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Looking to 2015…What’s Ahead?

January 27th 2015

Real estate in 2014 was one of the strongest years on record, with robust sales numbers and record prices across Victoria.

Property buyers were spoilt for choice throughout the spring selling season but despite the high stock levels, it was pleasing to see the market retain its buoyancy. Fletchers achieved an average success rate at auction of 77 per cent for the year, compared to the Melbourne-wide clearance rate of 71 per cent.

The strong finish to 2014 bodes well for continued success as we move further into the New Year. Much of the positivity that was seen I the market could be attributed to, in part, the stability seen in interest rates. The cash rate has remained at the record low of 2.5 per cent since August 2013. Top Australian economists do not expect the Reserve Bank to increase the cash rate until late 2015, while many forecasts now predict a rate cut. Real estate is seen as an attractive investment as a result, well supported by strong population and GDP growth.

It is already shaping up to be a busy year for the Fletchers Group, beginning with the launch of our Glen Iris office on 1 February and Glen Waverley on 1 March. Our network is set for further growth throughout the year and we look forward to keeping you informed of the developments!

With many auctions already scheduled for late February, we expect that the high level of activity will continue last year’s trend of high attendance levels at open for inspections and plenty of competitive bidding at auctions!

We look forward to providing you with all your real estate needs in 2015.

RBA Snapshots

January 11th 2015

The RBA has released a snapshot of key economic data for the Australian economy: http://bit.ly/1xQ7S7Z

Fletchers Group News Update – 22 December

December 22nd 2014

The REIV recorded a clearance rate of 68% on the last auction weekend of 2014. Of the 464 auctions reported, 316 were sold and 148 were passed in. This weekend concludes the strongest year for the auction market; 17% higher than 2013.

It was an exciting and successful auction weekend for Fletchers Eastern suburbs offices, recording an impressive 77% clearance rate. Fletchers had 13 auctions scheduled for Saturday – 10 properties were sold (three of those prior to auction) and only three were passed in. What a great way to finish under the hammer for the year!

In Donvale, the three bedroom brick veneer home at 1/17 Hamal Street has been updated throughout to create a modern environment for first home buyers and young families. This low maintenance home offers comfortable living/dining, new bathroom and a modern kitchen that flows out to a North facing rear deck with paved alfresco area.  Five bidders were eager to secure this property. It sold for an impressive $684,500 – $84,500 over reserve!

Resting quietly in a leafy court location, 1 Meringer Court in Nunawading offers first home buyers, young families and investors an ideal, family friendly location. This home features combined living/dining, timber kitchen, three robed bedrooms, paved side courtyard and BBQ area. There were five competitive bidders hoping to call this property home. The bidders helped the property reach $51,500 over reserve, selling for $731,500!

A great result for the area and Fletchers agent Steven Zervas was the sale of 34A Somers Street in Burwood.  This fully renovated, two bedroom home offers an immaculate kitchen, spacious living/dining areas and a stunning outdoor entertaining area. The outdoor area features a spa and integrated sound system perfect for a summer of entertaining. The excited purchasers secured their new home for $665,000. An excellent Christmas present!

For all of Fletchers recent sales, visit our award-winning website.

The Summer Edition of our weekly Places magazines is finally out! It showcases some great properties we currently have listed. Grab your copy from you local Fletchers office or nearest cafe.

As 2014 comes to an end, the whole team at Fletchers would like to wish everyone a safe festive season and very happy New Year. Thank you for taking the time to catch up on our auction news every week. We look forward to sharing our latest news and auction results in 2015.

Be sure to keep up-to-date with Fletchers latest news and information on Facebook, Twitter and LinkedIn.

 See you in 2015!

 
The very happy purchasers of 34A Somers Street, Burwood.

Fletchers Group News Update 8 December

December 7th 2014

It was a damp weekend across the eastern suburbs but buyers looking to secure a home before Christmas were happy to brave the inclement conditions. With only two auction weekends left in 2014, the countdown to purchase before the New Year is on!

The REIV recorded a clearance rate of 69% this weekend, with 1,325 auctions reported. The spring auction market this year has been the strongest ever, with two record auction weekends in the past five weeks. This year has also had the highest number of auctions on record, with more than 37,000 held to date.

It was a weekend full of auction activity for Fletchers agents. Our Eastern suburbs offices had a total of 31 auctions scheduled for Saturday; 26 of those properties were sold (five prior to auction) and only five were passed in. We were able to achieve a success rate of 84%, an excellent result with the high volume of auctions and number of properties on offer.

Up for auction on Saturday was 8 East Court in Camberwell, a semi detached timber home that is perfect for first home buyers, couples or investors. This two bedroom property backs onto Cooper Reserve and is located close to shops, schools and transport. Four bidders were keen to secure this freshly updated home and, with some competitive bidding, the property reached $825,000 – selling for an overwhelming $225,000 over reserve!

Superbly renovated, 17 Oliver Street in Ringwood offered buyers a four bedroom, two bathroom family home. This home features a welcoming garden oasis, north facing verandah, open plan living, dining and kitchen with French doors leading out to a large covered alfresco area. With plenty of buyers eager to call 17 Oliver Street home it fared extremely well at auction. In front of a crowd of approximately 120 people, six bidders helped the property reach well over reserve, selling for a fantastic result of $876,000.

Located in a gorgeous court position, the two year old home at 1 Jocelyn Court in Forest Hill features five bedrooms, three bedrooms, two living areas, floating floors, plantation shutters, a north facing family living and dining with stacker doors that lead to a covered alfresco area. A north oriented backyard offers the new owners a lush lawn and thriving veggie gardens. All located within walking distance to shops, schools and transport. Four bidders competed for this home, which ultimately sold for $1.311 million.

For all of Fletchers recent sales, visit our award-winning website.

With the festive season upon us there is an array of activities in our community that the whole family can enjoy. Across the Eastern Suburbs you will find a carols event close by – so pack your picnic and get into the Christmas spirit!

In Greensborough, Carols by Candlelight will be held on Saturday, 13 December at 1 Flintoff Street. This free event will have delicious food and drinks for sale and a range of free family activities, as well as entertainment provided by The Australian Children’s Choir and Diamond Valley Brass Band. Gates open at 6.30pm!

The City of Whitehorse will be holding their carols night on Sunday, 14 December at the Whitehorse Civic Centre in Nunawading. With musical guests for young and old to enjoy it will be a great night, starting at 5.30pm. There is even the opportunity for photos with Santa and his elves. Pack your picnic and get singing! For more information, visit Whitehorse Carols.

Carols in Macleay Park will feature Balwyn North choirs and Balwyn Primary Senior Strings ensemble, even a visit special visit from Santa and fireworks to conclude the night. Head down to Macleay Park, located on the corner of Belmore and Buchannan Avenue in Balwyn North on Saturday, 15 December from 6.30pm.

In Hawthorn, Carols at Grace Park will begin at 5pm on Sunday, 16 December. Musical guests include Boroondara Brass, Exaudi Youth Choir, Auburn and Deepdene Primary School choirs. Get your singing voice ready and join in on some of your favourite carols!

Be sure to keep up-to-date with all of Fletchers latest news and information on Facebook, Twitter and LinkedIn.

Enjoy your week!

 

Fletchers agents Jason Salan, Tim Heavyside and Jack Lim with the happy purchaser
of 4 Edith Court, Doncaster.