6th December 2021 / Rob Fletcher: Market Update | 4 & 5 December 2021

The first auction weekend of December was another 'Super Saturday', with over 3,000 properties scheduled to go under the hammer across the country. Overall, auction volumes remain elevated for this time of year, with the run of busy Saturday's continuing to test the number of buyers active in the market.

In November, pent-up supply continued to enter the market, as we recorded the second-highest volume of auctions since records began. Clearance rates for houses continue to outperform units, however the Domain Group reports that this has slowed overall.

Domain chief of research and economics Nicola Powell said the flood of properties going under the hammer in the lead-up to Christmas indicated sellers were trying to get their deals done while there was still momentum in the market.

"That bumper three weeks in a row really does show sellers are trying to get their deals done before we see market softness. They want to sell while the market is still strong," she said.

Over the weekend, we saw an impressive six bidders compete at the auction of 25/7-13 Kireep Road in Balwyn. The stylishly refreshed two-bedroom apartment enjoyed a private position, within the Balwyn High School zone. Auctioneer Jeremy Desmier knocked the property down to the successful bidder at $720,000.

In Burwood, the traditional brick home at 2 Rees Street had been held by the one family for over fifty years. It now offered an opportunity for a savvy buyer to secure a rare opportunity in a prime location with a large, north-facing backyard. The home, ready for a modern renovation or new build, attracted four bidders and was sold under the hammer for $1,430,000.

In Doncaster, the luxurious and low-maintenance four-bedroom home at 3 Boyd Street saw three bidders keen to secure its spectacular views of Box Hill and the city. Auctioneer Pan Zhang sold the property to the successful bidder under the hammer for $1,508,000.

On Sunday, auctioneer Connor Sun achieved an excellent result for the prominent family home at 25 Joyhill Avenue in Box Hill South. Offering five bedrooms, two private balconies and a multi-level design, the home sold under the hammer for $1,913,000.

This coming Saturday, the 11th of December, Melbourne will have the second-highest number of auctions for the city set to be auctioned.

Success. It's a Fletchers thing.