Dear Buyer God - we may need your help in Boroondara again please.

Dear Buyer God – we may need your help in Boroondara again please.

BY Adam Woledge 4th September 2010

He is loud, uncompromising and highly opinionated. He is also charming, hard working and effective. He is Tostevin and he is a machine. Come with me, come with me, he demands of two $7 million bidders at 49 Harcourt Hawthorn. And they did!

Key Points:

Of the 10 auctions we attended in Boroondara on Saturday, all but one either sold under the hammer or was bought after auction.
Canterbury 7 from 8 over a million were bought at auction today.
Highlight auction was 49 Harcourt Ave, Hawthorn East, James Tostevin, bought in excess of $7 million.
Weakest areas were Balwyn and Balwyn North, with only 5 from 10 selling.
35 purchases over $1 million in Boroondara this week.

Celia St, Glen Iris We love watching Celia Street Glen Iris blocks sell – they are very similar, sell regularly and show you how the market works.

Agent Comments:
Michael Ebeling, RT Edgar: “There are still buyers there for the good quality houses, and there are one to two buyers per property. But since March it has probably leveled off. I think this is due to external factors from overseas, ie the way Europe is regarding debt levels – people are being more cautious because of this. As for offers before auction, we had maybe one per property late last year but may have had two or three (recently). Bidder numbers have thinned out a little big. For example Washington had two bidders, yet five interested parties.”

Chris Burne of Marshall White: “Market is healthy and the real shortage in Boroondara is for family homes at all price levels.”

Bidderbuzz Auction for the day, 12 Barry St, Kew, Alastair Craig, Jellis Craig. Bought under the hammer $1,925,000, 5 bidders.
“There was lots of fierce, intense competition at this auction conducted by Alastair Craig. Proceedings commenced promptly with a $1,500,000 bid coming forth from the 80 people present, and it did not take long for the property to be declared on the market at $1,650,000. At this point, the bidding stepped up a notch with two very determined bidders vying for the prize. When the price hit $1,902,000 and it appeared to all the hammer was about to fall, a last minute bidder emerged. This drew gasps of surprise and shock from the audience and pushed the final selling price to $1,925,000. Overall a very hot auction, with 5 bidders, netting a strong result for the Jellis Craig team.” (Amy Wong)

Monitor Table:

BALWYN	22 Yongala Street		Passed In
BALWYN	26 Bevan Street		Passed In
BALWYN	2 Crest Avenue	undisclosed	Bought
BALWYN	15 Hertford Crescent		Bought
BALWYN	12 Peverill Street		Passed In
BALWYN NORTH	320 Balwyn Road	$1,360,000	Bought
BALWYN NORTH	41 Doncaster Road		Bought
BALWYN NORTH	14 Vega Street		Passed In
BALWYN NORTH	12 Helston Street		Passed In
BALWYN NORTH	37 Belmore Road	$1,227,000	Bought
CAMBERWELL	31 Radnor Street	$1,672,500	Bought
CAMBERWELL	55 Seymour Grove	$1,620,000	Bought
CAMBERWELL	36 Brinsley Road		Passed In
CANTERBURY	1 Chaucer Crescent		Bought
CANTERBURY	25 Milton Street	undisclosed	Bought
CANTERBURY	23 The Ridge	undisclosed	Bought
CANTERBURY	4 Claremont Crescent		Bought
CANTERBURY	5 Chatham Road	undisclosed	Bought
CANTERBURY	46 Chaucer Crescent		Passed In
CANTERBURY	5 Cooba Street	$1,620,000	Bought
GLEN IRIS	54 Celia Street	undisclosed	Bought
GLEN IRIS	49 Kyarra Road		Passed In
GLEN IRIS	76 Bath Road		Passed In
HAWTHORN	89 Elgin Street	undisclosed	Bought
HAWTHORN	12 Malmsbury Street	undisclosed	Bought
HAWTHORN	12 Dean Avenue	$2,600,000	Bought
HAWTHORN	2 Belgrave Street	$1,190,000	Bought
HAWTHORN EAST	49 Harcourt Street	undisclosed	Bought
HAWTHORN EAST	6 Mount Ida Avenue		Passed In
HAWTHORN EAST	809 Toorak Road		Bought
KEW	101 Normanby Road	$1,650,000	Bought
KEW	12 Barry Street	$1,925,000	Bought
KEW	114 Princess Street		Passed In
KEW	154 Wellington Street		Passed In
KEW	5 Weir Street	$1,950,000	Bought
KEW	4 Davis Street	$2,527,000	Bought
KEW	101 Normanby Road	$1,650,000	Bought
KEW	101 Derby Street	$950,000	Bought
KEW EAST	23 Coleman Avenue	undisclosed	Bought
MONT ALBERT	15 Louise Avenue	$1,825,000	Bought
MONT ALBERT	13 Black Street		Passed In
SURREY HILLS	3 Glendale Street		Passed In
SURREY HILLS	32 Wharton Street	$1,290,000	Bought