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 [...]

At 6.00 pm the James Clearance Rate for Melbournes $M+ was 65% and The Weekly Review Bidderman, our bidders per auction measurement, was a solid 2.2. Last weekend we reported a strong start for our first Super Saturday, with Bidderman a very healthy 2.2 bidders per auction on big numbers of stock on offer with almost everywhere [...]

East Melbourne, 120 Powlett, Arch Staver, Under the Hammer, $5,155,000 – 4 bidders There was a festive air along Powlett Street this morning as real estate punters strolled in and out of historic homes open for inspection in this proud and peaceful pocket of Melbourne. With a crowd of 150 gathering under magnificent trees on the [...]

This year seems to have started where it left off – with a sense of buyers wanting to transact. Stonnington Snapshot Last year we did almost a third of our business for the year in the last 6 weeks of the year. In fact, we worked on deals till Christmas. Of particular interest were a [...]

Well, it’s great to be back! It’s great to be looking at properties again and great to be enjoying good Melbourne coffee! I went to most of my favourite haunts in the past fortnight, including Liar Liar, Porgies + Mr. Jones, Ora, and Axil, and all are still on the mark and producing excellent coffee. Last [...]

As this is the final Marketnews for 2012, some highlights below Most memorable Auction; 43 Seacombe Grove Brighton (Barb Gregory) on 26th May 2012 Three bidders fought it out for absolute Brighton waterfront at this auction beginning with rapid fire $100,000 bids  – Auctioneer Jack Bongiorno kept the pace until it was bought under the hammer for $7,770,000. [...]

A bit of a dip today in the Boroondara property market today: of the 11 auctions we attended 7 sold and the clearance overall was 68%. There were however some standout results and these were: 28 Chrystobel Crescent, Hawthorn (Scott Patterson, Kay and Burton) 3 Martin Road, Glen Iris (Lachie Fraser-Smith, Bennison Mackinnon) 5 Urquhart Street, Hawthorn (Antony [...]

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 [...]

Here are our awards for 2012. Our criteria is that we must have dealt with the agent several times in 2012 and that we look at things from a buyer’s perspective – which we as buyers think is 50% of the game. Our Best Four Auctioneers We run into a lot of good auctioneers each weekend. In [...]

At 6pm on Saturday, the James Clearance Rate for $M+ was 75% on the 28 auctions we attended. The Weekly Review Bidderman, our demand indicator, was 2 bidders per auction. Both those stats indicate that the bounce was back in the market this week, after last week’s more subdued market. $M+ Clearance Rates: Boroondara – 88% on [...]

It was a reasonable day on the Boroondara auction streets on Saturday, although it was still a little subdued compared to Super Saturday a few weeks ago. Of the 12 auctions we attended, 9 sold and 3 passed in (75%), which aligns closely with the overall $1m+ market in Boroondara (72%). Some observations: The hammer rate, where [...]

This week in Stonnington was a little slower paced than the past few weeks but the energy was not subdued. The clearance rate was 46% and Bidderman was 1.3. Interestingly, of the 8 auctions we covered today, only one was bought under the hammer: 18 Central Park Rd Malvern East with Rae Tomlinson of Marshall [...]

At 6pm on Saturday, the James Clearance Rate for $M+ was 61% on the 31 auctions we attended. The Weekly Review Bidderman, our demand indicator, was 1.3 bidders per auction. That low Bidderman rate reflects how the market felt this weekend – quiet. This lack of activity is hardly unexpected given that the Melbourne market is [...]

A busy day (that started off with a near perfect ¾ latte at Porgie and Mr. Jones at 8.30am). At all six auctions I attended, there were good numbers of people (averaging 100), and across the 14 auctions attended by our advocates in Port Phillip, only three were passed in. A great result for the owners [...]

At 6pm on Saturday, the James Clearance Rate for $M+ was 71% on the 42 auctions we attended. The Weekly Review Bidderman, our demand indicator, was 1.8 bidders per auction. Volcanoes – Of the 42 auctions we covered, there were seven auctions with 4+ bidders. That’s not bad! Ducks (no bidders):14%    Lone Rangers (1 bidder):27%  Norms (2 [...]

It was a busy day around the Boroondara auction traps this weekend. Of the 12 auctions we monitored, 9 sold, representing a fairly healthy 75% clearance rate. While the Melbourne-wide Bidderman sat at 1.5, Boroondara Bidderman was slightly higher, at 1.7. We certainly feel the market has lifted; numbers at properties are up, sentiment is [...]

As we go into our Footy Induced/ School Holiday Auction Activity Hibernation we thought we would look at the key issues facing buyers’ right now in the Spring Marketplace. Here is our Top 5. 1. Underquoting Is back with a vengeance. It is a real stain on our profession. Like dummy bidding it causes great angst [...]

At 6pm on Saturday, the James $M+ Clearance Rate was 44% across the 25 auctions we attended. The Weekly Review Bidderman was 1.4 bidders per auction. Market Summary The market continues to be unexciting in terms of stock levels. There were only 40 or so $M+ auctions this weekend in Inner East and Bayside, when 70 is a [...]

As we come to the end of February most of the work we are involved in at this price level is off market or pre market – meaning not advertised or not yet advertised (and may not be). However two really good properties, currently beginning public selling campaigns (we have been through and rated), should [...]