Hmmmm this maybe a pass-in! It was, but quickly sold afterwards: Richard James aka "No Relation" of Jellis Craig: Balwyn North 68 Corhampton: Bought $1,085,000: 2 bidders.

Key Points

• Strong Monitored Clearance Rate (79%) on reasonable numbers today -  auctions running at about a third to half of May peak on any given Saturday
• Increase in Top End properties on and off market in key suburbs like Canterbury, Camberwell, Kew and Hawthorn
• Still two sales over $1million every day of July – although only three reported to be over $3million for the whole of the month
• Today’s BidderBuzz Auction was with Doug McLauchlan at 42 Gardiner Glen Iris, with 6 bidders – see report below

Agent Comments

Peter Batrouney, Jellis Craig:”Not sure we will see spring as bountiful as it was in May – but will have to see – people are holding back – mainly due to the election. Will have to wait and see; Have not been as many family  homes with the “wow” factor as years gone by – but they are still around; Building has not stopped but there is an absence of those – many things have happened over recent years (ie the GFC) which has made access to  borrowing harder. There are a few really good properties hitting market – when they do they can really achieve good results.”

Richard Earle, Jellis Craig: At present Spring feels like it’s not going to boom with bountiful stock.  (Richard was talking about $3m and above and said $1m to $2m is still healthy and rocking along). $3m+ vendors are still distracted by in part the election, possibly interest rates and concern over economy. Traditionally Spring is good and in sync with school year by selling late in the year and settling early in the new year.  Good numbers through open indicating buyers like the stock right now. If quieter in Spring then prices will firm up even possibly rise. Not seeing Wow properties. Why? Those that don’t have to sell aren’t. Dynamics are changing.

Land Value Indicator

• 117 Winmalee Road Balwyn (Tori McGregor of Christopher Russell) was bought for $1,450,000 or exactly $2000 per sq metre. Premium? Sought after precinct! Views?

Clearance Rates & Monitor Table

Buying Activity

We Only Buy Homes

BidderBuzz Auction: Doug McLauchlan, aka "The Gentleman", whips 6 bidders into a frenzy: Glen Iris 42 Gardiner: Bought $1,767,500.