BY Mal James 2nd April 2011
At 6pm on Saturday the James Clearance Rate for the 35 $M+ auctions we covered was an almost icy 46%. Bidderman today remained at a market cooling 1.4 bidders per auction - so we seem to be now firmly in the grip of the Winter chill.
BY James Buyer Advocates 19th March 2011
Key Points:
Both Jellis Craig and Marshall White report very strong clearance rates into the 80s
Stock continues to come onto the pre Easter market – the question is whether the market will be able to sustain this
James Tostevin: “Overall a good day, the $3m+ market is hard to read and we are not getting huge numbers [...]
BY Mal James 19th March 2011
Key Points:
Off Markets, Forthcoming Auctions and Expressions of Interest are increasing as market stock levels begin to rise dramatically.
Nobody bid at the 19 Kingston St Malvern East auction (Iain Carmichael) at $4,250,000 but 2 bidders emerged post auction and fought it out afterwards to a price well in excess of the reserve and well in [...]
BY James Buyer Advocates 19th March 2011
Key Points:
The level of market softness outside the heart of Brighton surprised most
Brighton 29 St Ninians: Passed in on a vendor bid of $7,300,000.
Brighton 18A Martin: Passed In for $3,300,000. 1 bidder.
On a buying note the Golden Mile in Brighton is still alive and well with Regina Schmidt and Brian Devlin from Buxton getting 2 [...]
BY James Buyer Advocates 19th March 2011
Key Points:
Port Phillip the star performer today and especially solid in that early one million bracket
Bidder depth would be best described as shallow except for the Volcano (4+ bidder auction) at 76 Blessington St St Kilda with Greg Hocking – see report below
Agent Q & A:“What is your take on the Economist’s article that Australian [...]
BY Mal James 28th February 2011
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
BY James Buyer Advocates 26th February 2011
Agent Q & A:
“Do you feel there is currently a big difference in the results of sales of lower end ($1m) properties as opposed to those of higher end ($2m+) homes?
Yes or no, and why?”
David Lack, Biggin & Scott, Port Melbourne: “Properties in the $1m to1.5m range are being well inspected and eagerly contested, whilst properties [...]
BY Clare Hughes 26th February 2011
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 [...]
BY Mal James 4th December 2010
At 6pm on Saturday the final James $M+ Clearance rate for the year on the 35 auctions we covered was 69%. You may be interested to remember that back in our first Marketnews report for 2010 it was 83%. Those figures point to the year that was.
Bidderman, our demand indicator, was a strong 2.1 bidders per [...]
BY Mal James 1st December 2010
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 [...]
BY Mal James 27th November 2010
Key Points:
Clearance Rate hovering around 60%
James Connell MD of Marshall White: Clearance Rate expected around 80% with quality stock well supported and a bit more zing this week than the last fortnight.
Price Check: 2 Bromley Toorak (off Albany and a court) $5,600,000 for 941 sqm = $5941 per sqmetre. That is solid [...]
BY James Buyer Advocates 27th November 2010
Highlights:
Hampton’s Golden Triangle continues to perform very strongly with 3 Lorraine Hampton (Nick Johnstone of JP Dixon) over $3,000,000; 23 The Avenue Hampton (David Hart of Buxton) $2,350,000 and fringe there but actually Brighton Beach – 10 Menzies Brighton (Sam Paynter of Hodges) $2,600,000. These, the three buys at this level we reported a few [...]
BY Mal James 24th November 2010
Market value is useful when considering capital growth, however unlike with the share market, the market value of a property is often more a concept than an exact figure – and everybody has their own ‘recipe’ for how to go about it. But there are three consistent ‘ingredients’, that agents use to get a sense [...]
BY Mal James 17th November 2010
While the value you place on a property is ultimately the most important factor in influencing what you are prepared to pay, you also want to know its market value. But how do you know what that is? Is there some secret market value formula?
No there is no single definitive “sticker price” market value figure [...]
BY Mal James 13th November 2010
At 4.30 pm our James $M+ Hammer Rate (bought at auction) was 44% on the 36 auctions we attended. At 8pm our $M+ Clearance rate (which also includes properties bought before and after auction) was 58%.
Bidderman, our Demand Indicator, was 2 bidders per auction (a figure that was distorted somewhat by including two properties slightly [...]
