Auction News

The following are category results:

Fletchers Group News Update – 14 May

May 14th 2012

We certainly hope that all the Mothers out there were spoilt on Mother’s Day on Sunday! We also commend all the enthusiastic participants of the popular Mother’s Day Classic fun run, who got out of bed on a cold day to help raise funds for breast cancer research.

The REIV recorded a clearance rate of 63 percent on the weekend, compared to 52 percent on the same weekend last year. Fletchers again achieved a fantastic success rate of 80 percent, which included busy auctions at 170C (Lot 1) Broughton Road, Surrey Hills with four bidders and 12 Boisdale Street, Surrey Hills with five bidders.

Our Geelong Office had a successful day under the hammer, selling both 20 George Street and 113 Autumn Street in Geelong West.

Moving away from auction results, we would love to share two recent private sales that we achieved, which highlight the unity of our team and the value of a good database!

The first is 142 Mountain View Road, Balwyn North which demonstrated our terrific inter-office teamwork. The home was listed by Tim Heavyside at our Canterbury Office, but sold by Balwyn North specialist, Daiman Kane within a week of being on the market. The vendor was thrilled with the result!　

The second occurrence developed from the excellent impression a potential client received of Fletchers agents Gail Logan and Tim Heavyside. Although it wasn’t time for her to sell, she was so impressed by Gail and Tim’s professional approach that she referred them to a neighbour’s home. The neighbour had previously listed her home with another agent but hadn’t been able to sell.　

With a lot of hard work over a weekend, making several phone calls to her database contacts, Gail was able to present this tired, frustrated vendor with not one, but two documented offers! The vendor was relieved and happy, and the lovely lady that provided the referral was thrilled to be informed and receive a gift as a gesture of thanks from Gail. As she said in a glowing testimonial, “Fletchers work for the vendor and make things happen…I am now a raving fan and wish you and your sales team all the success you deserve.”　

Wow! We were certainly delighted to hear such kind words about our company and its representatives. If you would like to experience the Fletchers difference, please contact us on (03) 9836 2222 to discuss your real estate needs.　

Enjoy the rest of your week!

Our happy referrer posted a picture of her gift on Facebook!

Fletchers Group News Update – 7 May

May 7th 2012

What a busy, rainy auction weekend for Fletchers!

The auction clearance rate recorded in Victoria was 62 per cent, with the REIV noting that the decrease in interest rates announced last week may help stimulate activity levels. However, any impact is unlikely to be noticeable for another few weeks; in addition to the rate cuts, other economic factors such as unemployment levels and consumer confidence will need to improve if we are to see an increase in activity and prices.

Fletchers defied the average on the weekend, however, achieving a success rate of over 80 per cent with several impressive results. 38 Uganda Street, Burwood sold prior to auction for $688,880 (must be a lucky number!), as the circumstances were right for both parties.

Earlier in the day, a large crowd of approximately eighty people battled the rainy conditions to see five bidders compete strongly for the opportunity to own 47 Queens Parade, Glen Iris. Auctioneer James Bateman did a great job of entertaining the crowd and inspiring the bidders, and the vendor was suitably impressed with the professionalism of both James and Brad Cooper throughout the whole campaign.

36 Burgundy Drive, Doncaster was another busy auction, this time held inside because of the rain. Around eighty people packed the living room area, spilling into the kitchen to see four bidders race the price up to $776,000. Auctioneer Tim Heavyside used a whiteboard to clearly demonstrate all the bids, which the buyers most appreciated as the auction was well represented by the Asian community.

It was a busy day for Tim, who also sold 41 Maysia Street, Canterbury where a crowd of about seventy people took on the rain to witness a sale at the esteemed Hassett estate. Located in a landmark location, 32 Churchill Street is regarded as being in one of the three best streets in the small suburb of Mont Albert. Although the sale price was undisclosed, we can report that the vendors were thrilled!

22 Tennyson Street, Richmond has had a fantastic marketing campaign, which came to a head in the sleeting rain as seven bidders engaged in competitive bidding. The property sold well in excess of the vendor’s expectations, with agent Nick Fletcher describing the property as one the best warehouse conversions he has ever sold!

The final auction of the day in Balwyn North showed resilient bidders still out in force despite the inclement weather. 36 Walnut Road, Balwyn North was bought by a couple returning to Melbourne from Sydney, after eight years away. They flew in on the morning of the auction, then flew out that night – their daughter Maggie (pictured) was very excited at the prospect of moving to her new house in Walnut Road.

Interestingly, both bidders only viewed the property for the first time on the Wednesday, the week of the auction. Bidding started at $720,000 going slowly at the beginning and finally finishing at $901,000, giving credence to the old advice of never stopping on a ‘round’ number. The last $1,000 bid was enough to see the losing bidder hop in the car and depart. The reserve price was $850,000 – Senior Associate, Jason Salan noting it is a familiar case for Balwyn North properties of recent weeks, exceeding reserves comfortably (for the most part).

We hope that you enjoyed our latest news…more next week!

Happy purchasers of 36 Walnut Road, Balwyn North

Fletchers Group News Update – 1 May

May 1st 2012

The best news of the week has come early – the Reserve Bank has slashed interest rates by fifty basis points, with the cash rate now sitting at 3.75 per cent. The decrease is the first time in more than three years that the central bank has eased rates by more than 25 basis points. RBA Governor Glenn Stevens said in a statement accompanying the decision:

“This decision is based on information received over the past few months that suggests that economic conditions have been somewhat weaker than expected, while inflation has moderated. In Australia, output growth was somewhat below trend over the past year, notwithstanding that growth in domestic demand ran at its fastest pace for four years”.

It is hoped that the interest rate cut will help to stimulate the economy. Read the full RBA media release.

The Melbourne residential market produced a 60 per cent clearance rate on the weekend, with the REIV noting that the announcement today would have the potential to improve consumer confidence, the economy and the property market over the coming months.

Senior Associate, Jason Salan and Property Consultant, Stephanie Michael noted a return to big crowds on the weekend, with at least 150 people attending the auction of 47 Corhampton Road, Balwyn North. A number of other local auctions also enjoyed strong turnouts on what was a mild Autumn day.

47 Corhampton Road started at $700,000, with strong and steady bidding all the way through without breaking. The substantial family residence was on the market at $840,000 and yet still broke through the $900,000 barrier, eventually selling for $910,000. Post auction, the owner and her daughter were so pleased with the result they were jumping up and down with excitement!

Jason noted that the result showed the benefit of the auction process – “you get the chance to get the dream price”. A local in the audience also made a telling comment…“who says this is a bad market, look at all these people!”

Up on the Gold Coast, the auction for 8 Jasper Court, Currumbin Waters took place on Queensland Council election day and what turned out to also be the wettest Gold Coast day for over ten years! The property was well marketed and although there were only two registered bidders, agents Robbie and Laura Robinson had three conditional buyers who were in attendance in case the property was passed in. This didn’t eventuate however and after an hour long auction, 8 Jasper Court successfully sold under the hammer in what was a record breaking price for the street!

Fletchers support many community activities, most recently a concert hosted at the Sacred Heart Church in Kew. The Clough Choristers presented a wonderful rendition of famous composers, accompanied by talented soloists. Many in attendance shared their appreciation of Fletchers support for their local community!

We hope you enjoy the rest of your week!

The happy vendor at 47 Corhampton puts on the sold sticker!

Fletchers Group News Update – 23 April

April 23rd 2012

Fletchers have certainly had a busy weekend, with plenty of activities happening in the community but let’s start with the auction results from Saturday!

The REIV recorded an auction clearance rate of 61 per cent, and Fletchers results from the weekend were certainly consistent with this. The REIV noted the improvement in clearance rates is a positive sign, indicating that confidence in the residential market may be starting to improve. As mentioned in last week’s news update, the Reserve Bank’s decision on interest rates will have an influence on activity in the property market. The ultimate test of course will be whether any reduction in the cash rate will be passed on by the retail banks to borrowers!

Fletchers saw some great auction activity on the weekend with a couple of stand-out results. 2/147 Willsmere Road, Kew attracted a great crowd of almost 100 people, who saw the property contested amongst a total of five bidders. The property was on the market at $690,000 and eventually sold for $762,000 to a lovely young family. Agent Mark Salvati noted that it was an emotional sale for the family as it was a deceased estate, their Dad’s home. All the siblings made it for the auction, several of them travelling from interstate to attend.

The auction of 5 Madden Street, Balwyn North also produced an excellent result, involving six bidders. The bidding began at $1 million and the delightful clinker brick home was on the market at $1.425 million, selling for over $1.58 million (the eventual price was undisclosed). The auction was unique, due to its protracted length of about 45 minutes and the result! All the sales evidence suggested that the property was worth approximately $1.4 million, but the combination of spirited bidding and pure emotion was testament to the auction system. As auctioneer Tim Heavyside commented, the auction system is “a proven result producer”.

Tim also noted when analysing the result that whilst 5 Madden Street is a gorgeous clinker brick home, with generous land size of 961 sqm and a 69 foot frontage, it certainly was comparable to the two most recent sales in the street, late last year. Tim achieved over $100,000 more for 5 Madden Street, pointing not only to an improving market but also as a result of the experienced, professional marketing campaign conducted by ‘Team Heavyside’ and Fletchers.

If you have been following Fletchers on Facebook, Twitter or our Forum you will no doubt be aware that a team of four of our colleagues bravely undertook the 100km Oxfam Trailwalk, which began on Friday. Adam Parrott, Nick Fletcher, Chris Chapman and Danny Smith passed the finish line at Wesburn Park in the Dandenongs, after 28 hours and 100km of torture! They all agree that it was the commitment from their Fletchers support crew and supporting each other as a team that helped them complete the trek. They all struggled at different stages, both physically and emotionally, but by bonding together they helped each other through those tough times!

We are so proud of all of them, not only for completing the walk (in style!), but for raising in excess of $3,500 for the great work done by Oxfam across the globe. Apart from the joy (and relief!) of passing the finish line, the boys found that the most exhilarating aspect of the walk was when all the students and teachers from a primary school in Belgrave came out, forming a guard of honour, with every child giving them a high five and screams of encouragement!

The Glenferrie Road Festival was also held on the weekend, and Fletchers were set up right near our billboard, close to Glenferrie Station. Most of our Hawthorn team was on hand, meeting people and handing out copies of our much-loved book, ‘A Journey Through Melbourne’s East’. This is a fantastic book for the coffee table, taking you through the history of Boroondara, Whitehorse and Manningham. If you missed out on getting a copy, you can collect one from any of our Eastern suburbs offices or request one from your local Fletchers agent!

This Wednesday, 25 April is Anzac Day, marking the anniversary of Australian and New Zealand forces landing at Gallipoli. It is a day we pause to remember the sacrifice of those who died in war – the First World War and all other wars. Around the country, ex-servicemen and women march through the city and commemorative ceremonies are held at war memorials around the country.

We hope that you enjoy your week!

The boys endured some wet conditions on the walk!