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$3M+ market February market was a bit flat – except for Brighton

$3M+ market February market was a bit flat  – except for Brighton
Week Ending February 26th: If last week was the season opener for the $1m+ auction market, then this week was the beginning of the $3m+ auction market
$1 m+ market hotting up, but the $3m+ market still underwhelming

$1 m+ market hotting up, but the $3m+ market still underwhelming

At 6.00pm Saturday, the James Clearance Rate for the 31 Million Dollar Plus Auctions we covered was 74%.  The signs are there that the market has started with a hint of warmth about it. Bidderman was at 2, the $M+ Clearance Rate was 74% and this weekend’s Hammer rate was almost one in two. That’s a [...]
$3M+ market stumbles at 2011's first hurdle – except for Brighton

$3M+ market stumbles at 2011's first hurdle – except for Brighton

Week Ending February 26th: If last week was the season opener for the $1m+ auction market, then this week was the beginning of the $3m+ auction market and the main focus for this weekend’s report. We don’t have all this weekend’s numbers in yet, so it’s hard to call, but it [...]
Season Opener: February 19th

Season Opener: February 19th

Welcome to Million Dollar Melbourne in 2011 With the Auction Season Opener hitting us between the eyes on February 19, we know that the big question for buyers, sellers and agents is: What is going to happen in 2011? The feeling in late 2010 was that the market was cooling and we shared that view on price [...]
A fair few pass-ins, but a lot on offer. Thirty over $1 million and four over $3 million were bought

A fair few pass-ins, but a lot on offer. Thirty over $1 million and four over $3 million were bought

Today’s Highlights: Balwyn 32 Stephens, Maurice Di Marzio, Bought under the hammer for $3,800,000 – 4 bidders Balwyn 12 Knutsford, Tim Derham, Bought under the hammer for $3,520,000 – 4 bidders Kew 1 Stawell, Gowan Stubbings, undisclosed Bought after – 2 bidders Kew 3-5 Rimington, Scott Patterson, Bought After above $3,650,000 –  2 bidders Off Market Hawthorn 26 Fordholm, Michael Armstrong, [...]
Placing a value on a building

Placing a value on a building

Valuing land is difficult enough, but there are even more variables when it comes to getting a consistent opinion of the market value of an actual building. We always counsel long term passive investors to buy purely on land value, or to buy proven populist homes like Victorians and Edwardians as opposed to new homes.  Why? Buildings [...]
Boroondara clearance rate back on the improve

Boroondara clearance rate back on the improve

Key Points: Boroondara’s clearance rate of 72% on 42 $1-million-plus reported auctions remains solid. Only 2 properties sold under the hammer of the 9 auctions we monitored, with the other sales being before (2) and after (3). Auction levels still on the increase in the coming weeks.
Bring it on next week!

Bring it on next week!

Key points: We attended nine auctions in Boroondara. Four were bought under the hammer, three were bought after and two remain unsold 13 Kirkwood Drive, Camberwell (Steven Abbott, Jellis Craig) had six bidders, while 5 Vaughan Ave, Canterbury (Tim Heavyside, Fletchers, bought for $1,901,500) had five. Biggest sale of the day was 27 Grange Rd, Kew (Richard Earle, [...]
Clearance Rate dips to 54%

Clearance Rate dips to 54%

Key Points Clearance rate lower than expected 4 out of 5 properties over $2,000,000 passed in A number of no bid auctions which we haven’t seen for some time in Boroondara 6 out of 7 properties in Balwyn North between $1,000,000 and $1,500,000 were bought Price Watch 10 Leslie St Hawthorn with Chloe Quinn of Jellis Craig was bought for at [...]
Get Organised for the next Super Saturday – October 23rd

Get Organised for the next Super Saturday – October 23rd

The big news this week for homebuyers was not Gary Ablett or the GF Replay; it was the major stock inflows that took place on Monday, Tuesday and Wednesday when agents began their marketing campaigns for the next Super Saturday - October 23rd. Check out the size of the Weekly Review this week. While one weekend does not make a summer, we now seem to have finally started the Spring surge. Prior to the Grand Final(s) stock was particularly low and prices were definitely beginning to firm on the back of this.
September sees the re-emergence of Melbourne’s $3m+ Market

September sees the re-emergence of Melbourne’s $3m+ Market

September Executive Summary: Demand: Solid and increasing Reported Boughts: 46 Bidderman: Substantial improvement in bidders per auction at the higher level. Random cross section of bidders. 1/3/2/1/3/1/3/2/2/3/3/3/2/1/0/0 for a month average of 1.875 Supply: New Stock Low Overhang from May however new stock is still light on at end of September and that which comes on at a reasaonble price [...]
Still rockin’ along – bidders at all auctions

Still rockin’ along – bidders at all auctions

Key Points: Balwyn 23 Bevan, Richard James & William Chen. Quote $3,300,000 to $3,600,000. James Home Rating 742/1000. Bought After Auction Around $3,500,000. Bidderman 1. James Video Auction:  http://www.marketnews.com.au/video/?vid=316 Hawthorn 24 Coppin, Jock Langley. Around $9,000,000 Private Sale. This basic house, on an acre on the river in Hawthorn’s river precinct, has been on the market for well over [...]
Some sustained stock levels and clearance rate easing. But Bidderman is still strong.

Some sustained stock levels and clearance rate easing. But Bidderman is still strong.

Key Points: We covered 11 auctions across Boroondara on Saturday. Of those, 4 sold under the hammer, and 4 were bought after. Bidders on all bar one auction. Big crowd increases. The biggest auction of the day was 42 Wattle Valley Rd, Canterbury (Richard Winneke of Jellis Craig), which had an after-auction sale price in excess of $3,400,000 and [...]
Right now, the overall market may be better than you think!

Right now, the overall market may be better than you think!

At 6pm on Saturday, the James Million-Dollar-Plus Clearance Rate was 72% for the 36 auctions we attended on a wild and woolly Melbourne Saturday afternoon. It was a tricky day for auctioneers, spectators, reporters and photographers, with cosy indoor or wet outdoor auctions the norm. Bidderman, our Demand Indicator, was at 1.6 bidders per auction.  We think Bidderman was [...]
Stock is coming on – prices are going where….?

Stock is coming on – prices are going where….?

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 50% for the 38 auctions we attended. Of note is the fact that only 1 in 4 sold under the hammer. On Sunday the post-auction clearance rate rose to 66% on all 61 monitored properties. That tells us that the market is right on the brink, but [...]