Armadale 5 Glassford: Justin Long of Marshall White: 3 bidders and bought under the hammer for $2,350,000.

Key Points

• Fall in Clearance Rate today
• Stock offering not as good as October 23rd
• Very little new stock in this week owing to Melbourne Cup in 4 weeks
• A lot of off market on offer
• $3m+ homes have come on in big numbers compared to winter

Biggest sale

5 Glassford St, Armadale, Justin Long, Marshall White, Under the Hammer $2,350,000
“Good solid crowd full of anticipation waited for Justin Long to start proceedings on this sun filled day. And bang straight out of the blocks with a hopeful $2million bid. Bang again 2nd bidder and we were off. This auction was a funny one – not funny ha ha – funny strange – nobody followed Justin’s bidding suggestions but things flew along anyway – especially when a third bidder joined in. This sight was a natural amphitheatre and there was a clear echo of everybody bids and Justin’s comments – sort of like a sound system out of sync. Anyway things were just warming up when the half-time break was called and to the surprise of many it was announced on the market and to everybody’s further surprise it was bought under the hammer for the same amount. The surprise was because this was a Marshall White auction and they tend to pass-in everything – however please this was the right thing to do – 3 active bidders and so market price was paid. A good fair auction.” (Mal James)

BidderBuzz auction of the day

Toorak 1/693 Toorak Road: Rodney Morley, TBM Woodards: 4 Bidders: Bought under the hammer: $1,460,000

Rocket Rodney was his usual bursting with energy self. He really does know how to make an auction zing and keep a crowd entertained . The occasional, as he puts it, politically incorrect joke combined with a couple of subtle digs to get the recalcitrant bidders moving and we more often than not have the makings of one of life’s little moments of enjoyment. 1/693 Toorak was no different – opened up at $1,200,000 and then strong bidding until it was on the market around $1,360,000 and bought for $1,460,000. 4 bidders and a good buy. Rodney is what you want in an auctioneer – flamboyant, fun and fair. Check out Rodney’s auctions – they are often better than Foxtel. (Mal James)

Agent Q & A:

October 23 is Super Saturday – What can we expect?

Gerald Delany, Kay & Burton, Toorak: “October 23 will see a big supply of property on offer. The confidence in the market will see the supply absorbed and we expect to enjoy a strong market through the spring. The economic confidence we are experiencing continues to carry through to property.”

John Bongiorno, Marshall White, Armadale: “Stock levels are a bit like a roller coaster – the following couple of weeks after Super Saturday see stock levels fall again so hence I believe it will be business as usual on the 23^rd.”

James Redfern, Marshall White, Armadale: “At this stage, compared to this time last year, we are seeing less property coming onto the Spring market….therefore I would suggest we should see good quality property still very much ‘in demand’ with buyers looking for quality homes in good locations. We might see however a late November / December rush of stock coming onto the market.”

Iain Carmichael, BenMac, Armadale:“I believe clearances should be good next weekend irrespective of the large number of properties on the market, attendance’s at open for inspections have all been good. What we will see after next weekend is a clearer picture as to where the market actual is at this point of time. Melbourne is the auction capital of the world and what an exciting weekend it will be.”

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