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Market News » price increases


We’re out of the blocks with 87% clearance rate and Bidderman at 3. Early days but WOW!

We’re out of the blocks with 87% clearance rate and Bidderman at 3. Early days but WOW!
(Above and below) 160 people witnessed this architectural masterpiece (working from a low base to a state of brilliance – Steve Domoney Architecture) sell under the hammer for $4,160,000. James Tostevin and 3 bidders. Google our James Home Rating – 2a Harcourt Street, Hawthorn East to read our detailed thoughts. Excuse me what did I read above, James Bidderman 3, James [...]
2014 is going out with a bang!

2014 is going out with a bang!

At 6.00 pm on Saturday, on a day where there were around 150 $1m+ scheduled auctions across Inner East and Bayside, the James Clearance Rate was 71% on the 38 auctions we covered. The Weekly Review Bidderman, our bidders per auction measurement was at 2.2.  After a slight breather last week, it looks like the year [...]
Second Super Saturday in seven days and the upper auction market burps

Second Super Saturday in seven days and the upper auction market burps

At 6.00 pm Saturday the James Clearance Rate for Melbourne’s $M+ property was 56% on the 45  auctions we covered. The Weekly Review Bidderman, our bidders per auction measurement, was at 1.7. Market Summary On the face of it that was a big drop from last weekend’s “red zone” numbers. We agree – but it should be noted that our [...]
2014 First Super Saturday – The Early Birds are out in force!

2014 First Super Saturday – The Early Birds are out in force!

At 6.00 pm Saturday and the James Clearance Rate for Melbourne’s $M+ property was 71% on the 42 auctions we covered. The Weekly Review Bidderman, our bidders per auction measurement, was at 2.6. All three of those numbers are exceptionally strong – there is no other way to read them! This weekend was the first big [...]
An up and down end to 2013

An up and down end to 2013

At 6.00pm on Super Saturday the James Clearance Rate for Melbourne’s $M+ property was 62% on the 43 auctions we covered. The Weekly Review Bidderman, our bidders per auction measurement, was at 1.8 – down on last week. Ducks (no bidder auctions) – 24% Lone Rangers (1 bidder auctions) – 18% Norms (2-3 bidder auctions) – 45% Volcanoes (4+ [...]
Properties Struggling to Move after Passing In

Properties Struggling to Move after Passing In

At 6pm on Saturday, the James Clearance Rate on the 31 auctions we covered was 58%. Bidderman, our demand indicator of average bidders per auction, had a small rise to 1.6 bidders per auction, in part due to four volcanoes (strong auctions) including one 7 bidder auction in 28 Barrington St Kew. These figures indicate that the [...]
Hottest market is for the $1.2 to $1.6 million double-fronted timber home in need of some work – with a market price tag on it.

Hottest market is for the $1.2 to $1.6 million double-fronted timber home in need of some work – with a market price tag on it.

Key Points: Crowds smaller and less bidders with a clearance rate at 62% – lowish for Boroondara, however there were around 50 auctions over $1 million. Hottest market is for the $1,200,000 to $1,600,000 double fronted timber home in need of some work with a market price tag on it. Scott Patterson MD of Jellis Craig: Clearance Rate [...]
This is a Market Performing Differently at Different Price Points

This is a Market Performing Differently at Different Price Points

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 59% for the 31 auctions we attended. Bidderman was at 1.5 – a more representative number than last week’s 2.2 we think.  Main Points: A significant, but largely expected, drop in activity and dollar value 3 Longstaff Kew East – sold by Glen Coutinho of Hocking Stuart, had a [...]
The numbers show things are happening and something may be coming; but that something may be nothing more than a breather. Buying Opportunities in the $2m to $4m range.

The numbers show things are happening and something may be coming; but that something may be nothing more than a breather. Buying Opportunities in the $2m to $4m range.

It’s 6pm Saturday and the James million-dollar-plus Clearance Rate on the 41 auctions we attended today was 61%. Bidderman is 1.7 and it seems to have found a momentary level of some strength on large numbers of auctions. We monitored 174 $million sales across 56 Melbourne suburbs. Overall Clearance rate is 60% for those 174 auctions and in [...]
By the Way, Buy the Bay – Before somebody else does!

By the Way, Buy the Bay – Before somebody else does!

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 [...]
Is Help On the Way? We hope so, but don’t think it’s coming in a hurry!

Is Help On the Way? We hope so, but don’t think it’s coming in a hurry!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 38 Auctions we attended today was 74%; basically no change on the 77% ( pre Easter Super Saturday -March 27). Bidderman was down from to 3 to 2.3 bidders per auction but that is still very strong all things considered (stock quality and Easter holidays). Market Mood Today was [...]
In the words of Oscar Wilde any talk of the market’s death was greatly exaggerated. Wow what an incredibly powerful market day for $million+ homes and this was local not overseas buying strength.

In the words of Oscar Wilde any talk of the market’s death was greatly exaggerated. Wow what an incredibly powerful market day for $million+ homes and this was local not overseas buying strength.

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 39 Auctions we attended today was 77 per cent and we have no late REIV results so could be higher. Bidderman was well up at 3 bidders per auction and any talk from us of the last two weeks looking a bit soft has been well and [...]
Bidderdepth… A recap on Year To Date in the North.

Bidderdepth… A recap on Year To Date in the North.

Since the start of 2010 we have seen buyers itching to get into the market… the amount of bidders in the North has increased as the weeks have progressed. Where is everyone coming from…? Well it appears a combination of people who missed out in 2009, investors returning to the market and obviously a new bread of buyers that [...]
Q&A with Bennison Mackinnon’s Director Iain Carmichael

Q&A with Bennison Mackinnon’s Director Iain Carmichael

Iain Carmichael is a tough cookie and one of the best, if not the best, auctioneer in Melbourne. We exchange thoughts often and I find that enjoyable. The discussions are always quick, robust and, occasionally, I need a disprin afterwards. But I would never say that Iain gives you anything other [...]
It is time to hit the Button?

It is time to hit the Button?

It’s 6pm Saturday and the James Clearance Rate for million-dollar-plus auctions is 68 per cent on the 19 auctions we attended today. In this week’s Market Wraps, we are most appreciative of the time and effort Scott Patterson of Jellis Craig (Boroondara), Iain Carmichael of Bennison Mackinnon (Stonnington) and David Hart of Buxton (Bayside) put [...]

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