oc | Tuesday 7th December

Market News » buyers and sellers


Everything Sold – 12 from 12. Impressive Prahran sold 6 from 6.

Everything Sold – 12 from 12. Impressive Prahran sold 6 from 6.
Highlights: Everything sold that we were monitoring – 12 from 12. Hard to argue. Two five bidder auctions – both Tom McCarthy and Philip Moore of Biggin and Scott –  14 Green Prahran – $1,653,000 and 13 Hornby Street – $1,476,000. Prahran was hot because it also had the second highest sale at 41 Closeburn Prahran with Andrew Macmillan of Benmac – [...]
Election. What Election? No effect whatsoever!

Election. What Election? No effect whatsoever!

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 49% for the 37 auctions we attended. By 8pm it was 62% (seemingly a balanced result between buyer and seller). Bidderman, our Demand Indicator, was at 1.6 – a level we feel continues to be a good representation of current demand: borderline – a  market that may be [...]
The Private Sale Clearance Rate in $M+ Melbourne was around 1 in 4 over last 6 weeks. However at auctions this weekend it was ‘even-stevens’ between Buyers and Sellers. Bidderman 2.2

The Private Sale Clearance Rate in $M+ Melbourne was around 1 in 4 over last 6 weeks. However at auctions this weekend it was ‘even-stevens’ between Buyers and Sellers. Bidderman 2.2

At 6pm Saturday the James Clearance Rate on the 22 $M+ Auctions we covered was 59%. Our Demand Indicator Bidderman was 2.2.  Hmmm – an interesting increase but it was off a very low turnover. Today’s Highlights 1)      Bidders were present at 18 of the 22 auctions we covered –  and at three auctions there were 6+bidders 23 [...]
More and more choice for buyers and at good prices if you know how to buy well!

More and more choice for buyers and at good prices if you know how to buy well!

At 6pm Saturday the James Million-Dollar-Plus Clearance Rate on the 35 auctions we attended was 51%. Our Demand Indicator, Bidderman, was up at 1.7 – still hanging in there. PRICE CORRECTION There is no doubt the market has eased, “corrected” – call it what you like. One easy word to understand  is “dropped”. On a few properties it [...]
A softening maybe on the horizon. In Brighton and Brighton East 4 from 18 were reported as bought today. That’s 22%.

A softening maybe on the horizon. In Brighton and Brighton East 4 from 18 were reported as bought today. That’s 22%.

Discussions this week with Robin Parker of RT Edgar Real Estate included the  firm’s initiative to disclose the reserve price at the commencement of the campaign of 12 Cowper Street, Brighton. Throughout the campaign,  Rowan Thompson (the auctioneer), advised prospective buyers that property would be on the market at $1,425,000.   Buyers were informed and [...]
It appears to be a tale of two markets with the $1m market still going gangbusters (for sellers) and the $2m – $5m+ market cooling (for buyers and sellers). Anything, almost irrespective of quality is still selling if it has a 1 in front of it; but once you get to 2 – you need to be good and market priced; if you are to sell. At 3, 4 and 5 million dollars there is activity but its well considered, patient and for the most part has lost that feeding frenzy feel.

It appears to be a tale of two markets with the $1m market still going gangbusters (for sellers) and the $2m – $5m+ market cooling (for buyers and sellers). Anything, almost irrespective of quality is still selling if it has a 1 in front of it; but once you get to 2 – you need to be good and market priced; if you are to sell. At 3, 4 and 5 million dollars there is activity but its well considered, patient and for the most part has lost that feeding frenzy feel.

Almost Sleepy Hollow Today (as expected)

Almost Sleepy Hollow Today (as expected)

A quieter week in terms of numbers, given the Anzac  long weekend, and results were as expected.  Some sold strongly, some passed in, some sold after.  The ‘golden triangle’ in Black Rock continued to sell, with Nick Johnstone of JP Dixon selling 16 Glenmore Crescent for $1,820,000 and a well run campaign by Jason Gill [...]
Steady as She Goes + a Personal View on FIRB

Steady as She Goes + a Personal View on FIRB

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 33 Auctions we attended today was  71 per cent. The Anzac Day Weekend – Lest We Forget – was not expected to produce bumper interest. This weekend auction stock levels were not high and quality was mixed. Today therefore turned out as expected. Some solid [...]
Boroondara marches on!

Boroondara marches on!

After a week or two off for serious buyers and sellers, the market in Boroondara keeps on keeping on, with clearance rates for most agencies around the 85 per cent-plus mark. The weather in Melbourne was perfect today – perhaps the last breath of summer – and there were good people numbers at  auctions and at [...]
Price should not be a noun; it should be a verb. Price is a living, breathing thing.

Price should not be a noun; it should be a verb. Price is a living, breathing thing.

It’s 6pm and the James Clearance Rate for million-dollar-plus homes is another 70 per cent on the 20 auctions we attended today and will rise overnight. The picture above is of the guiding hand of James Connell from Marshall White as he works the crowd at today’s 2 Selwyn Court Toorak auction. Is that [...]
Bumber Bayside School Holiday Wrap

Bumber Bayside School Holiday Wrap

Two really strong auctions in Bayside yesterday 43 Victoria Sandringham with Buxton’s Mark Earle and Bill Jowett.  5+ bidders – selling under the hammer for $3,350,000 (2700 sq metres of land, with no restrictions and a bulldozer home – which the new owner will do). This means prime Sandringham land (non beachfront) [...]
Covering Toorak, Malvern, Armadale, South Yarra, Caulfield and Elsternwick $1m+ homes

Covering Toorak, Malvern, Armadale, South Yarra, Caulfield and Elsternwick $1m+ homes

Andrew McCann of Bennison Mackinnon says we are now very close to 2007 prices. Apartments Sam Wilkinson and Tim Blackett of Kay and Burton got 2-4 Lansell Road Toorak away pre-auction. It was a $2 million-plus sale but the apartment market at the Top End really does appear to be non-existent right [...]
Top End Apartment Market

Top End Apartment Market

Following our recent snippets on high-end apartments, we thought it would be good to get JP Dixon’s Ian Jackson’s take on Golden Mile apartments. He has a major article above on the Golden Mile. Mal: From an investment point of view, what do you think of Golden Mile apartments versus Golden Mile Land? Ian: It’s land. [...]
What’s been happening in Brighton at the Top End since Christmas

What’s been happening in Brighton at the Top End since Christmas

Ian Jackson, sales director of JP Dixon, is a man we can relate to: single malts, fly-fishing and a Brighton lover. Geez, I can’t believe I just wrote this – we’ve lost half our audience already. Seriously, Ian is a man I have enjoyed doing deals with. He does stick to his [...]
2009 $Million Market 1st Big Test – What is Happening? Big Numbers at Auctions

2009 $Million Market 1st Big Test – What is Happening? Big Numbers at Auctions

On Saturday at 5pm, we have a James clearance rate of 47% on the 19 auctions we attended – by Sunday this has moved to a very strong 79% (our highest in 2 years). On first blush, it doesn’t necessarily say the market is moving ahead positively (for sellers) but, in fairness, [...]

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