John "The Boss" Morrisby (Marshall White) can sense a sale in the air. 11 Evandale Rd, Malvern, bought after for an undisclosed amount over $1,550,000. Two bidders.

Key Points:

• Only two from the nine we attended were bought under the hammer, however five from the nine were bought after auction
• Big improvement on Clearance Rates on reasonable number of monitored auctions (21 $M+)

$3m+ sales this week:

• 1 Myamyn Street, Armadale – Andrew Macmillan of Bennison Mackinnon ($3,215,000)
• 6 Bonview Road, Malvern - Peter Bennison of Marshall White (0ver $3,600,000)
• 1 Hopetoun Road, Toorak – Justin Long of Marshall White (over $5,500,000)
• 15a Sorrett Avenue, Malvern (Passed In from several weeks ago) – Andrew Hayne of Marshall White (over $3,200,000)
• 19 Acland Street, South Yarra – Warwick Anderson and Greg Herman of RT Edgar ($3,600,000)
• 1a Como Ave, South Yarra – Michael Ebeling and Jeremy Fox of RT Edgar (over 6,o00,000)

A funny thing happened at an auction:
1 Hopetoun Rd, Toorak, John Bongiorno, Marshall White, Bought after, undisclosed amount:
Those that were there for the Hopetoun Road auction and left quickly would say “Hey Jack – nice suit, reasonable spiel – dud auction”. Those that hung around would say, when they heard it was bought and at a price believed to be well in excess of the vendor bid, would go “Hey Jack – nice suit, impressive post-auction manner, great result”. John Bongiorno and Justin Long, Marshall White.” (Mal James)

Agent Question: How are you finding the market?

Peter Kudelka, Kay & Burton: “People are sitting on their hands. If I hear one more time `I’ll wait and see’, then I think I’ll go mad! What are people waiting for? (Editor note: this was said with Peter’s typical dry sense of humour but it was an honest reflection – we like those that don’t spin) Buyers are out there and will make an offer, but not with the sense of desperation as per earlier in the year, and they feel if they don’t get it, then there will be another because the market is not really advancing. It has plateaued. Upper end apartments are still slow, except under a million. Investment stock is selling well. Apartment buying goes in waves and it is always interesting to see when the next wave is. The election has given people an excuse not to make decisions.”

Bidderbuzz Auction of the Day:
19 Acland St, South Yarra, Warwick Anderson, RT Edgar, 4 bidders: “After a day of pass ins and relatively low attendances, it was nice to attend an auction with multiple bidders all looking to secure a fine property in a much sort after area. Four keen bidders kept auctioneer Warwick Anderson’s attention as they showed their interest early, bidding strongly and quickly looking for that knock-out blow. It came fifteen minutes later for a price of $3,600,000.” (Guy Angwin)

Clearance Rates & Monitor Table:

We Only Buy Homes

John "Jack" Bongiorno (Marshall White) braves the wind and the rain at 6 Bonview Rd, Malvern. 3 bidders, bought after for an undisclosed amount in excess of $3,600,000.