Strong Clearance Rates considering the big numbers of auctions. Yes it has eased, but Bidderman still looks to have some legs.

BY Adam Woledge 29th May 2010

Camberwell 26 Alma Road: Bought $1,615,000. Bang! 5 bidders. Richard Jellis. Good to see the 'ol tiger back prowling around.

In contrast to last week, we saw all 9 properties we covered over $1,000,000 today, sell. Three sold before auction, 3 sold under the hammer and 3 were bought after. That’s a 100% clearance rate and Bidderman was back up to two.

Five of the nine properties had two or more bidders. Richard Jellis of Jellis Craig had 5 bidders at 26 Alma Road Camberwell. 3 Bristol Street Surrey Hills (Antony Woodley Marshall White) also had good bidding strength, with three bidders taking the price to tick over $2,000,000. Steve Burke of Jellis Craig sold 71 Broadway in Camberwell with a strong result just over $3,700,000. Sure it needed a bit of work, but had very good land content. 12 Lorne Grove Camberwell (Peter Batrouney and Campbell Ward) next weekend will be interesting.

3 Bristol St Surrey Hills James Auction Report A real highlight auction of the year for me. Auctioneer Antony Woodley and team were in magnificent form facing a strong crowd of 100. Mr Woodley addressed neighbours watching from the luxury of their veranda and promised them he would find them “some new neighbours.” The bidding commenced with pace, opening with a genuine bid of $1,650,000 enticing another bidder. Mr Woodley put in a vendor bid of $1,700,00 and things set sail. Some determined bidding took place between the two and at $1,990,000 it looked like it was a day as one bidder bowed out. When it seemed every last possible chance had gone by a “very brave” fresh bidder had a say elevating the tension. At $2,050,000 the property was selling and bought to loud applause and squeals of joy from the buyers. A job well done. Julia Atkinson

24 Kingsley Camberwell with Jellis Craig’s Richard Winneke passed in for $2,100,000 but sold afterwards for $2,150,000 (resold from late last year when purchased for $2,000,000)..

27 Harcourt Hawthorn East with Rob and Tim Fletcher of Fletchers was bought for $2,300,000 after passing in at $2,125,000. Both were good blocks about the same land size (700-800 sqm) with a home that needed some work but was livable . Tim went onto say he thought this market pause was all about the huge stock levels available and claimed his company had sold 13 from 14 today. He did state he felt the market dynamics had changed in 3 weeks.

40 Kinkora Road Hawthorn (Richard Earle Jellis Craig) was bought after auction for $2,650,000. This was similar to number 28 which sold last week but needed work. The price reflected this.

Marshall White & Jellis Craig both had a good weekend. Marshall White’s Justin Long said they had 38 auctions and about 80% clearance rate, and Richard Jellis of Jellis Craig advised they had 48 auctions with around 80% as well.

Boroondara Auction Results – 46 monitored – 32 bought – 70% clearance rate

		Passed In	Bought	Not Reported
GLEN IRIS	13A Richards Avenue	880,000
KEW	48 Malin Street	900,000
GLEN IRIS	56 Queens Parade	980,000
BALWYN NORTH	14 Dumblane Street	1,010,000
SURREY HILLS	64 Croydon Road	1,050,000
GLEN IRIS	98 Bath Road	1,200,000
MONT ALBERT NORTH	2 Chessell	1,200,000
BALWYN NORTH	35 Hatfield Street	1,300,000
GLEN IRIS	67 Rowen Street	1,320,000
KEW	136 Princess Street	1,340,000
MONT ALBERT NORTH	384 Belmore Road	1,450,000
KEW	9 College Parade	1,875,000
HAWTHORN	2a Glen Street	2,000,000
HAWTHORN EAST	10 Cole Street	2,400,000
BALWYN	45 Nungerner Street		Undisclosed
BALWYN	5 Parkside Avenue		Undisclosed
BALWYN NORTH	7A Sweyn Street		955,000
BALWYN NORTH	2 Wandeen Street		1,191,000
BALWYN NORTH	100 Panoramic Road		1,550,000
BALWYN NORTH	17 Osburn Avenue		1,410,000
CAMBERWELL	24 Kingsley Street		Undisclosed
CAMBERWELL	26 Alma Road		1,612,500
CAMBERWELL	19 Davis Avenue		1,650,000
CAMBERWELL	20 Stornoway Road		Undisclosed
CAMBERWELL	106 Warrigal Road		1,110,000
CAMBERWELL	71 Broadway		Undisclosed
CAMBERWELL	37 Currajong Avenue		Sold Before
CANTERBURY	19 Wentworth Avenue		Sold Before
CANTERBURY	132 Mont Albert Road		Undisclosed
GLEN IRIS	1 Seaton Street		1,150,000
GLEN IRIS	19 Madeline Street		Undisclosed
HAWTHORN	1/79 St Helens Road		Undisclosed
HAWTHORN	3 Marian Street		Undisclosed
HAWTHORN	40 Kinkora Road		Undisclosed
HAWTHORN	88 Elgin Street		1,100,000
HAWTHORN EAST	39 Mt Ida Avenue		2,080,000
HAWTHORN EAST	27 Harcourt Street		2,300,000
HAWTHORN EAST	36 Station Street		1,035,000
KEW	2/181 Barkers Road		Sold Before
KEW	39 Eglinton Street		1,252,500
KEW	69 Denmark Street		Sold Before
KEW	180 Princess Street		1,115,000
KEW EAST	21 Elm Grove		1,070,000
MONT ALBERT NORTH	36 Williamson Road		1,000,000
MONT ALBERT NORTH	3 Watson Avenue		1,090,000
SURREY HILLS	3 Bristol Street		2,050,000
SURREY HILLS	181 Union Road		2,765,000