oc | Sunday 23rd January

Market News » Prahran


The Toorak high wire balancing act. Price is a fickle animal in June 2010.

The Toorak high wire balancing act. Price is a fickle animal in June 2010.
Talking with James Connell of Marshall White as he scoots off for a bit of a break, he tells me the market is sound with no real price drops. When you get the figure of 140 sales in May for Marshall White, it’s hard to argue with that. It’s also hard to argue when Kay and Burton’s [...]
Waving not drowning – even some bidding. Things seem to be balancing back (a bit) over the last fortnight.

Waving not drowning – even some bidding. Things seem to be balancing back (a bit) over the last fortnight.

Stonnington seems to have got itself back into the game with a second “OK, sort of – almost normal” auction week in the 60’s clearance rate wise. We monitored 23 homes of which 15 were bought; that’s a 65% clearance rate (last week 69%). Of the auctions we  attended 7 of the 10 were bought. What’s happening? Price reduction is [...]
Nathan Waterson, Bennison Mackinnon

Nathan Waterson, Bennison Mackinnon

Nathan Waterson – Focusing on Stonnington Kristen: Hi Nathan. Nathan: Hi Kristen. How are you? Kristen: Good thank you. I’m here today with Nathan Waterson one of the partners at Bennison Mackinnon, he’s been there for five years now. We are just going to have a bit of a chat about the market and what’s [...]
WOW and we said the market was frosty – it’s cooling, but frosty was too harsh. K&B continues the strong results and RT Edgar joins in.

WOW and we said the market was frosty – it’s cooling, but frosty was too harsh. K&B continues the strong results and RT Edgar joins in.

Stonnington was surprisingly strong with Park St South Yarra (Warwick Anderson of RT Edgar) going well past $3,900,000 on multiple bidding; 81 Clendon Road Toorak (Gerald Delany of Kay and Burton) selling post auction north of $7,350,000 and 64 Burke Road Malvern East selling before for 3,320,000 or $1366 per sqm for main road land. The [...]
Kay and Burton strong month says the market is not dead yet in Trak town!

Kay and Burton strong month says the market is not dead yet in Trak town!

  In Toorak and South Yarra it was 50% at auctions today – which actually wasn’t that bad when compared to the last few weeks. Stonnington today had a reported clearance rate including Glen Iris over $1m of 66% (12 from 18). Not a lot to be taken from specific results today except to say that [...]
Are Vendors Getting Ahead of Themselves? South Yarra and Toorak were almost bidder free today.

Are Vendors Getting Ahead of Themselves? South Yarra and Toorak were almost bidder free today.

Of the 11 Stonnington auctions we attended today, four properties sold under the hammer, one before with the balance passed in (one of those six has since been reported as sold). Of the pass ins, five were passed in with no bids (apart from a vendor bid). So are vendors getting ahead of themselves? Let’s first look at what [...]
$2m+ is leveling quickly as buyers become more discerning on price; but $1m+ remains full steam ahead on almost anything!

$2m+ is leveling quickly as buyers become more discerning on price; but $1m+ remains full steam ahead on almost anything!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 36 Auctions we attended today was a solid  75 per cent on good stock numbers. The “frenzy” feel has left the highest of the higher end market for now as the new age businessman and establishment money, who determine the Toorak market, reconsider after (1)    looking at [...]
A Quiet Auction Day in Stonnington

A Quiet Auction Day in Stonnington

Not many highlights today as the supply of quality properties was limited and buyers may be waiting for  the promised stronger offerings in May. At the upper end, results were mixed, with an attractive Gillespie townhouse on Walsh Street passing in at $4,820,000 after a vendor bid of $4,800,000 in front of a quiet crowd. Another [...]
Stock Quality was down. Significant drop in Bidderman and Clearance Rates at Today’s $m+ Auctions. A hiccup or the start of a rebalancing? It’s only one day so stay tuned!

Stock Quality was down. Significant drop in Bidderman and Clearance Rates at Today’s $m+ Auctions. A hiccup or the start of a rebalancing? It’s only one day so stay tuned!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate from the 31 Auctions we attended today was 61 per cent. Wow that was a bit of a surprise! Please note we thought the quality of the homes on offer was not as high as the last two weeks in February or the upcoming March 27th auction [...]
Mixed in Toorak and South Yarra

Mixed in Toorak and South Yarra

Not a whole lot on offer today and certainly minimal quality for the most part. Something old, something new. What sells? Well this week it was something old. Two good old sales were: 140 Kooyong Road with Iain Carmichael of Bennison Mackinnon (James Rating 691/1000) which sold for a bullish $4.04 million after being on the [...]
Toorak, South Yarra through Malvern, Glen Iris, Malvern East and Armadale

Toorak, South Yarra through Malvern, Glen Iris, Malvern East and Armadale

Leaving out Glen Iris – talked about that in Boroondara wrap – we saw 24 $m campaigns this week with a seller disconcerting 10 passed in at auction. That is a clearance rate of 58% and the main reason the overall James Clearance Rate is as weak as it is today. Why? Price is why? Many vendors [...]
South Yarra, Prahran, Toorak, Armadale, Malvern and Malvern East

South Yarra, Prahran, Toorak, Armadale, Malvern and Malvern East

Little to report on the $m front interest after a huge October for most Stonnington agents. Plenty of choice over the next 3 weeks with 24 and 29 Auctions $1m auctions planned for the last 2 weeks in November. Private Sales 36 Heyington Place Toorak was sold by Tom Staughton and Mike Gibson of Kay and Burton. Assuming a complete [...]
Mixed results but overall still strong.

Mixed results but overall still strong.

Surprisingly Malvern East’s Gasgoine Estate was dead as a doornail today with 3 pass-ins from 3 homes (0% clearance); as was Toorak with only 1 from 5 selling or 20% clearance rate but everywhere else was very strong. Overall Stonnington which covers Armadale, Malvern, Malvern East, South Yarra, Toorak and we include [...]
In the trenches: report on million-dollar Melbourne

In the trenches: report on million-dollar Melbourne

It is 6pm Saturday and the James Auction Clearance Rate on the 32 $1m+ properties we attended and reported on today was 72 per cent. The REIV’s clearance rate was declared at 82 per cent but they are missing around 200 auction results and our guess is the clearance rate has dropped below 80 per [...]
Bidders, Bidders, Bidders

Bidders, Bidders, Bidders

There are a huge number of auctions and private sales in Stonnington this week and next week. The most dominating number is 3.875 – that is the average bidders at auctions we reported on below. 31 bidders at 8 auctions. Stock has increased and bidders numbers have actually risen substantially. Here are [...]

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