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Is this the real Inner Melbourne market right now?

Is this the real Inner Melbourne market right now?
Below are three homes we visited for clients, but didn’t bid on. We chose them in advance to cover at auction this weekend, from about 50 we had rated. One in each area, one with each key agency, and all in the circa $3 million range. We thought it could be a little taster until next week’s continuing 100 Auction [...]
Big picture bleak, closer examination brighter!

Big picture bleak, closer examination brighter!

Its 6pm Saturday, week one of our fourth and final 2018, 3-week 100 Auction, Inner Melbourne Family Home, Market Temperature Test. Try saying that a few times! The results above and supporting data below are self-explanatory. Yes? No? Maybe? Have you been to an auction, EOI or off-market lately – is it a bit hit and miss? Not really. In fact, we [...]
Oversupply of unwanted and shortage of wanted

Oversupply of unwanted and shortage of wanted

We bid with another 7 bidders in a boardroom auction* last Thursday on the same day AMP predicted a 20% drop We bid with 8 other bidders in May at a public auction in the same week there was a 9% clearance rate in Kew 6 weeks ago we fought for a client $1.5 million above the quote in a fierce bidding [...]
Are You Awake To What Is Really Going On?

Are You Awake To What Is Really Going On?

This is the first of two articles about what is really happening in our markets. We live in exciting times in the business, in the emotion of and in the life of Melbourne Top End real estate. Is it a dawn or is it a midnight? Who knows but it is one of the more interesting times we have seen, [...]
It’s official, we have a new No. 1!

It’s official, we have a new No. 1!

At 6.00pm the James Spring 100 Auction Clearance Rate for $M+ Inner Melbourne family homes was 53% over the 3-week market test period (Aug 25, Sept 1 and 8). Last week our heading was Wipeout – it was a shocking day on the streets (31%) –  today (66%) the results are a bounce back to the previous week (61%) [...]
WipeOut

WipeOut

At 6.00pm the James Clearance rate for $M+ Inner Melbourne family homes was 31% on the 35 Auctions we covered today. This was the poorest recorded clearance rate on record (ever). James Bidderman that is, bidders per auction, was 0.7 – a very negative stat for the start of the Spring market. This was the equal poorest recorded Bidderman on record (ever). Last week we stated the market seemed a little [...]
When you’re warm you’re hot and when you’re cold you’re freezing

When you’re warm you’re hot and when you’re cold you’re freezing

Welcome to our $2m-plus auction Early Spring season opener And the first of three weekends of the James 3 Week 100 Auctions Early Spring Market Test, specifically designed to measure the true market temperature of higher end, Inner Melbourne Family Homes. This time last year, the opening Spring Day was a bit depressing and now it feels like we have just [...]
Price Uncertainty is the New Black

Price Uncertainty is the New Black

Price has become such an interesting concept in this market. There feels to be an overall lack of trust and comfort with regards to what price to pay – so whilst many things are different between the market of now (eg still some volcano auctions, 6 bidders sub $2m at 18 Barkly St, Brighton, Alex Schiavo)  [...]
First signs of life

First signs of life

  Today was the clearest spring buying and selling lessons any us, be we buyer or seller or both, will get before Christmas. With the auction machine still cranking up its engine, we covered a few spring early bird auctions today – eight Top End auctions in total – summary in the Volcanoes and Ducks graphic above – [...]
Yep, its a big drop – how to deal with it!

Yep, its a big drop – how to deal with it!

Welcome to the early beginnings of the Melbourne Spring buying and selling market. Auctions start in a few weeks time. This weekend’s James Market Insight, is the first in a series of three, about how you can best manage yourself in what’s to come. Why manage yourself? One: If you cannot manage yourself, then you dramatically increase your chances of [...]
State of the Spring Market

State of the Spring Market

  With the key property drivers of the 2000’s: Migration Chinese Students Easy Bank Money Negative Gearing (Interest only loans) Lack of Infrastructure being “attacked” politically from all angles (many would say this is a good thing for our young / community to at least pause and consider), the market is showing signs of and has the potential for major structural change. Forget [...]
We think price is down 10%

We think price is down 10%

After a few weeks of not much, we at James Buyer Advocates bought three homes this week. Overall how we bought them sums up how we are currently finding bidding in the June market; Lacklustre, little of it and light on. 98 Windsor Crescent Surrey Hills, Jeremy Desmier, 1 bidder – bought after, within quote range of [...]
The Market Roar – where and when

The Market Roar – where and when

At 6.00 pm on Saturday we found the market, as we have found it all year; B and C Graders down – A-Graders mixed. A-Grader, by our definition – right Position, right Property and right Price – good PPP‘s. Overall, the market as we go into winter is still declining in its mood, interspersed with some strong results: such [...]
So what’s the good news

So what’s the good news

Last week was very heavy in the market, next week is also big. So this week is a “Marketnews lite” with Gina, Mal, Sim and Randall, out and about assessing some homes and asking one question of the agents: So what’s the good news? Here are their answers. Simon Carruthers – Cayzers Middle Park, 80 Nimmo “People are still coming through opens [...]
Decimated Kew. Sellers spent $100k per bidder < 9% under hammer!

Decimated Kew. Sellers spent $100k per bidder < 9% under hammer!

At 6.00pm on Saturday, it’s official – we are continuing to fall – but those falls are becoming more widespread. In the final week of our three week May 100 Auction Test, we can now say that last week’s comments (of a flattening market) look “courageous” on today’s market evidence. The  Clearance Rate for $2m+ Inner Melbourne family homes [...]

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