Carlton: 26 Argyle Place: Bought $1,120,000. Bidderman 4. Antony Woodley shares a joke with bidders in Carlton -one left enjoying the joke and 3 left not thinking it was funny.

With almost 4 bidders at every auction its hard to see this market slowing down. Crowd numbers are up, Bidderman is up and you guessed it prices are strong.

However it was the tale of two properties in Argyle Place Carlton with 11 Argyle Place (Phillip French RT Edgar) passing in for $2.25 million without a single bid whilst 26 Argyle Place (Andrew Simondson Collins Simms) sold very well with 4 bidders and well above the reserve.

Another indicator that the market is strong is that main road properties are selling under the hammer and selling well. Case in point was 185 Nicholson Street, Carlton (Ben Harrison Hocking Stuart) which sold for $1.017 million, 4 bidders in total with 3 fighting it out above $1 million. Very good Result for the vendor.

Nicholas West of Nelson Alexander reported a 95% clearance rate across the board. He indicated that good quality homes are in strong demand with a good depth of buyers. Mr West also added  ”Price are so hot at the moment that sales over three months old are not relevant when trying to determine today’s value” and, “what is quite daunting is that post Easter there is likely to be a reduction of supply which will put more pressure on prices”

The auction at 833 Brunswick Street, Fitzroy North (James Keenan Nelson Alexander) typified market condition with 5 bidders -  3 bidders still in the race after the property was announced on the market at $1.3 million. Congratulations to Tom Roberts for a very entertaining auction.

Andrew Gibbons from Hocking Stuart indicated that investors are coming back to the market in the Richmond area. Mr Gibbons also added “market conditions are strong with at least 2-3 bidders at every auction” and ”clearance rates are also high due to more accurate quote ranges and strong demand”

Know your market!