home in was the right decision, ensuring the maximum value of the site's potential was reached'.

While some Melburnians may be taking the next few weeks off from property hunting, plenty of activities remain to keep families entertained. Why not check out What's on in Melbourne and make the most of the June school holidays!

If however you're like us, and are keeping warm by the fire instead of the Queensland or Euro sun, keeping an eye on market trends and being strategic in your buying or selling decisions still remains essential, and our Fletchers Group can provide expert guidance in navigating the market. Check out what's open this week via our open for Inspection schedule.

Whether you're a first-time buyer or a seasoned property investor, we're here to help you achieve your real estate goals. So enjoy the slightly slower pace over the next week or so, and when you return, call on us to help you navigate the dynamic property market.