Tuesday, May 22nd 2012
Port Phillip – Weekly | Archives
Quiet and not a lot of stock.
BY James Buyer Advocates 18th September 2010
Key Points:
Stock levels lower than last year.
A relatively quiet auction day in Port Phillip.
Ten homes were bought this week over a $million – with 3 in Port Melbourne, South Melbourne and Elwood
We covered three auctions, with only one selling under the hammer – 14 Ruskin St, Elwood (John Carter, Hocking Stuart), $1,200,000.
Crowds were down [...]
A little lift today – albeit on low turnover
BY Adam Woledge 11th September 2010
Key Points:
A quiet day in Port Phillip in terms of auction numbers, however a majority of the properties we attended sold, with only one of the auctions we covered passing in (301 Richardson St, Middle Park, Oliver Bruce, BenMac, $1,600,000).
Big crowds out in force – two auctions with 100 people and one with 80 – [...]
Port Phillip continues to start Spring like a tortoise.
BY Adam Woledge 4th September 2010
Key Points:
We focused on Albert Park today and there were reasonable bidder numbers across several auctions. However, Port Phillip has still started Spring very slowly.
Prices had been falling during Winter and the factors are there for that to continue; especially if any sort of Spring stock level surge is not met by a corresponding increase in bidder numbers – our [...]
No exaggeration to say it was an auction train wreck today. The saving grace was low stock quality.
BY Mal James 28th August 2010
Key Points:
None of the auctions we covered in Port Phillip were bought under the hammer this weekend.
As of 7pm, only one had been bought post auction.
Across five auctions, there were only two bidders in total.
On a positive note, 3 out of 3 townhouses/apartments sold at auction around a $million
Analysis: This was Spring’s first test [...]
Ticking along and in better shape than lower Bayside for market fundamentals.
BY Mal James 14th August 2010
Key Points
Albert Park and surrounds still in hibernation with minimal activity – however 5 out of 7 auctions sold.
Not as much new stock coming on as in other areas. See graph below
BidderBuzz Auction: Oliver Bruce aka “Ollie” – 7 Nimmo St Albert Park. 3 bidders
James Auction Report: Auctioneer Oliver Bruce opened on a vendor [...]
Being an Auctioneer in Albert Park is a casual job. Sell houses in Summer and Hot Pies in Winter.
BY Mal James 7th August 2010
Key Points
41 sales for the month of July – only one over $3m.
Albert and Middle Park combined reported only six $M+ sales in July
Two BidderBuzz Auctions – both with four bidders and both bought under the hammer in the $1.4 millions. 367 Dorcas St with Gerald Betts and 6 Tribe St with Geoff Cayzer.
Agent Comments re [...]
Port Phillip – The home of the single fronted and Greg Hocking, who is back playing with a different team.
BY James Buyer Advocates 31st July 2010
Key Points
Market continues to be very quiet on low stock turnover but this as expected this time of the year in Port Phillip.
Biggest sale was in Elwood – 4 Pozieres Avenue - Leonard Persichetti - TBM – $2,345,000 – 3 bidders
Five single fronted period homes went to the market today. They sold between mid $900,000′s and mid $1,200,000′s
Albert Park [...]
10 sales over $1 million this week – it’s a lot less than May, but still some action
BY Mal James 24th July 2010
From Port Melbourne to St Kilda things are very much normal for this time of the year. Something – but not much - is happening. These are Bayside suburbs and sales here are very seasonally orientated.
Of the five auctions we covered this week, three passed in, one sold under the hammer and one after auction. Bidderman [...]
C’mon let’s get on with it – there are homes to buy!
BY Mal James 17th July 2010
This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year.
Hopefully, this will help you as [...]
Somebody gave Port Phillip an Auction Pep Pill and we think we know why!
BY James Home Ratings 19th June 2010
Of the 10 auctions we attended, three were bought before auction, three were bought under the hammer and four were passed in (with one bought after). Our demand indicator Bidderman was at 1.5 bidders per auction. So out of 10, seven were bought. That seems a big improvement on the last few weeks. We have [...]
Overhang is the issue, but new stock numbers are dwindling so a rebalance is possible.
BY Mal James 5th June 2010
SUPPLY OVERHANG BUILDS
First some stats. Last Saturday’s (May 29) Auction results showed strong evidence of “auction overhang” in Port Phillip where the clearance rate was 32% clearance rate on the 22 auctions we monitored.
Seven days later the reported clearance rate had lifted from 32% to 45%, with only three of the pass-ins and unreporteds reported as having [...]
The Auction Method is under real pressure. Vendors will be asking for new ideas soon as another week of low clearances hits Port Phillip
BY Mal James 29th May 2010
With Bidderman less than 1 – meaning more auctions than bidders – it may be time for a change of scenery for Port Phillip auctioneers unless things turn very quickly or they can come up with some new ideas. And the post auction sales are not happening either according to reported REIV results, so a [...]
Ladies and Gentlemen. Roll Up, Roll Up. Welcome to the new Port Phillip one man shows. Turn Up – Speech – Vendor Bid – Exit
BY Mal James 22nd May 2010
Not a lot on offer today and despite our headline a few were put away albeit on lower interest levels than last month. Of the reported sales we saw 7 from 13 go under the hammer or sell soon after for a 54% clearance rate. The standout auction was 65 Beacon Vista Port Melbourne with [...]
Port Phillip truly is 50/50 and good news for Consumer Affairs – no need to come here the Agents are Quoting brilliantly.
BY Mal James 15th May 2010
So how is Port Phillip (Port Melbourne to Elwood) travelling in this changing market.
Lets look at some stats on the auction we had scheduled to visit, bid on or review below.
Of the 16 auctions all bar one reported their results so the clearance rates are accurate.
The clearance rate was 50%. That is for every auctioned [...]
Ssshhh not a churchmouse was stirring
BY Mal James 24th April 2010
Very little happening in Port Phillip today. See results below. We were aware of 6 quality M+ auctions and nothing startling happened. Next week the 1st of May we are looking at 21 auctions. The following week 23 and 16 auctions on the 15th of May. The last two weeks in May are looking strong as [...]
By the Way, Buy the Bay – Before somebody else does!
BY Mal James 17th April 2010
Port Phillip seems to be firing along on all cylinders with 16 properties sold over a million since our last report just before Easter. You know how we said land in the good parts of Elwood was around $3000 per sq metre before Easter. Well that was before Easter now it’s after Easter and land [...]
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Although I think we remained in denial for a lot of the pre-bid phase it can only be said that your advice on the ultimate selling price was always accurate. We thank you for your considered and accurate advice, from the very beginning you gave us an accurate range of the likely selling price, for the extensive research you provided in assessing the property and indeed the assistance and the process you e...
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EARLY WINTER DEMANDS A CHANGE OF TACK...
BY Mal James
With Easter 2012 over, many of you will be suffering withdrawals not just from chocolate but also from information about the property market – a...
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