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October Top End Market

St Kilda West: 35 Mary Street (John Bongiorno, ), after auction, undisclosed above $4m

Week Ending Saturday, October 25

James Buyer Advocates are busy:

  • Number of auction homes involved in buying this week was well into double figures.
  • Our mid week activity securing homes BEFORE AUCTION for clients was intense. At the time of writing we had bought before in (Michael Armstrong), Mont Albert North (Mark Read) and Glen Iris (Paul Williamson) and they were bunfights.
  • On the ground today we lost more than we won. First time in over two years. Buyers who are going after very good properties you need to be innovative in your strategies wherever you can, however even some of our innovative strategies got trashed by the sheer weight of buyer strength today.
  • Our eight person COUNCIL, which meets Tuesdays and Fridays to analyse, pick apart and suggest strategies going forward, was working overtime this week with two group sessions totaling six hours and numerous additional impromptu ones as you recalibrate your position at various times in the heat of battle.
  • Large numbers of PUBLICLY ADVERTISED stock for November coming onto the market needed to be assessed and extra staff were called in to help with admin.
  • OFF MARKET ACTIVITY is now leading into its Prime Time. If you have good agent relationships and work hard, you will get access to larger numbers of Off Markets between now and Christmas as buyers become sellers. These “two-homed” people will ponder the of quietly selling before Christmas or waiting till the New Year to try their luck with a full public campaign. If you can secure an “A-grader” now, then consider it if the price is right – there is still no signs of a market change yet (talk of change, yes – but evidence, no). A word of caution on Off Markets – remember the James Duck Test. The last thing you as a buyer want to do now is get distracted in this prime buying time on an Off Market home that really isn’t for sale (even if the agent says it is). Read our Masterclass article on The Off Market Duck Test by clicking here.  http://marketnews.com.au/2014/08/off-markets-and-the-duck-test/

James Market News this week is result, after result, after result and then you determine what we think everybody already knows, even if the mainstream commentators are examining their entrails again and implying something different.

Blogs and Articles are back two weeks after the Cup. Until then, good punting on the horses, not the homes.

: 22 Victoria Road (Steven Abbott, Jellis Craig), under hammer, $4,450,000, 3 bidders

‘Round the Grounds

Boroondara:

  • Glen Iris, 49 Martin Road (Damien Davis, Jellis Craig), under hammer, $2,640,000, 3 bidders
    It’s a little quiet at this auction, the crowd is pensive. Only about 50 in attendance…(See More in Auction Reports)
  • Camberwell, 11 Bringa Avenue (Daniel Wheeler, Marshall White), under hammer, $2,560,000, 4 bidders
    There was a serious buzz and fair enough too – it was a good …(See More in Auction Reports)

Bayside/Port Phillip:

  • Elwood, 6A Joyce Street (Torsten Kasper, Chisholm & Gamon), under hammer, $2,625,000, 3 bidders
    This was one of the early auctions in this Super Saturday, however it still attracted a crowd…(See More in Auction Reports)
  • Black Rock, 26 Love Street (Mark Earle, Buxton), under hammer, $3,100,000 4 bidders
    Auctioneer Mark Earle, despite the fact that he calls a good auction, didn’t have to work too hard today…(See More in Auction Reports)

Stonnington:

  • Toorak, 23 Gordon Street (Andrew Macmillan, Jellis Craig), under hammer, $2,360,000, 3 bidders
    Auctioneer Andrew Macmillan was in good form here today. He talked up the local butcher…(See More in Auction Reports)
  • Malvern, 11 Irving Street (John Bongiorno, Marshall White), under hammer, $2,510,000, 4 bidders
    Dogs, sunshine and an idyllic backdrop provide the setting for this auction…(See More in Auction Reports

Biggest Auctions:

  • Camberwell, 22 Victoria Road (Steven Abbott, Jellis Craig), under hammer, $4,450,000, 3 bidders
    If you had to pick a place to be on this super Saturday then this would have been the place as there were…(See More in Auction Reports)
  • Malvern, 26 Park Street (Mark Wridgway, ), after auction, undisclosed above $3,800,000, 1 bidder
    Making the most of idyllic weather, auctioneer Mark Wridgway decided to hold the auction for 26 Park Street…(See More in Auction Reports)
  • Kew, 11 Malin Street (Richard Earle, Jellis Craig), under hammer, $3,610,000, 5 bidders
    Forget the Cox Plate, the real race was happening on Malin St this afternoon, with auctioneer Richard Earle fittingly in charge…(See More in Auction Reports)

Biggest Pass Ins:

  • Kew, 22 Walmer Street, passed in, $5,400,000, no bidders
    All the parts seemed in place for a memorable auction. Around 120 had gathered onto the front lawn…(See More in Auction Reports)
  • Armadale, 3 Myamyn Street, passed in, $4,300,000, no bidders
    An auction attendee likened the throng to a ‘Block-style’ crowd. It was certainly a big one for Armadale at over 150 at last count…(See More in Auction Reports)
  • , 38 Chrystobel Crescent, passed in, $4,100,000, no bidders
    Super Saturday kicked off with a huge crowd of 120 at pretty little Crystobel Crescent…(See More in Auction Reports)

Hawthorn East: 52 Anderson Road (Richard Earle, Jellis Craig), under hammer $3,320,000, 3 bidders

Week Ending Saturday, October 18

Market Summary

1) Endless mainstream media talk about the market possibly faltering, but there is NO evidence of the Inner Melbourne housing market faltering.

2) There is talk of price leveling, but there is evidence to the contrary of price increases happening on popular market segment homes.

27 Huntingtower Road, Armadale is an example of what we are talking about in the market right now. Single-level, well-located downsizers home

  • Auction 2009: $2,500,000
  • Auction 2014: $3,150,000

Auction Report: “Auctioneer Kevin O’Brien and Dawn Meyer knew they had a good one here: A-grade locale, quality build, the ‘perfect downsizer’ abode. The preamble came easy and so did an opening bid when ‘$2.3’ was called clearly and firmly. Competition soon emerged, and though this was to be a two-horse race from beginning to end, both battled strongly. At $2,550,000, rises of $25,000 were still requested. ‘I’ll give you ‘10′,  stated Bidder 1, ‘No, 25′ … ‘I’ll give you 10′  … ‘No, 25′ – auctioneer and bidder both stubborn in their resolve. How about a vendor referral? Good idea. But nope, it’s still not on the market. Click here for full auction report. For the James Home Rating on 27 Huntingtower Road, Armadale (James Home Rating 732/1000) CLICK HERE

3) Next week’s SUPER, SUPER Saturday (double a normal Super Saturday and quadruple a normal auction weekend) will tell us if there is any easing in the two-year Bull Run market.

Biggest Auctions:

  • Elwood, 51-55 Goldsmith Street (Adam Guest, Wilson), under hammer, $5,450,000, 2 bidders
    There are not many development blocks in Elwood, and furthermore there are not many with  permits…(See More in Auction Reports)
  • Hawthorn East, 52 Anderson Road (Richard Earle, Jellis Craig), under hammer, $3,320,000, 3 bidders
    A good auction this one, and the vendor should be really happy with the outcome…(See More in Auction Reports)
  • Middle Park, 61 Armstrong Street (Oliver Bruce, Marshall White), under hammer, $3,300,000, 4 bidders
    Spring is fickle, turning a bright sunny morning into an overcast afternoon, but it fails to deter a crowd of 70 from turning up…(See More in Auction Reports)

Biggest Pass Ins:

  • Toorak, 14 Glen Road, passed in, $3,200,000, 1 bidder
    This single-level home, according to auctioneer Jeremy Fox, would suit…(See More in Auction Reports)
  • Glen Iris, 14 Gardiner Parade, passed in, $2,200,000, 3 bidders
    Only a small crowd at one of the first auctions today, but no shortage of bidders….(See More in Auction Reports)

Albert Park: 382 Montague Street (Kaine Lanyon, Marshall White), under hammer, $2,750,000, 3 bidders

Week Ending Saturday, October 11

Post Grand Final Market Summary Trifecta

1. : It feels like there should be strong interest pre Melbourne Cup for good homes. We have a number of auctions we are bidding on in the next fortnight. Open for Inspections for good homes have been crowded and prior to the Grand Final, Bidderman was consistently over 2.2 bidders per auction.

2. PRICE: Many agents on the selling side are bemoaning some vendors opinions on price. We have no issue with that – it’s their home – it’s a free country – but they are not selling.

While we have bought 4 in the last week.

  • Toorak Off Market Apartment ()
  • Malvern East Off Market Home (John Morrisby)
  • Auction Family Home (Regina Schmidt)
  • South Melbourne Auction Apartment (Gary Omrod)

Vendor Pricing: We have walked away from several negotiations where we have offered good money and got a reply we couldn’t go near in the last fortnight. I have also been through two today and walked straight out when told the price. I admire courage but a few sellers right now are into “hero” territory on asking price.

Next Week is a Super Saturday and the week after, October 25th is always expected to be a big, but is now actually a huge one – as my feeble graph above attempts to show.

3. SUPPLY: Let’s be happy as we are at the highest levels of good quality stock across all price levels, in almost all market segments since May 2010. If you can’t find something to tickle your fancy now then you may have to revisit your fancy or your tickle – there is a lot of good for sale right now.

Biggest Auctions:

  • Camberwell, 73 Bowen Street (Paul Richards, Bekdon Richards), under hammer, $3,600,000, 6 bidders
    There was always going to a big buzz at this auction. The owner had picked his mark well and the build was very good quality…(See More in Auction Reports)
  • , 74 Robinson Road (, Kay & Burton), under hammer, $2,820,000, 4 bidders
    A solid crowd of 100 gather in the tranquil front garden and spill out onto the road for this auction…(See More in Auction Reports)
  • , 382 Montague Street (Kaine Lanyon, ), under hammer, $2,750,000, 3 bidders
    I don’t think this single fronted Victorian had ever had so many people through its front door in its long history…(See More in Auction Reports)

Biggest Pass Ins:

  • , 81 Wellington Parade, passed in, $4,000,000, no bidders
    A single strong bid was the order of the day after auctioneer…(See More in Auction Reports)
  • Balwyn North, 48 Tuxen Street, passed in, $3,750,000, no bidders
    ‘Quality’ was the word of the day as Jeremy Desmier was in charge of selling this brand new home…(See More in Auction Reports)
  • Balwyn, 1 Monash Avenue, passed in, $2,775,000, 2 bidders
    “Interest rates are low and confidence is high” – Auctioneer Toby Parker, who was in charge of selling 1 Monash Avenue on another glorious day…(See More in Auction Reports)

$3-Million-Plus October Results

732
/1000
JAMES HOME RATINGS
2
2
2
418sqm
Agent: Kevin O'Brien, Jellis Craig
Bought: $3,150,000
/1000
JAMES HOME RATINGS
5
4
4
505sqm
Agent: Stuart Robinson, Jellis Craig
Bought: $2,360,000
761
/1000
JAMES HOME RATINGS
4
0
2
855sqm
Agent: Simone Cumberlidge, Buxton
Bought: $3,100,000
/1000
JAMES HOME RATINGS
6
5
4
857sqm
Agent: Barb Gregory, Marshall White
Bought range: $4,315,500 - $4,747,500
737
/1000
JAMES HOME RATINGS
5
4
2
806sqm
Agent: Chris Carrington, Nick Johnstone Real Estate
Bought range: $3,183,880 - $3,502,600
/1000
JAMES HOME RATINGS
5
3
6
1128sqm
Agent: Alex Schiavo, Kay & Burton
Bought range: $4,660,740 - $5,127,300
/1000
JAMES HOME RATINGS
4
4
1
1049sqm
Agent: Julian Augustini, Hodges
Bought: $4,350,000
720
/1000
JAMES HOME RATINGS
5
4
2
740sqm
Agent: Evan Lykourinos, Bekdon Richards Estate Agents
Bought: $3,600,000
763
/1000
JAMES HOME RATINGS
4
3
2
1234sqm
Agent: Tom Ryan, Jellis Craig
Bought: $4,450,000
/1000
JAMES HOME RATINGS
2
2
1
237sqm
Agent: Paul Caine, Caine Real Estate Pty Ltd
Bought range: $3,548,300 - $3,903,500
/1000
JAMES HOME RATINGS
0
0
0
1466sqm
Agent: Graeme Wilson, Wilson
Bought: $5,450,000
669
/1000
JAMES HOME RATINGS
5
3
2
1184sqm
Agent: Rae Tomlinson, Marshall White
Bought: $3,075,000
659
/1000
JAMES HOME RATINGS
4
2
2
818sqm
Agent: Tom Ryan, Jellis Craig
Bought range: $2,924,950 - $3,217,750
/1000
JAMES HOME RATINGS
4
2
4
1107sqm
Agent: Peter Vigano, Jellis Craig
Bought: $3,220,000
/1000
JAMES HOME RATINGS
4
3
3
1076sqm
Agent: James Tostevin, Marshall White
Bought range: $4,171,650 - $4,589,250
/1000
JAMES HOME RATINGS
4
3
2
929sqm
Agent: Dale Edgcumbe, RT Edgar
Bought: $3,400,000
/1000
JAMES HOME RATINGS
5
2
3
830sqm
Agent: Stephen Gough, Marshall White
Bought range: $2,493,400 - $2,743,000
783
/1000
JAMES HOME RATINGS
4
3
2
626sqm
Agent: Greg Toogood, Jellis Craig
Bought: $3,610,000
/1000
JAMES HOME RATINGS
3
2
2
1243sqm
Agent: Greg Bowring, Jellis Craig
Bought: $3,100,000
/1000
JAMES HOME RATINGS
6
4
0
5068sqm
Agent: Gayle Blackwood, Morrison Kleeman
Bought range: $3,068,800 - $3,376,000
/1000
JAMES HOME RATINGS
3
3
4
354sqm
Agent: Marcus Chiminello, Marshall White
Bought: $3,025,000
681
/1000
JAMES HOME RATINGS
4
5
2
962sqm
Agent: Joanna Nairn, Marshall White
Bought range: $3,912,720 - $4,304,400
793
/1000
JAMES HOME RATINGS
3
2
6
594sqm
Agent: Mark Wridgway, RT Edgar
Bought range: $4,123,700 - $4,536,500
/1000
JAMES HOME RATINGS
5
4
4
735sqm
Agent: John Chartres, Thomson
Bought range: $3,243,338 - $3,568,010
/1000
JAMES HOME RATINGS
5
2
1
963sqm
Agent: Heather Elder, Marshall White
Bought range: $3,164,700 - $3,481,500
/1000
JAMES HOME RATINGS
4
4
8
610sqm
Agent: Nicholas Goold, Hocking Stuart
Bought range: $3,164,700 - $3,481,500
673
/1000
JAMES HOME RATINGS
4
2
1
372sqm
Agent: Michael Paproth, Marshall White
Bought: $3,300,000
/1000
JAMES HOME RATINGS
5
2
4
664sqm
Agent: John Holdsworth, Hocking Stuart
Bought: $5,750,000
625
/1000
JAMES HOME RATINGS
4
2
3
760sqm
Agent: Dean Gilbert, Marshall White
Bought: $3,100,000
/1000
JAMES HOME RATINGS
4
2
2
1653sqm
Agent: Robin Parker, Marshall White
Bought range: $2,991,121 - $3,290,545
/1000
JAMES HOME RATINGS
2
2
2
300sqm
Agent: Geoff Cayzer, Cayzer
Bought: $3,200,000
613
/1000
JAMES HOME RATINGS
3
2
1
157sqm
Agent: Karl Gillon, Buxton
Bought: Undisclosed
/1000
JAMES HOME RATINGS
4
3
4
589sqm
Agent: Oliver Bruce, Marshall White
Bought range: $3,859,975 - $4,246,375
/1000
JAMES HOME RATINGS
0
0
0
660sqm
Agent: Warwick Anderson, RT Edgar
Bought: $2,770,000
/1000
JAMES HOME RATINGS
3
2
2
791sqm
Agent: Michael Ebeling, RT Edgar
Bought: $3,170,000
/1000
JAMES HOME RATINGS
3
3
3
1143sqm
Agent: Marcus Chiminello, Marshall White
Bought range: $4,323,172 - $4,755,940
738
/1000
JAMES HOME RATINGS
5
3
5
2006sqm
Agent: Jeremy Fox, RT Edgar
Bought range: $11,508,000 - $12,660,000
/1000
JAMES HOME RATINGS
4
0
0
1106sqm
Agent: , Kay & Burton
Bought range: $5,322,450 - $5,855,250

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