A $4 million home selling under the hammer in Stonnington has become a rare bird. It happened today with Gerald Delany and Mike Gibson of Kay and Burton. 11 Moorakyne Malvern. 3 bidders

Key Points

• Good crowd numbers at auctions
• Standout sale was at 11 Moorakyne Malvern - see above.
• BidderBuzz Auction -  6-8 The Boulevard Malvern East with Mark Williams – 4 bidders – see report below.
• Not as much WOW higher end stock on the market as, say, Boroondara – not officially anyway
• Increase in Off Market offerings – not sure how many are selling though.
• Agents are reporting almost all auction results
• 33 $M+ sales reported in July – about 1 in 6 sales in Stonnington are over a million.

Agent Comments on Spring Stock Levels

Andrew Hayne, Marshall White: “Stock levels are low at the moment and there is limited stock coming on for spring – perhaps a result of strong stock levels in May and June”.

Rae Tomlinson,  Marshall White: “Increasing stock levels - market looking healthy overall as expected coming into spring; Yes there a few family homes with the “wow” factor which are, of course, resilient to any market (if done well of course); Building is getting harder for developers – banks have tightened up considerably – having  said that there is good bit of building activity presently in the areas we cover.”

Carla Fetter of Bennison Mackinnon: Patchy now and Spring stock levels also looking patchy. Few Wow properties around at present.

Clearance Rates and Monitor Table

Reported Buying Activity for July

We Only Buy Homes

Lovely auction scene at 1 Vickery St Malvern East. Andrew McCann of Benmac presiding. Bought under the hammer for an undisclosed amount. 3 bidders.