C'mon Baytonians, cheer up it's Spring.

BY James Buyer Advocates 4th September 2010

Leigh Hallamore (Buxton) didn't have to appeal to the heavens for bidders so it must be an attempt to ward off the rain! 68 Head St, Brighton, 5 bidders, bought under the hammer for $2,255,000

Key Points:

If you remove the biggest result (68 Head St, Brighton, Leigh Hallamore, Buxton – five bidders, bought under the hammer for $2,255,000) we only had one live bidder at the other 5 auctions we attended.
However mainstream Brighton and Hampton are performing better than fringe $M+ Bayside such as Beaumaris and Sandringham
One saving grace is the stock quality is low – the most common James Home Rating on the homes auctioned today was in the 500′s/1000 which is a below average score. See how ratings works: http://www.james.net.au/ratings.php
Golden Mile beachfront: The big one at the end of Head Street (no 6) was finally bought for around $7,000,000 through Jeremy Fox of RT Edgar. James Rating 822/1000. Check out our full comments and June auction report at http://www.james.net.au/rating/6-Head-Street-BRIGHTON

Analysis: It’s all about overhang – reduce the stales (unsolds) and the market can improve – if the market doesn’t do this and October sees another burst of stock then it will be unpleasant for sellers and good for buyers.

Agent Comments:
Nick Johnstone, JP Dixon, Brighton:“Things have been a bit tough, but as we head in to Spring buyer inquiries have increased and interest overall has increased so you could say that with the onset of Spring, I have seen a turn in the market.”

Sturt Hinton, Kay & Burton, Brighton: “We have had good sales, but there is less stock coming onto the market at the moment for Spring.”

Julian Augustini, Hodges, Sandringham: “There are lower levels of family homes coming on to the market at the moment, and some solid sales as a result.”

Bidderbuzz Auction for the day: 68 Head St, Brighton, Leigh Hallamore, Buxton, Five bidders.
“A 100 strong crowd, many of whom were interested onlookers, awaited this Brighton auction. There was a chatty convivial vibe despite the poor weather. Leigh Hallamore was energetic in his approach and with a bid of $1,500,000 from within the crowd the auction was off to a flying start. Five bidders were vying for this property with Mr Hallamore getting an aerobic workout as her swivelled from one bidder to the next, spread out in the crowd. The property was bought under the hammer for $2,255,000 to a round of applause. A great result.” (Sue Agnoleto)

Clearance Rates & Monitor Table: This week we are highlighting the tale of two cities: Boroondara v Bayside

BEAUMARIS	272 Balcombe Road	$980,000	Bought
BEAUMARIS	1 Te Hongi Court		Passed In
BEAUMARIS	1 Scott Street	$1,035,000	Bought
BRIGHTON	7 Osborne Close		Passed In
BRIGHTON	52 Martin Street	undisclosed	Bought
BRIGHTON	3 View Court	$1,450,000	Bought
BRIGHTON	2/17 Foote Street		Bought
BRIGHTON	19 Oakwood Avenue	undisclosed	Bought
BRIGHTON	289 New Street		Passed In
BRIGHTON	68 Head Street	$2,255,000	Bought
BRIGHTON	494 New Street		Not Reported
BRIGHTON	17a Meek		Passed In
BRIGHTON EAST	61 Milroy Street		Passed In
BRIGHTON EAST	286 North Road		Passed In
HAMPTON	60 Orlando Street	$1,355,000	Bought
HAMPTON	46 Thomas Street	$1,850,000	Bought
HAMPTON	11 Willis Street	undisclosed	Bought
SANDRINGHAM	31 Tennyson Street		Passed In
SANDRINGHAM	3/33-35 Melrose Street		Passed In
SANDRINGHAM	18 Green Parade	$950,000	Bought
SANDRINGHAM	45 Duncan Street		Passed In