jameshomeratings

Inner City bidder numbers down

Clifton Hill 40 OGrady: Bought under the hammer for $1,190,000. 3 bidders. Craig Shearn moving proceedings along.

Clifton Hill 40 OGrady: Bought under the hammer for $1,190,000. 3 bidders. Craig Shearn moving proceedings along.

Well, after a few weeks of modest bidders numbers I think its fair to say that the market is softening in the inner city.

Softening in terms of bidder depth (bidderman at 1.7) and a much higher degree of buyer discretion.

Russell Cambridge of Biggin and Scott said:  “whilst bidder numbers and open attendance numbers are falling this is normal as we move into the winter months” and “despite the reduction in bidder numbers we are not seeing a reduction in price as demand is still quite healthy” this is no doubt backed up by the fact Biggin and Scott sold 6 out of 6 today.

Clifton Hill was equally as strong with most properties selling well. 4 Dywer Street, (Roland Patterson of ) a two bedroom single front, sold for $895,000, with 4 bidders,  a strong result and an argument to say prices are still appreciating slightly in that area. Conversely 40 O’Grady Street (Nicolas Corby of ) a three bedroom single front with all the right attributes sold for $1,190,000, 3 bidders, now that is good buying and could suggest that prices are softening in that area.  These properties are only a few streets from one other, Conclusion….?

Tom Roberts of Nelson Alexander had a big one today at 571 Canning Street, Carlton North. 200 people turned up to watch this grand terrance go under the hammer. Bidding opened at $2,500,000, and two bidders moved it slowly to $3,250,000 at which point the property was passed in. Mr Roberts sold 5 from 6 today and indicated that market is hot and warm depending on price points.

Inner (Yarra) Auctions

Inner Melbourne (Yarra) – 11 monitored – 8 bought – 73% clearance rate

Passed In Bought Not Reported
FITZROY 6/32 Kerr Street 940,000
EAST MELBOURNE 2/31 Agnes Street 1,200,000
CARLTON NORTH 571 Canning Street 3,250,000
CLIFTON HILL 21 Turnbull Street 1,090,000
CLIFTON HILL 40 OGrady Street 1,190,000
CLIFTON HILL 4 Dwyer Street Undisclosed
EAST MELBOURNE 153 Gipps Street 985,000
RICHMOND 22 Stawell Street 910,000
RICHMOND 22 Stanley Street 1,200,000
RICHMOND 174 Stawell Street Undisclosed

Know your market

Richmond 22 Stawell: Passed In $900,000. 2 bidders. Scott Patterson, Clayton Smith and Hayden Reed in action.

Richmond 22 Stawell: Passed In $900,000. 2 bidders. Scott Patterson, Clayton Smith and Hayden Reed in action.

730
/1000
JAMES HOME RATINGS
40 OGrady Street
3
1
2
263sqm
        On a cloudy day, with the possibility of rain, the crowd gathered round to see auctioneer Craig Shearn start t...
Bought: $1,190,000
583
/1000
JAMES HOME RATINGS
22 Stawell Street
2
1
0
262sqm
        This auction worked in three parts: Part 1 was silent and slow, seeing auctioneer Scott Patterson doing all th...
Bought: $910,000
View all 36 of this week's $Million Plus Featured Auction Reviews

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