BY ADAM WOLEDGE 12th May 2012
A solid day on the Boroondara auction streets today, with 4 sales over $4m under the hammer and an overall clearance rate of 64% for the Million Dollar plus market.
Of the eight auctions we featured, 7 sold.
Crowds were very good at most auctions at open for inspections – thankfully the rain stayed away but there was a chill in the air. If you rugged up and planned your coffee stops well, then all worked out quite well.
We are still getting though many off-market and quiet pre-market properties, and many are very good quality. Two of note that I saw this week were both pretty period homes, on good land size, ripe for some cosmetic upgrade work. One of these was with Scott Patterson (Kay & Burton) in Hawthorn East and another was with Brad Cooper (Fletchers) in Canterbury.
Similar numbers of properties up for auction next week yet the quality overall is not as good – it will be interesting to see how the “back-to-front” house goes at 61-63 Alfred Street Kew (Richard James, Jellis Craig) and also 35 Monomeath Avenue Canterbury (Doug McLauchlan, Marshall White) which has been on the market for some time– both properties in the $3m plus market.
Until next week…..
James Private Client Briefings
contain far greater and more client-specific detail than what you see below and are available for full service James Search and Negotiate
clients throughout Melbourne.Contact us:
For a private, confidential and no obligation discussion on what is really happening in your street, precinct and suburb from a buyer’s perspective, contact Architect Adam
on 0413 318 079 or Gina
on (+613) 9804 3133 or 0457 835 255 or Mal on 0408 107 988
from James Buyer Advocates.
Alternatively if you see us at an open for inspection or an auction please feel free to come over and say hello – perhaps we could send you a buyer rating, a result or simply open diaries and work out a time to sit down and talk about the market, values, negotiation, alternative homes or your needs from a buyer’s perspective.
For the record each of us is involved in 2 to 3 homes, around 20 inspections and attending/assisting/bidding on up to 4 auctions on a weekly basis – all in that specialist $M+ price range.
CAMBERWELL, 30 Moorhouse St | Hamish Tostevin (Marshall White)
After Auction: Bought range: $1,894,025 - $2,083,625 - 3 Bidders (Photo: Joshua Bong)
"Auctioneer Hamish Tostevin was looking very dapper today - crisp and sharp in his grey suit. Around 50 people turned up braving the chill and basking in the sunlight whilst Mr Tostevin delivered his preamble. Once that was done, a strong opening bid of $1,700,000 was offered and the auction got going. Although there were 3 bidders the price never reached the reserve that Mr Tostevin was looking for and the property was passed in at $1,920,000. Bought after for an undisclosed amount." (Joshua Bong)
Biggest Sale: CANTERBURY, 162 Mont Albert Rd
Scott Patterson (Kay & Burton); Under Hammer, $4,166,000 - 3 Bidders
"A medium size crowd gathered in the front garden of this home on the Golden Mile. Poised for a dogged battle, auctioneer Scott Patterson directed the bout of heavyweight bidding.
An opening bid of $3,100,00 was politely accepted, but deemed not even land value, so a vendor bid upped it to $3,200,000. When bidder 2 (flanked by an entourage of 12) joined in and added $50,000, the end of round one was signaled and a half time break called for. Bidder 3 had been urging for a rise of $10,000 to be accepted, and on return, it was, only to be retracted upon learning the home was not yet on the market at $3,225,000. The same reluctant bidder then unleashed a succession of $100,000 bids, these were jabbed straight back with $10,000 additions. A whopping $200,000 knock out bid was made, and at $4,000,000 things could have been stitched up, but a series of 30 rapid $1000 rises moved the price to $4,039,000. ‘Any more petrol in the tank sir?’, was the question, ‘I walked here’, was the answer. One more feisty round found bidder two winning the battle, bought under the hammer for $4,166,000.
" (Randall Smith)
Biggest Pass In: CANTERBURY, 36 Wattle Valley Rd
Richard James (Jellis Craig); Passed In: $1,625,000 - 0 Bidders
"Auctioneer Richard James spoke of three 'p’s' at this corner site location. Potential to improve. Pressure of interest rates (removed), and, of the Prominent street. However, met with a lot of arm folding from the introverted crowd a vendor bid of $1,600,000 was penciled in. A $1000 rise was cheekily offered, and cheekily declined, when Mr James suggested: 'You could spend $1000 in petrol driving about looking for the next place'. Another vendor bid of $25,000 was added for good measure, but nobody broke the ice, and a half time break was on. The home was re-offered, the crowd remained silent, and with a '1,2,3' the property is passed in." (Randall Smith)
$1M+ boroondara Featured Auctions
JAMES HOME RATINGS
BOUGHT RANGE*: $1,894,025 - $2,083,625
JAMES HOME RATINGS
BOUGHT RANGE*: $1,524,810 - $1,677,450
BOUGHT RANGE*: $1,659,070 - $1,825,150
JAMES HOME RATINGS
boroondara Scheduled Auctions
|6-8 Fitzgerald Street||Bought||$4,025,000||$2,254||2012-05-12|
|101 Panoramic Road||Bought||R: $1,639,890 - $1,804,050||$2,237 - $2,461||2012-05-12|
|1A Radnor Street||Bought||R: $1,510,425 - $1,661,625||$2,324 - $2,556||2012-05-12|
|13 Kasouka Road||Bought||$2,813,000||$3,189||2012-05-12|
|43 Christowel Street||Passed In||PI: $1,250,000||$3,189||2012-05-12|
|15 Granville Street||Bought||R: $1,040,515 - $1,144,675||$1,569 - $1,727||2012-05-12|
|30 Moorhouse Street||Bought||R: $1,894,025 - $2,083,625||$2,556 - $2,812||2012-05-12|
|1 Acacia Street||Passed In||PI: $1,375,000||$2,556 - $2,812||2012-05-12|
|36 Wattle Valley Road||Not Reported||PI: $1,625,000|
|162 Mont Albert Road||Bought||$4,166,000||$2,083||2012-05-12|
|34 Matlock Street||Bought||R: $1,217,930 - $1,339,850||$1,812 - $1,994||2012-05-12|
|19 View Street||Bought||R: $2,005,269 - $2,206,005||$2,410 - $2,651||2012-05-12|
|38 Beryl Street||Bought||$1,010,000||$1,403||2012-05-12|
|16 Henrietta Street||Bought||R: $1,524,810 - $1,677,450||$2,130 - $2,343||2012-05-12|
|4/2 Myrniong Grove||Passed In||PI: $1,100,000||$2,130 - $2,343||2012-05-12|
|153 Wellington Street||Bought||R: $1,074,080 - $1,181,600||$4,532 - $4,986||2012-05-12|
|2/38 Eglinton Street||Bought||R: $1,659,070 - $1,825,150||$3,119 - $3,431||2012-05-12|
|50 Fellows Street||Bought||Undisclosed||2012-05-12|
|54 Belford Road||Passed In||PI: $1,320,000||2012-05-12|
|12 Boisdale Street||Bought||$1,478,000||$1,845||2012-05-12|
|11 Sherwood Road||Passed In||PI: $1,260,000||$1,845||2012-05-12|
|24 Chestnut Street||Bought||Undisclosed||2012-05-12|
boroondara Private Sales
|ADDRESS||BOUGHT PRICE||IMPROVED $/SQM|
|BALWYN||18 Abercrombie Street||$1,070,000||$1,494|
|BALWYN NORTH||301 Belmore Road||Range: $1,198,750 - $1,318,750||$1,521 - $1,674|
|17 Bernard Street||$1,150,000||$1,823|
|CAMBERWELL||18 Stanhope Grove||$3,000,000||$1,875|
|155 Through Road||Range: $2,155,832 - $2,371,640||$2,829 - $3,112|
|3 Lodge Road||$955,000||$1,370|
|CANTERBURY||36 Wattle Valley Road||$1,370|
|HAWTHORN EAST||21 Lawson Street||$1,906,000||$2,242|
|3 Selwood Street||Range: $1,687,840 - $1,856,800||$2,102 - $2,312|
|MONT ALBERT||9 Proudfoot Street||Range: $1,217,930 - $1,339,850||$1,633 - $1,796|
|MONT ALBERT NORTH||17 Tyrrell Street||Undisclosed|
|SURREY HILLS||11 Wharton Street||Range: $1,448,090 - $1,593,050||$2,523 - $2,775|
CAMBERWELL, 13 Kasouka Rd | Alastair Craig (Jellis Craig)
Under Hammer: $2,813,000 - 3 Bidders (Photo: Joshua Bong)