BY MAL JAMES 9th April 2011
MALVERN EAST, 72 Kerferd St: A large crowd gathered for the auction of this Gascoigne Estate home, but there was no sale. John Bongiorno (Marshall White), passed in, $2,800,000, no bidders
Key Points:
- A lot on offer in Stonnington today with 42 auctions monitored over a $m with 22 homes over a million bought.
- Although there was a lot on offer – it was a mixed bag quality wise.
- If there is such a thing the good home clearance rate index would have shown a better result than the stats.
- It was a case of a lot of the good stuff sold, some of the good stuff didn’t and much of the overpriced and/or rubbish got what it deserved – zilch.
What sold well
- South Yarra 43 Marne St: Nicole Gleeson of Kay and Burton: Well over the $12,000,000 quote range making Domain Precinct land values at $8,000 per sqm for the bigger blocks. Private Sale mid week
- 54 Stanhope Malvern with Rae Tomlinson under the hammer for $3,170,000.
- 1073 Malvern Road Toorak (Justin Long) passed in at $3,225,000 and a reserve was offered – not taken up – two new bidders appeared and a second auction took place resulting in a sale well over the pass in figure.
- Malvern East – 13 Chanak with Maddie Kennedy and John Manton of Marshall White – great “feel” home but tougher location being fringe Gascoine to get the $2m plus number – it got it.
- Toorak – 3 May – Richard Hornidge of RT Edgar – a bit of a dog single fronted needing a reno but was priced sensibly – bought for $1,055,000.
- Toorak – 1a Nareeb Court – Matthew Wassylko of Marshall White – 0 bidders last year, this year 3 bidders and was bought for $2,940,000.
What didn’t sell well
- Luxury Apartments seem to have ground to a halt – one big exception 2701/368 St Kilda Road Melbourne $3,410,000 – Marcus Chiminello – No real capital growth there, but at least it sold.
- Toorak – 3 Denham – Courageous price expectations?
- Malvern – 225 Tooronga – Difficult location?
- South Yarra - 3 Shipley – Good home and garden but some Punt Road noise and some overlooking?
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GLEN IRIS (Stonnington), 51 Aintree Rd | Andrew Hayne (Marshall White)
Under Hammer: $1,434,500 - 5 Bidders (Photo: Mal James)
Bidderbuzz Auction
"As the wind blew up a little, the question came to mind - why shouldn't this little timber Edwardian do anything other than rock along strongly? Looking around at the mid-sized crowd of around 60, it looked like a buyer advocate convention with each one giving a polite nod to the other (or not) and then retreating back into their armor, no doubt wondering if they were the right jockey on the right horse, so to speak. But hey, they are all one up on me on this one, as I'm simply reporting and not bidding. The silver fox, Andrew Hayne, enters the arena and initially struggles a little with the wind but carries on regardless. Opening vendor bid $1,200,000. Bidder one in for $20,000. Bidder 2, 3, 4 and we are on the market when asked the question at $1,355,000. Bang! It's firing as expected. 5th bidder comes in at $1,411,000. A quip from Andrew "yeah I thought that was cheap" when an up-bid comes in at $1,427,0000 and the auctioneer's math is being tested at $1,434,500. That seemed to knock the stuffing out and a warning came quickly "I'm knocking it down and going, going and it's gone". Good solid sensible interest. Good to watch." (Mal James)
Biggest Sale: MALVERN, 54 Stanhope St
John Bongiorno (Marshall White); Under Hammer, $3,170,000 - 3 Bidders "Auctioneer John Bongiorno gathered the expectant crowd around the pool in this perfect family home in the heart of leafy Malvern. Two bidders soon got the price to $2,700,000 and the question was asked whether it was on the market. Reticent to agree, Mr Bongiorno urged the crowd along and a third bidder joined the race. The third bidder put up a bid of $2,900,000 on the proviso that the property was on the market. After a quick referral the property was declared for sale and a strong bid of $3,000,000 almost had the property bought. However, there was still heat in this competition and despite some strong bidding by a competitor, a final bid of $3,170,000 bought this house a new owner, after 28 years in the same family." (Debbie McTaggart)
Biggest Pass In: MALVERN EAST, 72 Kerferd St
John Bongiorno (Marshall White); Passed In: $2,800,000 - 0 Bidders "With 300 people having viewed this property and 100 or so crowded into the garden of this Gascoigne Estate home, auctioneer John Bongiorno was confident of a sale. But it was not to be with a vendor bid of $2,800,000 the only one of the day and the property passed in. However, with one interested party heading inside, it may not be long before this stunning property is sporting a 'sold' sign." (Debbie McTaggart)
$1M+ stonnington Featured Auctions
691
PASSED IN: $2,000,000
700
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BOUGHT: $1,434,500
703
BOUGHT: $3,170,000
721
PASSED IN: $1,975,000
797
PASSED IN: $2,800,000
710
PASSED IN: $2,450,000
684
PASSED IN: $2,010,000
684
BOUGHT: $1,055,000
stonnington Scheduled Auctions
| ADDRESS | RESULT | PRICE | IMPROVED $/SQM | BOUGHT |
|
| ARMADALE |
| 1/68 Rose Street | Bought | $995,000 | | 2011-04-09 |
| 906 Malvern Road | Bought | R: $2,114,595 - $2,326,275 | $3,810 - $4,191 | 2011-04-09 |
| 75 Barkly Avenue | Bought | Bought (2011-04-20) - R: $1,343,559 - $1,478,055 | $3,376 - $3,714 | 2011-04-20 |
| 53 Denbigh Road | Passed In | PI: $2,000,000 | $3,376 - $3,714 | 2011-04-20 |
|
| GLEN IRIS |
| 1761-63 Malvern Road | Bought | $1,295,000 | $1,776 | 2011-04-09 |
| 51 Aintree Road | Bought | $1,434,500 | $2,970 | 2011-04-09 |
| 61 Vincent Street | Bought | R: $2,493,400 - $2,743,000 | $3,958 - $4,354 | 2011-04-09 |
|
| MALVERN |
| 28 Wheatland Road | Bought | $1,490,000 | $2,475 | 2011-04-09 |
| 3 Fraser Street | Bought | Bought (2011-04-29) - R: $1,846,075 - $2,030,875 | $6,689 - $7,358 | 2011-04-29 |
| 225 Tooronga Road | Bought | Undisclosed | | 2011-04-09 |
| 54 Stanhope Street | Bought | $3,170,000 | $3,566 | 2011-04-09 |
| 81 Claremont Avenue | Bought | R: $2,301,600 - $2,532,000 | $3,855 - $4,241 | 2011-04-07 |
| 49 Jordan Street | Bought | R: $1,716,131 - $1,887,923 | $3,474 - $3,822 | 2011-04-09 |
| 1C Embling Road | Bought | Bought (2011-04-20) - R: $1,991,843 - $2,191,235 | $5,354 - $5,890 | 2011-04-20 |
|
| MALVERN EAST |
| 86 Manning Road | Bought | R: $1,850,870 - $2,036,150 | $2,115 - $2,327 | 2011-04-09 |
| 3 Central Park Road | Bought | R: $2,742,740 - $3,017,300 | $2,965 - $3,262 | 2011-04-09 |
| 11 Bent Street | Bought | Bought (2011-04-16) - $1,040,000 | $3,675 | 2011-04-16 |
| 20 Summerhill Avenue | Bought | $1,117,000 | $1,667 | 2011-04-09 |
| 50 Sycamore Street | Bought | Bought (2011-04-12) - Undisclosed | | 2011-04-12 |
| 72 Kerferd Street | Passed In | PI: $2,800,000 | | 2011-04-12 |
| 15 Epping Street | Passed In | PI: $1,975,000 | | 2011-04-12 |
| 13 Chanak Street | Bought | R: $1,975,540 - $2,173,300 | $2,533 - $2,786 | 2011-04-09 |
|
| PRAHRAN |
| 67 High Street | Bought | $1,307,000 | | 2011-04-09 |
|
| SOUTH YARRA |
| 3 Shipley Street | Passed In | PI: $2,450,000 | | 2011-04-09 |
| 16 Ralston Street | Bought | R: $1,143,128 - $1,257,560 | $5,292 - $5,822 | 2011-04-09 |
| 18B Mona Place | Bought | R: $1,189,160 - $1,308,200 | | 2011-03-25 |
|
| TOORAK |
| 3 Denham Place | Passed In | PI: $2,010,000 | | 2011-03-25 |
| 3 May Road | Bought | $1,055,000 | $3,482 | 2011-04-09 |
| 6 St Georges Court | Bought | R: $1,941,975 - $2,136,375 | $4,831 - $5,314 | 2011-04-09 |
| 23 Fairbairn Road | Bought | Bought (2011-04-11) - $1,250,500 | $4,531 | 2011-04-11 |
| 12 Stonnington Place | Bought | Bought (2012-06-04) - R: $2,493,400 - $2,743,000 | $7,084 - $7,793 | 2012-06-04 |
| 241 Kooyong Road | Bought | R: $2,737,945 - $3,012,025 | $4,167 - $4,585 | 2011-04-09 |
| 795 Malvern Road | Bought | Bought (2011-04-24) - R: $1,174,775 - $1,292,375 | $3,560 - $3,916 | 2011-04-24 |
| 10 Moonga Road | Bought | R: $2,085,825 - $2,294,625 | $2,534 - $2,788 | 2011-04-09 |
| 7E Woorigoleen Road | Bought | Bought (2011-06-17) - Undisclosed | | 2011-06-17 |
| 1a Nareeb Court | Bought | $2,940,000 | $3,978 | 2011-04-09 |
stonnington Private Sales
MALVERN, 54 Stanhope St | John Bongiorno (Marshall White)
Under Hammer: $3,170,000 - 3 Bidders (Photo: Debbie McTaggart)
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