oc | Sunday 23rd January

Market News » Prahran


Stonnington Weekly

Stonnington Weekly
Stonnington Snapshot This week our enquiry has predominantly been in the up to mid $1 million range – and what a competitive segment this is, in all parts of Stonnington! We bought a single-fronter in Malvern East at a Boardroom auction on Wednesday (with three active bidders) that had been scheduled for auction on Saturday (Daniel [...]
Port Phillip Weekly

Port Phillip Weekly

Clearance rates dropped to 54% on 17 auctions in Port Phillip this weekend, after several weeks of solid results in this area. The biggest sale was for 397 Howe Parade in Port Melbourne, which sold under the hammer for $1,541,000 under two bidders. But another in Port Melbourne, at 26 Beach St, had no [...]
By any measure it was a slow start to 2012 at the upper level!

By any measure it was a slow start to 2012 at the upper level!

As we come to the end of February most of the work we are involved in at this price level is off market or pre market – meaning not advertised or not yet advertised (and may not be). However two really good properties, currently beginning public selling campaigns (we have been through and rated), should [...]
The correctly priced good home/period home auction clearance rate would be nearly 100% in Stonnington right now

The correctly priced good home/period home auction clearance rate would be nearly 100% in Stonnington right now

Key Points: Stock is now starting to dry up as Easter interrupts the market and with the vibe dropping since Labour Day we may well see limited stock in the discretionary upper end market coming on Post Easter.  19 Huntingfield Toorak (Justin Long) was a classic example of a limited offering that captured the markets’ attention [...]
Properties Struggling to Move after Passing In

Properties Struggling to Move after Passing In

At 6pm on Saturday, the James Clearance Rate on the 31 auctions we covered was 58%. Bidderman, our demand indicator of average bidders per auction, had a small rise to 1.6 bidders per auction, in part due to four volcanoes (strong auctions) including one 7 bidder auction in 28 Barrington St Kew. These figures indicate that the [...]
Buying a home when there are kids in the picture

Buying a home when there are kids in the picture

The inner suburbs of Bayside, such as Elwood, Albert Park and Port Melbourne, are great places to live when you are footloose and child-free. But what if you’ve got plans to have kids down the track? Being able to walk to the local Turtle cafe in Elwood and take a short tram ride on No 79 through [...]
No real big guns on offer at auction today – lacklustre

No real big guns on offer at auction today – lacklustre

Key Points Fall in Clearance Rate today Stock offering not as good as October 23rd Very little new stock in this week owing to Melbourne Cup in 4 weeks A lot of off market on offer $3m+ homes have come on in big numbers compared to winter Biggest sale 5 Glassford St, Armadale, Justin Long, Marshall White, Under the Hammer $2,350,000 “Good [...]
Continues to build strength on lower stock levels

Continues to build strength on lower stock levels

Key Points: We covered 8 auctions across Stonnington on Saturday and all of them were bought. Armadale 28 Seymour, Joanna Nairn. Quote $3,500,000 plus. James Rating 682/1000. Bought After Auction, around $3,500,000. Bidderman 1 South Yarra 38 Park, Warwick Anderson. Quote $3,500,000 plus. James Rating 725/1000. Bought After Auction, above $3,000,000. Bidderman 1 Thursday Auction: Armadale 21 Adelaide. John Bongiorno [...]
The rest of $M+ Melbourne performed well today.

The rest of $M+ Melbourne performed well today.

The Melbourne $M+ market outside Inner East and Bayside performed pretty well today with 25 of the reported 30 $M+ auctions or 83% selling. This figure is a little generous, with a few unreporteds, but it nonetheless shows a strong “fringe” $M+ auction market. Highlights 18 Carn Avenue, Ivanhoe with Sue Lacey of Miles selling for $2,040,000 after [...]
Activity continues to build in Stonnington – but it’s still baby steps.

Activity continues to build in Stonnington – but it’s still baby steps.

Key Points: We covered seven auctions in Stonnington on Saturday. Of those, four sold under the hammer and two after auction. Big crowds across the board, all auctions had in excess of 50 people. Biggest Auction of the Day: 24 Somers Ave, Malvern, Jeremy Fox, RT Edgar, Under the Hammer, $6,160,000. “The sunfilled courtyard seemed a perfect setting [...]
There are buyers around but no exciting stock. However, the market may be stronger than it appears.

There are buyers around but no exciting stock. However, the market may be stronger than it appears.

Key Points: We covered 7 auctions across Stonnington today. Four had 3 bidders or more and 3 had none. This is a true reflection of Stonnington now: good stuff gets support but there is precious little of it on offer. Analysis: Our view is that demand is there – and this is supported by our buyer [...]
Just ticking along – very few big sales reported. The TOP of the TOP end is not happening like it was.

Just ticking along – very few big sales reported. The TOP of the TOP end is not happening like it was.

In Stonnington this weekend we monitored 14 properties, of which 8 were reported as bought before, at or after auction. Bidderman was a surprising 2.3 – surprisingly good given the stock quality This gives a clearance rate of 57%. For the corresponding week in May of this year we monitored 18 properties at auction at which 12 [...]
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 [...]
C’mon let’s get on with it – there are homes to buy!

C’mon let’s get on with it – there are homes to buy!

This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year. Hopefully, this will help you as [...]
Supply is everywhere and prices are falling. How long will it last? Maybe not as long as you think! The market still has an underlying strength.

Supply is everywhere and prices are falling. How long will it last? Maybe not as long as you think! The market still has an underlying strength.

At 6pm Saturday the James Clearance Rate on the 42 Million-Dollar-Plus Auctions we covered was 50%. Our Demand Indicator, Bidderman, is down to 1.1  –  which is pretty amazing considering that a few months ago it was riding high at around 3.0. Our Highlights Of the 42 auctions we attended this weekend, 26 had no bidders at all. [...]

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