29th November 2021 / Rob Fletcher: Market Update | 27 & 28 November 2021

It was another 'Super Saturday' over the weekend, with over 2,000 auctions scheduled across Melbourne. Buyers were spoilt for choice, with auction volumes up by 16.8 per cent from the previous weekend.

The sheer number of properties up for grabs did have an impact on auction clearance rates, as the rise in homes offered for sale soaks up pent-up buyer demand.

In Blackburn South, we saw four bidders turnout to compete for the keys of the substantial, five-bedroom family home at 71 Aldinga Street. The property sold for $1,740,000 and managing agent and auctioneer, Michael Gurry, was thrilled to be able to assist his clients in moving on to their next chapter, after so many years and memories at their family home.

On approximately 660sqm, the deluxe family residence at 2 Donald Road in Burwood saw four bidders vying to secure its resort-style exclusivity. A stunning home, it was an honour for agent and auctioneer, Steven Zervas to represent his clients in the sale. The property went on to sell for $2,401,000 – the new owners are sure to be extremely happy!

In Surrey Hills, Director & Auctioneer, Jeremy Desmier sold the single-level, two-bedroom villa unit under the hammer for $1,141,000. In the Balwyn High School zone and appealing as a low-maintenance downsizer, it's no wonder that it attracted three bidders on auction day!

Director & Auctioneer, Michael Richardson, successfully auctioned and sold both the pretty, four-bedroom Californian Bungalow at 18 Chaleyer Street in Glen Iris and the sun-filled, four-bedroom home at 14 Solway Street in Ashburton. Both homes had strong competition from two bidders, selling under the hammer.

The luxurious entertainer's home at 17 Hill Street in Box Hill South was unsurprisingly a hit with buyers, offering three living zones, sleek kitchen and covered alfresco. Auctioneer Stefan Cook fielded bids from three parties, until he knocked the property down to the successful bidder at $2,864,000.

As we approach the final three auction weekends of the year, we're not expecting to see as much frenzied bidding as we saw when the lockdown first eased, due to the increase in number of properties now available. The market dynamics have changed, and whilst excellent results can still be achieved, vendor expectations must be tempered with the reality that buyers have much more choice than they did eight weeks ago.

Success. It's a Fletchers thing.