31st May 2021 / Rob Fletcher: Market Update | 31 May 2021

Victorians were plunged into all too familiar lockdown conditions last Friday, as the state began a 7-day "circuit-breaker" to stem the flow of a growing COVID-19 outbreak. As a result, in-person inspections are banned, and auctions moved to online/virtual only.

We saw several auctions moved forward to Thursday night and more still selling prior to their scheduled auctions as agents negotiated sales before lockdown began.

Tim Heavyside and team held their first "twilight" auction for the property at 83 Middlesex Road in Surrey Hills, which was conducted safely and was a great success! The fully renovated Californian Bungalow home sold under the hammer, and both vendor and successful purchasers were rapt with the result. In Glen Iris, the auction of 10 Florence Street was also brought forward, attracting four bidders and selling under the hammer for $1,905,000.

Many auctions move online, and now well-practiced in this space, it did not deter buyers looking to secure their dream home. Over on the Mornington Peninsula, Director & Auctioneer Josh Callaghan fielded 107 bids during the online auction of 11 Maxwell Street in Blairgowrie. The auction resulted in a ground-breaking sales result of $2,562,001.

We await news of whether the lockdown will be extended past 7 days, but regardless of the outcome, we are confident that the property market will continue with strength after this brief pause in normal activity.

Success. It's a Fletchers thing.