This week the talk about buyer expectations continued. The clearance rate was 67% on 12 auctions but next week (Super Saturday) we will have 37 auctions in Stonnington.
Bidderman was 1.5 today and of the 3 auctions we covered which sold under the hammer, each had 2 or 3 bidders and a buzz in the crowd.
The Waiting part of the buyer plan (for those who have not been in a hurry) seems to be coming to an end as it is replaced with the Readiness to act part. Is this the result of the usual burst in Spring (albeit a late start this year) or is this in part, a cause of the market picking up a little in recent weeks?
We have seen good numbers at Opens across Stonnington at a selection of better properties than previously on offer.
We saw some great off-markets this week ideal for families. More vendors are now motivated to sell (and sometimes quietly) because they have seen something they want to buy.
Buyers may need to rethink their needs and set down their priorities again as they leave their hobbyist Open homes inspector status behind. And for some, the idea of a perfect home may give way to – is it good enough?
ARMADALE, 37 Clarendon St | Andrew James (Hocking Stuart) Under Hammer: Bought range: $1,783,740 - $1,962,300 - 3 Bidders (Photo: Gina Kantzas)
Bidderbuzz Auction "Andrew James revs up the crowd of 50 or so interested onlookers with a Caulfield Cup tip and a few sparkling words on this goodie with good garaging, joined at the hip period home. We got out the blocks quickly at $1,600,000 from Bidder One and at this stage Andrew was asking for $10,000 rises, however after asking, then begging, then hoping nothing more was forthcoming and a half time break was called and taken.
Upon his return Bidder 2 limped in with $5,000 and the bidding was taken to $1,645,000 before Bidder 3 entered and together with Bidder 1 they took it to on the market at $1,690,000. Some solid bidding in various amounts between $1,000 and $15,000 raised the stakes to the eventual sale price of $1,860,000 to Bidder 3. A very solid result. Well done to the buyer and seller.
" (Gina Kantzas)
Biggest Sale: TOORAK, 4 Baxter St Gerald Delany (Kay & Burton); Under Hammer, $2,190,000 - 2 Bidders "The sounds of a garden party three doors down filled the air in Baxter St today. All the crowd could do was listen quietly as they waited for the auction to begin. Auctioneer Gerald Delaney conducted proceedings in the sun whilst the crowd of 45 sought shade under the trees lining the street opposite. He opened on a vendor bid of $2,000,000 and proclaimed it would be his one and only vendor bid. True to his word, there were no more vendor bids but Gerald did refer to the vendor three times during this long auction. Gerald managed to tease out every last bid during this time and it was after the third break, that we learned the property was on the market at $2,110,000. Bids comprising mostly of $10,000 and $5,000 were made by the two competitive bidders until bidder two won under the hammer at $2,190,000.
" (Gina Kantzas)
Biggest Pass In: MALVERN, 3 Chesterfield Av Gowan Stubbings (Kay & Burton); Passed In: $3,300,000 - 0 Bidders "A crowd of 40 people gathered in all the shady spots of this fantastic backyard to hear auctioneer Gowan Stubbings espouse the rarity of this package - big land & home with north orientation and with the option of a granny flat. He opened on a vendor bid of $3,300,000 and asked for $25,000 rises but the silence in the crowd meant that all that could be heard was the hum of Toorak Rd. A half time break allowed the small crowd to enjoy the sunshine for a little longer but did nothing to entice bidding. Passed in on the vendor bid." (Gina Kantzas)
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