BY ADAM WOLEDGE 23rd June 2012
Saturday was a reasonable auction day in Boroondara, with the million-dollar-plus market bouncing back with a clearance rate overall of 71% and Bidderman at 1.5 - compared to last week at 45% and 1.4 respectively.
I couldn’t say however that there were any runaway prices here. The result was mainly due to vendor adjustment to the market, and diligent agent work.
At 6pm Saturday, of the 10 auctions we reviewed, six sold and four passed in.
Of those four that passed in, three had bidders, so we expect these will have sold soon or at least be ‘mopped-up’ before the pre-spring surge (circa late July).
Interestingly, Balwyn performed very well today, with seven out of eight selling. A ‘fringe’ part of Boroondara performing well – that speaks volumes.
Boy, it was cold out there though! I must say my mid-morning coffee went down an absolute treat.
Speaking of coffee, the good people at Porgies + Mr Jones, Snow Pony and Friends of Mine are opening another café soon in Bridge Road with an Italian theme and it sounds great! This will be launched in mid-July – and since I am taking some time off to travel to Italy with the family and will return around then, it will be an interesting place to check out.
With little property currently on the market, the school holidays coming up and some great sporting events taking place (mostly in Europe), it certainly is a good time to take a breather.
GLEN IRIS, 9 Malvern Av | Bryan Cain (J A Cain First National)
Under Hammer: $1,520,000 - 3 Bidders (Photo: Adam Woledge)
"Around 80 people braved the frosty weather conditions for this auction, of which the property was last sold by the auctioneer Bryan Cain 12-and-a-half years ago. Once it was apparent that there was no-one from the crowd willing to start the auction, a vendor bid of $1,420,000 was announced and the auction didn't take too long to get going. There were three bidders when bidding stopped at $1,520,000, and the half-time break was taken. Upon his return Bryan announced the property on the market and maybe expected this to ignite some further interest (which I must say I thought it would) but alas it didn't and the property was sold under the hammer to the original bidder. Well done to the purchaser here - they have bought a good home at a good price." (Adam Woledge)
Biggest Sale: KEW, 405 Barkers Rd
Alastair Craig (Jellis Craig); Under Hammer, $2,600,000 - 2 Bidders
"One of the quickest auctions of the day. In front of around 50 people in the tranquil backyard, auctioneer Alastair Craig started proceedings right on 2pm. A crowd bidder started swiftly at $2,000,000 but was countered by a vendor bid of $2,050,000. Two bidders were in the game here and with the property on the market at around the $2,400,000 mark, Bidder 1 ended up buying at $2,600,000 with bidder 2 the under bidder at $2,525,000. I look at my watch and it says 2.09pm - WOW! that was quick! " (Adam Woledge)
Biggest Pass In: CANTERBURY, 34 Maling Rd
Steven Abbott (Jellis Craig); Passed In: $3,950,000 - 0 Bidders
"One of the last auctions of the day and there was a good crowd here for auctioneer Steve Abbott and campaign agents Tom Ryan and Geordie Dixon.
Under a cloudy sky, proceedings were conducted in the front yard with the lovely Edwardian facade as a backdrop; perhaps the property' best asset (land size aside). There was no crowd bidding activity - only a series of vendor bids at $3,800,000, $3,900,000 and $3,950,000 - a figure that the property passed in at. " (Adam Woledge)
$1M+ boroondara Featured Auctions
PASSED IN: $1,950,000
PASSED IN: $3,950,000
JAMES HOME RATINGS
PASSED IN: $1,510,000
BOUGHT RANGE*: $2,186,520 - $2,405,400
JAMES HOME RATINGS
BOUGHT RANGE*: $1,603,448 - $1,763,960
boroondara Scheduled Auctions
|90 Nicholas Street||Bought||R: $1,496,040 - $1,645,800||$2,146 - $2,361||2012-06-23|
|2 Northcote Avenue||Bought||$2,050,000||$3,372||2012-06-23|
|34 Norbert Street||Bought||$1,935,000||$2,615||2012-06-23|
|131 Winmalee Road||Bought||R: $2,023,490 - $2,226,050||$2,216 - $2,438||2012-06-23|
|32 Beckett Street||Bought||R: $1,730,995 - $1,904,275||$2,520 - $2,772||2012-06-23|
|13 Burroughs Road||Bought||$1,025,000||$1,546||2012-06-23|
|40 Jurang Street||Bought||$1,370,000||$5,638||2012-06-23|
|13 Palmer Avenue||Passed In||PI: $1,950,000||$5,638||2012-06-23|
|41 Avenue Road||Bought||R: $1,011,745 - $1,113,025||$3,113 - $3,425||2012-06-23|
|50 Bowen Street||Passed In||PI: $1,575,000||$3,113 - $3,425||2012-06-23|
|3 Kingsley Street||Bought||$1,100,000||$1,741||2012-06-23|
|33 Golding Street||Bought||Undisclosed||2012-06-23|
|34 Maling Road||Passed In||PI: $3,950,000||2012-06-23|
|4 Cloverdale Road||Passed In||PI: $1,510,000||2012-06-23|
|9 Malvern Avenue||Bought||$1,520,000||$1,838||2012-06-23|
|36 Urquhart Street||Bought||$1,800,000||$2,239||2012-06-23|
|2/4 Shakespeare Grove||Bought||R: $1,615,915 - $1,777,675||2012-06-23|
|11 Widford Street||Bought||R: $2,186,520 - $2,405,400||$3,427 - $3,770||2012-06-23|
|8 View Point ||Bought||Bought (2012-06-25) - R: $815,150 - $896,750||$1,272 - $1,399||2012-06-25|
|75 Earl Street||Bought||$1,115,000||$1,045||2012-06-23|
|405 Barkers Road||Bought||$2,600,000||$1,739||2012-06-23|
|3 Wharton Street||Bought||R: $1,603,448 - $1,763,960||$2,341 - $2,575||2012-06-23|
|38A Essex Road||Passed In||PI: $1,500,000||$2,341 - $2,575||2012-06-23|
boroondara Private Sales
|ADDRESS||BOUGHT PRICE||IMPROVED $/SQM|
|BALWYN||15 Fitzgerald Street||$1,175,000||$1,337|
|BALWYN NORTH||27 Duggan Street||Range: $2,996,875 - $3,296,875||$3,709 - $4,080|
|CAMBERWELL||178 Wattle Valley Road||Range: $1,385,755 - $1,524,475||$1,638 - $1,802|
|1 Moorhouse Street||Undisclosed|
|HAWTHORN||29 Kooyongkoot Road||Range: $5,178,600 - $5,697,000||$4,143 - $4,558|
|HAWTHORN EAST||3 Victoria Road||Undisclosed|
|3 Tiro Court||$2,600,000||$4,626|
|4/2 Myrniong Grove||Range: $982,975 - $1,081,375||$6,342 - $6,977|
|KEW||40 Foley Street||Range: $1,323,420 - $1,455,900||$3,236 - $3,560|
|11-13 Peel Street||$2,000,000||$2,509|
|SURREY HILLS||9 Newton Street||Range: $997,360 - $1,097,200||$1,454 - $1,599|
HAWTHORN EAST, 11 Widford St | James Tostevin (Marshall White)
After Auction: Bought range: $2,186,520 - $2,405,400 - 3 Bidders (Photo: Joshua Bong)