8th February 2021 / Rob Fletcher: Market Update | 6 & 7 February 2021

After an incredible January where we saw house hunters out in force, the first auction weekend for February 2021 was a strong one.

The Fletchers Group achieved an auction success rate of 93% on Saturday, with the majority of properties either selling under the hammer with strong competition, or very shortly after in post-auction negotiations.

In what's shaping up to be a busy month for the industry, Domain reported that Melbourne real estate agents 'witnessed dozens of homes soar well above their reserves on Saturday, with buyer demand and low interest rates pushing many auction results well above expectations.'

One such example was 4/7 Amaroo Court in Box Hill North, which achieved the highest number of registered bidders at a Fletchers auction over the weekend. Having sold successfully by Director & Auctioneer, Ben Williams from Fletchers Blackburn, the classically spacious single-level retreat sold $51,000 over reserve after more than 9 bidders participated at auction.

Similarly, agents have also revealed record-level attendance levels at open for inspections, which according to Domain, suggests 'confidence has well and truly returned to the market just three months on from the end of Melbourne's second lockdown.'

Our highest sale for the weekend went to 12 Devon Street in Box Hill South, which was sold by Director & Auctioneer, Tim Heavyside for $2,710,000.

Success. It's a Fletchers thing.