Scott "Pretty Boy" Patterson (Jellis Craig) fields bids from five bidders before 60 First Ave, Kew, is bought under the hammer for $1,205,000. Check out our video on this auction.

Key Points:

• We covered nine auctions, three bought under the hammer, 2 post auction and 4 passed in
• Jellis Craig had an 80% Clearance Rate today
• Big numbers of $M+ auctions today – 42 monitored
• Bidderman is over 2 on a day when we monitored over 40 $M+ auctions in Boroondara. That’s “strongish.”
• Surprisingly Camberwell only 4 from 10 and some that passed in were good offerings eg 8 Canterbury and 46 Brinsley
• Hawthorn and Hawthorn East 7 from 8 bought.

Agent Comments: The election question

Steve Burke, Jellis Craig, Hawthorn: “A large number of vendors have waited for the election to be over on August 21 and unfortunately as we know there has still been no resolution as yet. Those currently selling now have timed it well because there isn’t the usual volume of stock in the Boroondara market that there usually is this time of year and less competition creates a greater concentration of buyers at the auction and higher selling prices on the day. We saw this last weekend at 56 Manningtree Road Hawthorn where we had 5 bidders, 2 investors and 3 owner-occupiers. We are expecting that the Spring market will start later once things have settled down and the Federal government has been decided and continue right through to Christmas.”

Tom Ryan, Jellis Craig, Hawthorn: “While on our car runs, viewing new stock I have been pleasantly surprised by the amount and quality of homes about to hit the market in Spring and in particular there have been a number of good quality family homes.”

Hamish Tostevin, Marshall White, Hawthorn: “In regard to the election, there has been nothing in last couple of days – no different to the last couple of weeks. Open numbers were the same as previous weeks around 10 to 20 but Melville St had 50. The election will not do that much. Volume  may be back a little already and uncertainty (with government) will not help or have an impact on (the market).”

Chloe Quinn, Jellis Craig, Hawthorn: “Certainly people will raise that concern (that the election has effected the market) but to be honest we had high numbers of people at our open for inspections and auctions last weekend on the day of the election. Because of the election, people are actually in Melbourne. If people want to buy a home then the potential change of political parties isn’t going to effect them getting their house, they’ll make it happen.”

BidderBuzz Auction: 60 First Avenue Kew; Scott Patterson Under Hammer $1,205,000  5 Bidders
A fantastic auction from Auctioneer Scott Patterson and the Jellis Craig crew – Richard Winneke and Chloe Quinn. Mr Patterson commenced with a vendor bid of $980,000 as the crowd of 50 stood silently. Only one bidder piped up before half time. A little rain, a little break and the crowd were fired up. Five bidders in total, the selling price was called at $1,090,000 and the property was bought under the hammer to the enthusiastic buyers at $1,205,000. Great vibe, great auction. 

Clearance Rates & Monitor Table:

Mark "Lama" Dayman (Marshall White) does his best to drum up some interest from the crowd at 51 Leura Grove, Hawthorn East, but with only one bidder is forced to pass the property in at $1,725,000.