10th August 2020 / Rob Fletcher: Market Update | 8 & 9 August 2020

Melbourne's first weekend of stage 4 restrictions saw a sharp increase in online auctions and inspections, with a clearance rate of 92% achieved for Victoria amongst 165 scheduled auctions.

Although auctions have now been held online successfully for several weeks, auctioneers are now required to hold all auctions online at home, with agency offices now closed under the tighter lockdown measures.

Under the latest restrictions, the REIV has stated that permitted work during this time will include 'services related to property settlement or end-of-lease, including removalists' and 'building and grounds maintenance, cleaning, pest control and packaging where providing support to an essential industry or where required to maintain the health and safety of Victorians at home or work'.

For the next 5 weeks, this means that any work related to contract settlements or end-of-lease scheduled to occur during this period, may be undertaken. This also includes final inspections.

With physical inspections not permitted at this time, we encourage all patrons to register their interest in a property with your local Fletchers agent to book a private appointment as soon as restrictions ease.

In Fletchers news, the 3-bedroom home at 53 Benwerrin Drive in Burwood East sold for more than $100,000 over the reserve price, to a family who had never inspected the house. Listed on the market for the first time in 31 years, the deceased estate was originally on the market for $840,000, later selling online for $953,000.

Fletchers Canterbury Partner & Auctioneer, Steven Zervas, said 'there were 6 bidders and the auction lasted for nearly an hour'. The buyers, a family from Mount Waverley, had only registered to bid on the property late Saturday morning.

'They did a couple of drive-bys, they know the area, so they said they didn't need to see it,' Mr Zervas said.

Results. It's a Fletchers thing.