BY GINA KANTZAS 25th August 2012
This week saw a mixed bag of results, with good activity seeming to happen during the week than at the Saturday auctions. I saw good crowds at opens on Saturday and stood with big crowds (of 120 people) at the two auctions I attended in Stonnington – Jordan St Malvern & Scott Grove Glen Iris. Both these auctions had 3 bidders, yet they passed in (see auction reports below)
Buyers are out looking. There are also many people looking in the early stages, and trying to gauge what’s happening in the market. If you are a family home buyer in Stonnington, you may feel positive right now, as they are apparently all priced in the mid-one millions …
Some sales of interest during the week;
- 3 Ashe Grove Toorak (1930s duplex) sold for a tick over $1m – Michael Armstrong (Kay & Burton)
- Apartment 1401 in the Lucient building (3 bed, 2 car, 233sqm internally) sold for $2.415m – Tom Staughton ( Kay & Burton)
- Apartment 3404 in The Royal Domain (240 sqm plus balconies) sold for $3.25m – Nicole Gleeson ( Kay & Burton)
Looking forward, there is a small but steady increase in numbers of auctions each week for the start of the Spring and until the Grand Final.
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GLEN IRIS (Stonnington), 19 Scott Gr | Andrew Hayne (Marshall White)
Passed In: Bought range: $3,644,200 - $4,009,000 - 3 Bidders (Photo: Gina Kantzas)
Bidderbuzz Auction
"I checked my iphone as I began to text "Just passed in..." and it was 12 pm! "Yes it did take as long as it felt" I thought to myself. This wasn't a comfortable spectacle as bidder 2 exhibited his impatience whilst bidders 1 and 3 remained quiet. Auctioneer Andrew Hayne did well to extract every last dollar during a long drawn out auction with most of the "negotiations " going on between himself and bidder 2. Andrew opened on a vendor bid of $3,400,000 and after some time, he heard a $50,000 bid from the front of this big crowd of 120 people. Half time came and went and just as he was about to pass it in, after the second count, bidder 2 offered $3,550,000. Andrew worked hard to entice bidder 1 to bid again but to no avail. Eventually bidder 3 entered at $3,600,000 and thus began a slow race to $3,700,000. After knocking back offers of $10k rises from bidder 2 all throughout the auction, Andrew finally accepted a $10,000 bid from bidder 2, as he suggested that " when bids get low, you know what's happening." Andrew advised the crowd that a $3,750,000 bid would be pertinent now but this was met with silence. He finally passed the property in to bidder 2 for $3,710,000.
" (Gina Kantzas)
Biggest Sale: MALVERN, 66 Stanhope St
Tim Derham (Abercromby's); After Auction, Bought range: $1,342,600 - $1,477,000 - 2 Bidders "The crowd gathered in the pretty front courtyard of this subdivided property as the winter sun took the chill off the air. Auctioneer Tim Derham got the auction underway by outlining the numerous delights near this Malvern home. Just before bidding got underway, a question was asked as to whether the sale included the rear property as well, to which the answer was obviously no! A bid of $1,000,000 was put forward but not accepted and a vendor bid of $1,300,000 was a better reflection of what the vendor was looking for. With bidders perhaps frightened off, the crowd were silent and after referring to the vendors, the property was once again offered at $1,300,000 and this was enough to get things moving, with a bid of $1,320,000 soon offered. A second bidder put forward a further $20,000 but the first bidder off the mark was keen and came back with $1,360,000. Further instructions were requested before the property was passed in. Bought after auction." (Debbie McTaggart)
Biggest Pass In: TOORAK, 10 Myoora Rd
Jeremy Fox (RT Edgar); Passed In: $4,300,000 - 0 Bidders "Wow, wow, wow - this home certainly had plenty of impact, and a good sized crowd gathered to enjoy a little piece of the 'celebrity' lifestyle. Auctioneer Jeremy Fox needed to say very little about this appealing, contemporary home which he said was becoming typical of the houses now being built in Toorak. He highlighted the easy access to nearby quaint shopping strips, revered private schools and cool cafes, and the comparable sales in the area. Quoting the mid $4m during the campaign, Jeremy Fox said this would be a good place to start the bidding, but no one seemed to agree. Vendor's instructions were sought and resulted in a vendor bid of $4,300,000. This was to be the only bid of the auction and the property was passed in.
" (Debbie McTaggart)
$1M+ stonnington Featured Auctions
797
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PASSED IN: $3,710,000
663
PASSED IN: $1,729,000
UNDISCLOSED
JAMES HOME RATINGS
BOUGHT RANGE*: $1,342,600 - $1,477,000
794
PASSED IN: $3,000,000
673
PASSED IN: $2,100,000
UNDISCLOSED
JAMES HOME RATINGS
PASSED IN: $2,000,000
648
BOUGHT*: Undisclosed
UNDISCLOSED
JAMES HOME RATINGS
BOUGHT RANGE*: $3,116,750 - $3,428,750
No report
UNDISCLOSED
JAMES HOME RATINGS
PASSED IN: $4,300,000
UNDISCLOSED
JAMES HOME RATINGS
BOUGHT RANGE*: $2,224,880 - $2,447,600
stonnington Scheduled Auctions
| ADDRESS | RESULT | PRICE | IMPROVED $/SQM | BOUGHT |
|
| ARMADALE |
| 5 Barkly Avenue | Bought | R: $1,150,800 - $1,266,000 | $2,877 - $3,165 | 2012-08-25 |
|
| GLEN IRIS |
| 19 Scott Grove | Passed In | PI: $3,710,000 | $2,877 - $3,165 | 2012-08-25 |
|
| MALVERN |
| 66 Stanhope Street | Bought | R: $1,342,600 - $1,477,000 | $3,960 - $4,357 | 2012-08-25 |
| 27 Cressy Street | Bought | R: $1,155,595 - $1,271,275 | $2,738 - $3,013 | 2012-08-25 |
| 41 Jordan Street | Bought | R: $1,660,029 - $1,826,205 | $3,007 - $3,308 | 2012-08-25 |
|
| MALVERN EAST |
| 66 Central Park Road | Passed In | PI: $3,000,000 | $3,007 - $3,308 | 2012-08-25 |
| 25 Coppin Street | Passed In | PI: $2,100,000 | | |
| 22 Turner Street | Passed In | PI: $2,000,000 | | |
|
| PRAHRAN |
| 5 Spring Street | Bought | $1,065,000 | $3,503 | 2012-08-25 |
| 69 Albert Street | Bought | $1,325,000 | | 2012-08-25 |
|
| SOUTH YARRA |
| 8 Davis Avenue | Bought | Undisclosed | | 2012-08-25 |
|
| TOORAK |
| 10 Myoora Road | Passed In | PI: $4,300,000 | | |
| 1/9 Flintoft Avenue | Bought | R: $3,116,750 - $3,428,750 | | 2012-08-25 |
| 35 Power Street | Bought | R: $2,224,880 - $2,447,600 | $2,943 - $3,238 | 2012-08-25 |
| 39 Evans Court | Passed In | PI: $1,225,000 | $2,943 - $3,238 | 2012-08-25 |
stonnington Private Sales
| ADDRESS | | BOUGHT PRICE | IMPROVED $/SQM |
| MALVERN | 29 Glendearg Grove | Range: $1,262,524 - $1,388,908 | $3,035 - $3,339 |
| MALVERN EAST | 54 Tennyson Street | $1,500,000 | $4,249 |
| 17 Warida Avenue | Range: $1,185,324 - $1,303,980 | $1,230 - $1,353 |
| SOUTH YARRA | 48 Tivoli Road | Undisclosed | |
| TOORAK | 1/103 Mathoura Road | Range: $2,733,150 - $3,006,750 | |
| 2/3 Chastleton Avenue | Range: $2,205,700 - $2,426,500 | |
MALVERN, 41 Jordan St | John Bongiorno (Marshall White)
Passed In: Bought range: $1,660,029 - $1,826,205 - 3 Bidders (Photo: Gina Kantzas)
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