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Port Phillip Weekly

Port Phillip Weekly
Winter is here and the property market goes into hibernation for the next six weeks, with most of the key agents leaving the country in search of warmer pastures. Some agents leave in June and others in July, so there is no real pattern to it. Either way they believe there are less deals to [...]
Port Phillip Weekly

Port Phillip Weekly

For the last month I have been like a young boy waiting for Christmas – except it wasn’t Christmas presents I was waiting for, but the sale of 113 Erskine Street, Middle Park. What made this sale so exciting was that it represented a very rare land sale, as the existing dwelling will probably be demolished [...]
Port Phillip Weekly

Port Phillip Weekly

The big story of this weekend is not a whizzbang auction or a stunning unrenovated Victorian mansion shooting the lights out. It is rather about sales before auction. Of the 38 $1 million dollar plus auctions we covered this weekend, six properties (or 15.7%) were bought before auction. In Port Phillip there were 17 [...]
Port Phillip Weekly

Port Phillip Weekly

PORT PHILLIP With the buzz surrounding the sale of 93 Richardson Street two weeks ago, now being replaced with the question of how long Mark Neeld will remain as coach of Melbourne, there was only a small flicker of interest in this weekend’s auction of 115 Richardson Street,  Albert Park (Geoff Cayzer, Geoff [...]
Port Phillip Weekly

Port Phillip Weekly

The biggest sale in Port Phillip this weekend was the auction of 49 York Street St Kilda West ( Michael Paproth, Marshall White Real Estate). Michael opened with a vendor bid of $2.8m – a fair enough start given the quote was $2.9m plus, declared the property on the market at $3.41m and sold it [...]
Port Phillip Weekly

Port Phillip Weekly

After all the excitement surrounding the sales in St Vincent Place over the last three weekends, I didn’t expect my heart rate to go into the red zone this weekend. Well it did, with the sale of 93 Richardson Street Albert (Greg Hocking, Greg Hocking Holdsworth). This was a really pretty [...]
Port Phillip Weekly

Port Phillip Weekly

PORT PHILLIP With over 600 people attending the auctions of 73 and 75 St Vincent Place Albert Park last weekend and the weekend before, it was no surprise to see another large crowd of over 250 attending this weekend’s auction of 77 St Vincent Place (Michael Szulc and Geoff Cayzer of Cayzer Real Estate). Considered the [...]
Port Phillip Weekly

Port Phillip Weekly

With the Grand Prix, Easter and the school holidays over, it seems some normality is finally starting to return to the Port Phillip property scene. The warmth in the market we have been speaking about since the end of last year is showing signs of gaining further momentum. This weekend we saw an 86% clearance rates across [...]
Port Phillip Weekly

Port Phillip Weekly

Clearance rates dropped to 54% on 17 auctions in Port Phillip this weekend, after several weeks of solid results in this area. The biggest sale was for 397 Howe Parade in Port Melbourne, which sold under the hammer for $1,541,000 under two bidders. But another in Port Melbourne, at 26 Beach St, had no [...]
Port Phillip Weekly

Port Phillip Weekly

Gridlock With the Grand Prix on this weekend, normally sleepy Port Phillip is currently clogged up with bollards and crowd controllers directing traffic. Key agents Michael Coen (Hocking Stuart) and Kaine Lanyon (Marshall White) agree that this means there will be little, or no real auction action over the next two weekends with only five auctions [...]
Port Phillip Weekly

Port Phillip Weekly

The Clearance Rate for Port Phillip this weekend was 65% on 27 auctions, a solid result. Auction of the weekend was at 78 Ruskin Street, Elwood, with Kaine Lanyon of Marshall White. This was a ripper of a small period home with nothing to spend that rated well at 719. The big upside [...]
Port Phillip Weekly

Port Phillip Weekly

Off-markets out of hibernation With 64 Armstrong Street Middle Park selling for over $4 million at auction last year, (Michael Szulc of Geoff Cayzer), and an off-market with Michael Coen (Hocking Stuart Albert Park) going for over $6 million, some bigger properties that have been in hibernation for the last two years are finally starting to [...]
Port Phillip Weekly

Port Phillip Weekly

It’s the calm before the storm in Port Phillip, with only four auctions this weekend: two in Port Melbourne, one in Albert Park and one in South Melbourne. Next weekend (Saturday 23, February) will be a Super Saturday, with a large number of auctions across Melbourne and 18 auctions above $1m in Port Phillip in [...]
Port Phillip Weekly

Port Phillip Weekly

In Port Phillip, the start of 2012 mirrored most of 2011, with stock-shortage being the buzz word amongst agents and buyers. As the year progressed, we saw vendors adjust their expectations as agents finally realised they had to work harder to make vendors understand that the value of their property may have fallen. The interest [...]
Port Phillip Weekly

Port Phillip Weekly

The sale of 29 Albert Street Port Melbourne by Frank Callaghan of Frank Gordon Real Estate this weekend was an indication that there is warmth in the market at around $1 million – particularly when the fundamentals are right with a property, as they were with Albert Street. It is a period home, has good [...]
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