Happy Easter!
Team Fetter/Sciola is back to it after a short but very pleasant break.
We are most excited to have a full schedule of auction campaigns for May, with five terrific homes hitting the market this week.
Q1 of 2023 is now done and dusted, and it felt like a much more positive and competitive market than the second half of last year.
There’s plenty of data to support this improved sentiment, with clearance rates across Jellis Craig hitting 80 percent or above for three of the last four auction weekends, and more broadly clearance has held in the mid 70s for February and March, according to the REIV.
The media are reporting modest price gains across the nation for the last few months and there’s chatter that we may have already seen the bottom of this latest market correction, which is now approaching a year and a half since the peak of 2021.
In Stonnington, the main narrative remains the lack of quality stock and we have certainly felt this, with our team selling half the amount of properties in Q1 2023 compared to the same quarter last year.
Fortunately, we finally have a very healthy stock list of properties that will hit the market in the coming weeks, so you should see plenty of Jellis Craig boards up across Stonnington soon.
David Sciola 