Some Fight in the East
James Buy Sell Market News with Off Markets every Monday
Mal James
Buy Sell Agent
0408 107 988
mal@james.net.au
It doesn’t really show in the overall figures, but the market is feeling a tad warmer, with action picking up back in the east. Kew, Hawthorn, Camberwell, Canterbury, and Glen Iris—that is, Boroondara—have been heating up these past few weeks, and today it was back with a vengeance. The market was hot—not quite on fire, but drying out after a wet season, seemingly back in bloom and firing on almost all cylinders.
But, my friends, my dear in need of therapy readers of marketnews, let’s not declare the downturn over and the ascent begun just yet. Let’s say the stats and market sentiment in Melbourne’s past engine room were full steam ahead. Next week might be a full stop, but we can only report what we see, and today we saw firestarters everywhere: with four volcanoes, including a five bidder circling around $7M on Canterbury’s Golden Mile Fringe, featuring pretty boy Patterson again. Speaking of pretty boys, there’s one with a movie star appeal now gracing the Bayside auction scene – Joel Fredman – see below.
And before this starts sounding weird, back to the actual markets…..what happened in Bayside? Did we all forget to invite the bidders to the auctions? It was as dead as—well, a shocker. Back to the bad old days?
And what about the hoity-toity of Stonnington from Toorak to Malvern East? It went okay—not statistically shiny, but a decent bidder spread, and things seemed to be slipping away post-auction.
So, in the first week of our final for 2024, three-week, 100-auction test across Stonnington, Boroondara, and Bayside, Melbourne’s top end, market improvement was feelable, even if not yet statistically visible.
And that’s your lot until next week and the week after when we try to confirm whether Santa has come early or if it was just a fanciful rumour spread by our 2024 lonely Bidderman.
'Round the Auction Grounds
Biggest of the day: Volcano @ $7M+
A crowd reminiscent of the heady days of 2015 saw five bidders fight it out in front of a rowdy crowd and traffic jams
Melbourne's Top End Markets
Geographical
Stonnington – 8 auctions
Bidderman: 1.8
Clearance: 50%
SOUTH YARRA – Withdrawn/ Method change
SOUTH YARRA, 70 Motherwell Street
Agent: Richard Mackinnon – Marshall White
SOI: $2,500,000 – $2,750,000
Crowd: 55
Opening Bid: $2,400,000 VB
On the Market: $2,600,000
Under the Hammer: $3,260,000
Bidderman: 3
Mr Bongiorno was quick to kick off the bidding placing a vendor bid of $2,400,000. Two bidders quickly went head to head with the property being declared on the market at $2,600,000. A third bidder entered the race and purchased the property for $3,260,000.
MALVERN, 52 Horace Street
Agent: Andrew James – Belle
SOI: $2,450,000 – $2,650,000
Crowd: 50
Opening Bid: $2,500,000 VB
On the Market: $2,600,000
Under the Hammer: $2,730,000
Bidderman: 3
Since auctioneer Andrew James’ opening, this was a fast-paced auction with three parties duking it out for ownership of this property, the final sale price being $2,730,000.
MALVERN EAST, 26 The Avenue
Agent: Daniel Wheeler – Marshall White
SOI: $2,100,000 – $2,300,000
Crowd: 35
Opening Bid: $2,100,000 VB
On the Market: $2,330,000
Under the Hammer: $2,550,000
Bidderman: 2
Mr Wheeler opened the bidding placing a Vendor Bid of $2,100,000. After some encouragement from Mr Wheeler a bidding war ensued with two bidders placing bids between $5000 -$10,000 in quick succession. The property was declared on the market at $2,330,000. The first bidder purchased the property under the hammer for $2,550,000.
MALVERN, 15 Glenview Avenue
Agent: Carla Fetter – Jellis Craig
SOI: $3,500,000 – $3,850,000
Crowd: 30
Opening Bid: $3,700,000 VB
Passed in: $3,850,000
Sold After: $undisc
Bidderman: 2
Attracted two bidders and a few bids but never really got going on the street. Sold after.
PRAHRAN, 27 Irving Avenue
Agent: Jack Moss – Marshall White
SOI: $2,950,000 – $3,200,000
Crowd: 40
Opening Bid: $2,900,000 VB
Passed in: $3,125,000
Bidderman: 3
What almost looked like a passed in, became a 40 minute auction between 3 bidders. Still unable to reach reserve and it passed in to the original bidder.
MALVERN, 64 Elizabeth Street
Agent: Mark Wridgway – RT Edgar
SOI: $3,000,000 – $3,300,000
Crowd: 25
Opening Bid: $2,900,000
Passed in: $2,900,000
Bidderman: 1
The property passed into the lone bidder.
SOUTH YARRA, 39 Millswyn Street
Agent: Michael King – Abercromby’s
SOI: $3,500,000 – $3,850,000
Crowd: 10
Opening Bid: $3,400,000 VB
Passed in: $3,400,000 VB
Bidderman: 0
No bids and the property passed in.
Medical Rooms Day Surgery Richmond
1023 sqm: 4 permits: 17 carparks
Off Market Expressions of Interest Closing Tuesday November 26 @ 2.00pm (unless sold prior)
Jonathon McCormack 0418 835 885
Mal James 0408 107 988
Bayside/Port Phillip – 12 auctions
Bidderman: 0.8
Clearance: 42%
BRIGHTON EAST – Withdrawn/ Method change
SANDRINGHAM, 8b Rose Street
Agent: Robin Parker – Marshall White
SOI: $2,300,000 – $2,530,000
Before auction: $undisc
Bidderman: 1
HAMPTON, 40 Teddington Road
Agent: Jenny Dwyer – Belle
SOI: $2,100,000 – $2,300,000
Crowd: 40
Opening Bid: $2,100,000 VB
On the Market: $2,300,000 VB
Under the Hammer: $2,520,000
Bidderman: 3
Auctioneer Mr Tickell welcomed the crowd and encouraged opening bids, he shortly after placed a vendor bid of $2,100,000. 2 parties quickly entered the bidding with $10,000 – $50,000 increases. A 3rd bidder joined in with a $2,400,000 bid. After 2 more bids the property was sold under the hammer to the 3rd bidder for $2,520,000.
MIDDLE PARK, 46 Park Road
Agent: Oliver Bruce – Marshall White
SOI: $2,400,000 – $2,600,000
Crowd: 62
Opening Bid: $2,500,000 VB
Passed in: $2,750,000
Sold After: $undisc
Bidderman: 2
The cold weather didn’t deter a crowd of over 60 gathering for the auction of this 4 bedroom renovated Victorian. Despite 2 keen bidders the property was passed in at $2.75M
BEAUMARIS, 68 Haydens Road Beaumaris
Agent: Joe Doyle – Nick Johnstone Real Estate
SOI: $2,300,000 – $2,500,000
Crowd: 20
Opening Bid: $2,300,000
Passed in: $2,510,000
Sold After: $undisc
Bidderman: 1
An immediate opening bid from the crowd was followed up with a vendor bid. The initial bidder’s $10,000 raise was accepted, and the property was passed in.
MIDDLE PARK, 74 Park Road
Agent: Simon Carruthers – Cayzer
SOI: $2,500,000 – $2,750,000
Crowd: 30
Opening Bid: $2,500,000 VB
Passed in: $2,580,000
Sold After: $undisc
Bidderman: 2
A vendor bid of $2.5M opened proceedings before 2 interested parties placed bids. The property was passed in at $2.58M
HAMPTON, 58 Sargood Street
Agent: Richard Slade – Buxton
SOI: $2,100,000 – $2,200,000
Crowd: 25
Opening Bid: $2,100,000 VB
Passed in: $2,150,000 VB
Bidderman: 0
Indoor auction. Successive vendor bids drew no response from the crowd, and the property was passed in.
ALBERT PARK, 122 Page Street
Agent: Oliver Bruce – Marshall White
SOI: $2,600,000 – $2,800,000
Crowd: 52
Opening Bid: $2,700,000 VB
Passed in: $2,700,000 VB
Bidderman: 0
A crowd of over 50 onlookers gathered for the auction of this renovated home. No bidding saw the property was passed in on a vendor bid of $2,700,000.
BRIGHTON, 31 Campbell Street
Agent: Joel Fredman – Fredman
SOI: $4,900,000 – $5,300,000
Crowd: 20
Opening Bid: $4,500,000 VB
Passed in: $4,900,000 VB
Bidderman: 0
Auctioneer Joel Fredman called for a $4,500,000 opening bid before placing a vendor bid. After a vendor referral, a further $4,900,000 vendor bid was placed and the property was passed in.
HAMPTON, 32a Ivy Street
Agent: Stephen Wigley – Hodges
SOI: $2,000,000 – $2,150,000
Crowd: 11
Opening Bid: $2,000,000 VB
Passed in: $2,000,000 VB
Bidderman: 0
Mr Wigley encouraged bids with a vendor bid of $2,000,000 but with no further interest the property was quickly passed in.
SOUTH MELBOURNE, 117-119 Raglan Street
Agent: Mack Burgoine
SOI: $2,300,000 – $2,500,000
Crowd: 30
Opening Bid: $2,000,000 VB
Passed in: $2,000,000 VB
Bidderman: 0
A small crowd gathered for the auction but were not keen to put up their hands. An opening vendor bid of $2,000,000 was the only action to be seen.
HAMPTON, 13 The Avenue
Agent: Jenny Dwyer – Belle Property
SOI: $3,300,000 – $3,500,000
Crowd: 35
Opening Bid: $3,300,000 VB
Passed in: $3,300,000 VB
Bidderman: 0
With no bids from the crowd, Auctioneer Stephen Tickell opened and closed the auction on a $3,300,000 vendor bid.
Twilight Auction Wednesday 23rd @ 6.30pm
Mal James Auctioneer
Simone Clarke 0400 304 111
Mal James 0408 107 988
Boroondara – 13 auctions
Bidderman: 2.4
Clearance: 77%
DEEPDENE – Withdrawn/ Method change
KEW, 101 Argyle Road
Agent: Scarlett Hang – Marshall White
SOI: $2,400,000 – $2,600,000
Before auction: $undisc
Bidderman: 1
GLEN IRIS, 69 Ashburton Road
Agent: David Macmillan – Jellis Craig
SOI: $2,500,000 – $2,700,000
Crowd: 55
Opening Bid: $2,960,000
On the Market: $2,830,000
Under the Hammer: $2,960,000
Bidderman: 3
It must be racing season! This auction, with three bidders, was done and dusted within 10 minutes. Opening with a genuine bid at the bottom of the range, bids were then called with barely a breath between them. Sold to bidder one under the hammer.
HAWTHORN, 44 Urquhart Street
Agent: Stuart Evans – Marshall White
SOI: $3,200,000 – $3,500,000
Crowd: 50
Opening Bid: $3,200,000
On the Market: $3,575,000
Under the Hammer: $3,920,000
Bidderman: 4
The auction had a slow start, with an opening bid of $3,200,000, then the offerings of three more bidders took the sale price to $3,920,000 when the hammer fell.
SURREY HILLS, 96 Guildford Road
Agent: Campbell Ward – Jellis Craig
SOI: $3,700,000 – $4,000,000
Crowd: 70
Opening Bid: $3,700,000 VB
On the Market: $4,125,000
Under the Hammer: $4,165,000
Bidderman: 3
After auctioneer Campbell Ward opened with a vendor bid, two bidders sedately carried the price to the top of the range before half time was called. Upon his return a third bidder joined the fray, and the property was soon on the market. Following a quick flurry of bids, bidder 3 took the keys to a round of applause.
HAWTHORN EAST, 5 Mount Ida Avenue
Agent: Duane Wolowiec – Marshall White
SOI: $2,500,000 – $2,700,000
Crowd: 45
Opening Bid: $2,500,000 VB
On the Market: $2,850,000
Under the Hammer: $3,425,000
Bidderman: 4
4 bidders quickly joined the race, with bids flying everywhere. The property quickly reached the reserve with some large bids from bidder 2. The property eventually sold to bidder 3.
GLEN IRIS, 20 Parkin Street
Agent: Steve Burke – Belle
SOI: $2,200,000 – $2,400,000
Crowd: 65
Opening Bid: $2,200,000
On the Market: $2,450,000
Under the Hammer: $2,780,000
Bidderman: 5
Opening on a vendor bid, Auctioneer Steve Burke patiently directed the first three bidders they inched toward the reserve price. After a quick break and two more bids, the property was on the market at $2,450,000. Two more keen bidders joined the auction, raising their hands for the race to the end. Despite shaking their heads and bowing out , two bidders continued to re-enter bidding just before the hammer fell. A final bid from bidder 4 secured the keys to a round of applause.
CANTERBURY, 18 Alexandra Avenue
Agent: Sophie Su – Kay & Burton
SOI: $5,950,000 – $6,500,000
Crowd: 130
Opening Bid: $6,000,000
On the Market: $7,230,000
Under the Hammer:
Sold After: $7,350,000
Bidderman: 5
A crowd reminiscent of the heady days of 2015 saw five bidders fight it out in front of a rowdy crowd and traffic jams.
CAMBERWELL, 16 Rowell Avenue
Agent: Peter Vigano – Jellis Craig
SOI: $3,500,000 – $3,850,000
Crowd: 80
Opening Bid: $3,400,000
Passed in: $3,570,000
Sold After: $undisc
Bidderman: 2
An opening bid was placed at $3,400,000 and a bidding war ensued. Eventually the second bidder became frustrated, declared they were leaving, got in their car and drove away, much to the amusement of the crowd. The property was then passed in to the first bidder for $3,570,000. Sold after.
HAWTHORN EAST, 15 Miami Street
Agent: David Smith – Marshall White
SOI: $3,200,000 – $3,500,000
Crowd: 70
Opening Bid: $3,250,000 VB
Passed in: $3,520,000
Sold After: $undisc
Bidderman: 3
At this auction, three bidders were putting their hands up, however a halftime break was still necessary, after which, further bidding activity was not forthcoming, resulting in a pass-in. Sold after.
SURREY HILLS, 191 Union Road
Agent: Adele Mirabella – Jellis Craig
SOI: $3,500,000 – $3,850,000
Crowd: 40
Opening Bid: $3,400,000 VB
Passed in: $3,475,000
Sold After: $undisc
Bidderman: 1
A $3,400,000 opening vendor bid, then a second vendor bid failed to spark any bidding wars at this poolside auction, until after halftime, when bidder 1 spoke up. This turned out to be the only bid of $3,475,000, resulting in a pass-in. Sold after.
HAWTHORN, 16 Robinson Road
Agent: Walter Dodich – Kay & Burton
SOI: $2,200,000 – $2,420,000
Crowd: 23
Opening Bid: $2,300,000 VB
Passed in: $2,300,000 VB
Bidderman: 0
All quiet in Robinson Street today. With no bids from the small crowd, the property was passed in to a vendor bid.
CANTERBURY, 25 Chaucer Crescent
Agent: Mike Beardsley – Jellis Craig
SOI: $5,700,000 VB
Crowd: 20
Opening Bid: $5,700,000 VB
Passed in: $5,700,000 VB
Bidderman: 0
A quiet affair with one potential bidder the key focal point of agents. The property passed in after the bidder declined to offer.
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