October is shaping up to be one of the the biggest months in Melbourne that we have seen for a while. Greater Melbourne has over 250 $1million plus homes for auction on the 25thd October with around 100 of them to choose from in the Bayside and Port Phillip councils.
November looks set to continue the trend, according to David Hart of Buxton Brighton. He said: “We are booking up very heavily right through to the end of November and we already have clients who are booking auctions for early December.”
The big question is whether the number of homes will do anything to improve the imbalance we have seen over the winter months where buyers have continued to outweigh the supply, as shown by our Bidderman statistics which were averaging 2 plus bidders per auction all winter. If the number of people inspecting homes is anything to go by, if the vendors are wanting to sell (ie. priced right), we could see a continuation of the last few months as we head into Christmas.
SOUTH MELBOURNE, 1404/2 Albert Rd | Gowan Stubbings (Kay & Burton) Under Hammer: Bought range: $1,553,580 - $1,709,100 - 3 Bidders (Photo: Gina Kantzas)
Bidderbuzz Auction "A crowd of 35 gathered to watch Gowan Stubbings auction this South Melbourne apartment across from the Botanical Gardens and Kings Domain. A bid of $1,300,000 opened proceedings, which was immediately countered by a bid of $1,400,000 from Bidder 2. The reserve had not been met at this level, and it was here that Bidder 3 joined the contest. Bidders 2 and 3 battled it out until the apartment was announced on the market at $1,500,000. Eventually Bidder 3 dropped out of the running and the hammer came down to Bidder 1 for an undisclosed amount." (Gina Kantzas)
Biggest Sale: ALBERT PARK, 382 Montague St Kaine Lanyon (Marshall White); Under Hammer, $2,750,000 - 3 Bidders "I don't think this single-fronted Victorian could ever have had as many people through its front door in its long history as it did before auction on Saturday. More than 100 people took it in turns inspecting the glamorous bathroom, waiting patiently at the top and bottom of the staircase as the hordes traipsed up and down to see the master bedroom and ensuite, and stepping around dozens of others as they ventured out across the rear courtyard to inspect the further bedrooms in a separate suite out back. Auctioneer Kaine Lanyon had to wait for the last of the crowd to leave the house, a little after the scheduled starting time, before proceedings could begin. When he did step out into Montague Street, Kaine gave a thorough preamble before calling for an opening bid. Unable to secure one, he tabled a vendor bid of $2,000,000. It took a moment or two, but Bidder 1 eventually entered the fray with a strong bid of $2,100,000. Bidder 2 chipped in at a little higher than that and the two fought it out until the price reached $2,350,000, when Kaine ducked inside to seek instructions from his vendor. Upon Kaine's return, Bidder 3 joined the contest and offered a $10,000 rise. Bidder 2 was out, so the battle continued between bidders 1 and 3 until the hammer came down at $2,750,000 to a rapturous applause and some "woop woops" from the very appreciative crowd. A great auction." (Jen Milligan)
Biggest Pass In: SANDRINGHAM, 141 Beach Rd Bill Jowett (Buxton); Passed In: $2,000,000 - 0 Bidders "Bill Jowett decided to conduct this auction in the upstairs living area which was easily large enough to accommodate the crowd of 35. Framed by a backdrop of blue sea and skies and accompanied by soothing music, he painted a very attractive picture of the lifestyle this house could provide. He claimed it possessed the essential "Three x L" meaning "Lifestyle, Location and Long-term growth." This was a non-referral auction and as nobody was prepared to put their hand in the air at this stage, he was obliged to pass the property in. There did seem to be a few lingerers, however and Mr Jowett had sold all three of his listings post-auction earlier in the day." (Val Smith)
