oc | Thursday 23rd January

Bayside/Port Phillip, Port Phillip



Very solid with 13 from 17 being bought today or 76% Clearance

54 York Street, ST KILDA WEST

, 54 York St: Jeff Cayzer (Cayzer) looks for bids but has no luck. Passed in $1,775,000.

Key Points:

  • Port Phillip the star performer today and especially solid in that early one million bracket
  • Bidder depth would be best described as shallow except for the Volcano (4+ bidder auction) at 76 Blessington St with Greg Hocking – see report below

Agent Q & A:“What is your take on the Economist’s article that Australian house prices are overvalued by 56%?”
Matthew Young, Buxton, St Kilda
:”The question that needs to be asked when reading this article is, are you a pessimist or an optimist? – as your attitude on life and or strategies will directly reflect your opinion and outlook. Isn’t there an age old adage “ prices double on average every 7 to 10 years”? This saying has been around well before the late 1990’s when it was suggested by Mr Minack that the bubble had started to inflate. We all know and accept that the market provides no guarantees with financial returns but we are still willing to .  Why is that?   Facts don’t lie, some things just don’t need to be overanalysed and simply accepted for what they are.  For as long as I know or care to remember, regardless of any peaks or troughs that the market may provide that it rebounds in time.  Always seek out professional when looking to , do so wisely and understand that there are always risks involved. If you read this article with a pessimists approach the only place you would your money would be under your pillow……”
Karl Gillon, Buxton, :”I recently heard Michael Blyth (Chief Economist for CommBank) speak at a conference where he indicated that some could analyse the data that way. However, debt ratios are higher than in previous years and that’s not concerning as more people are used to living with bigger debts nowadays. I think the way we live now is much different to how they lived in previous generations. Look I think if we’ve weathered the storm of the GFC, all the economic fundamentals are in place and for property in Australia is strong so I think we’re in a good position.”
Torsten Kasper, Chisholm & Gamon, Elwood, Black Rock & :“It is our opinion that the recent statement, that property prices are 56% over priced, appears not to take into account that the growth that the Melbourne market  has had in recent years has been consistent with long term trends. The last five years have shown that growth in the apartment and housing sector has sat between 50-61% respectively since 2006. On an annualised base, this growth is reflective of far longer property trends and simply represents a growth rate of between 10-12.2%. In this time, there have been quarterly adjustments of spikes and declines reflecting appropriate responses to the confidence of the market at any given point in time as a result of  and economic forecasts. Given that Melbourne is experiencing a housing approvals , it would not be surprising to see some mild softening in some sectors and in the short term. Our belief is that the market has become more predictable in most segments and those properties priced correctly are still generating competition. The old adage is even more relevant – it is wise to buy and sell in the same market. From the longer term prospective, despite migration numbers slowing ,the figures are still historically high. The demand  based on the  new arrivals and localised demand for inner suburban property gives us confidence that the outlook  for Bayside property should remain positive in the medium to long term.”

BRIGHTON, 23 Campbell St
BRIGHTON, 23 Campbell St | Jason Gill (Hodges)
Under Hammer: Bought range: $1,118,194 - $1,230,130 - 4 Bidders (Photo: Kristen Hatt)
Bidderbuzz Auction
"This was a to-the-point, concise auction - exactly what we like to see, and what the buyers like too. Jason Gill took the helm and accepted an opening bid of $1,000,000 to kick things off. Soon there were four bidders in the mix with three of those still bidding after the price hit $1,150,000. On the market at $1,100,000 and selling under the hammer shortly after for an undisclosed amount. A great auction." (Kristen Hatt)

 

Biggest Sale: ST KILDA, 76 Blessington St
Greg Hocking (Greg Hocking); Under Hammer, $2,015,000 - 5 Bidders

"Overlooking the serenity of the St Kilda Botanical Gardens and bathed in beautiful sunlight, ordinarily you could forgive the 60+ gathered at the Blessington Street auction for being somewhat distracted from proceedings, but that certainly wasn't the case! Entertaining from the outset, auctioneer Greg Hocking was at his expressive best as he proficiently conducted proceedings. Mr Hocking didn't have to wait long for things to kick off, with a convincing offer of $1,600,000 from the opening bidder. Fierce bidding from 5 parties followed till the $2,000,000 mark was reached, eliciting good-natured cheering from passers by! The action and antics continued until the eventual fall of the hammer at $2,015,000. " (Nikki Hills)

 

Biggest Pass In: BRIGHTON, 29 St Ninians Rd
Jonathan Dixon (J P Dixon); Passed In: $7,300,000 - 0 Bidders

"As always, auctioneer Jonathan Dixon opened proceedings right on time and the preliminaries were soon completed. This property has a supreme and uninterrupted view of the Bay from the City to Royal Brighton Yacht Club and the potential for future development was clearly explained by Mr Dixon. Nevertheless, no bids were forthcoming and the property was passed in on a vendor bid of $7,300,000. " (David James)
$1M+ bayside/port phillip Featured Auctions
762
/1000
JAMES HOME RATINGS
ALBERT PARK: 68 Victoria Av
68 Victoria Avenue
BOUGHT RANGE*: $1,745,380 - $1,920,100
No report
651
/1000
JAMES HOME RATINGS
BRIGHTON: 23 Campbell St
23 Campbell Street
BOUGHT RANGE*: $1,118,194 - $1,230,130
705
/1000
JAMES HOME RATINGS
BRIGHTON: 20 Kinane St
20 Kinane Street
PASSED IN: $2,000,000
524
/1000
JAMES HOME RATINGS
BRIGHTON: 18A Martin St
18A Martin Street
PASSED IN: $3,300,000
648
/1000
JAMES HOME RATINGS
BRIGHTON: 16 Munro St
16 Munro Street
PASSED IN: $1,650,000
UNDISCLOSED
JAMES HOME RATINGS
BRIGHTON: 29 St Ninians Rd
29 St Ninians Road
PASSED IN: $7,300,000
586
/1000
JAMES HOME RATINGS
BRIGHTON: 2 Yuille St
2 Yuille Street
BOUGHT: $1,400,000
724
/1000
JAMES HOME RATINGS
BRIGHTON EAST: 77 Comer St
77 Comer Street
PASSED IN: $2,200,000
UNDISCLOSED
JAMES HOME RATINGS
MIDDLE PARK: 336 Danks St
336 Danks Street
PASSED IN: $1,400,000
UNDISCLOSED
JAMES HOME RATINGS
PORT MELBOURNE: 285 Esplanade East
285 Esplanade East
BOUGHT: $1,010,000
UNDISCLOSED
JAMES HOME RATINGS
ST KILDA: 76 Blessington St
76 Blessington Street
BOUGHT: $2,015,000
UNDISCLOSED
JAMES HOME RATINGS
ST KILDA WEST: 19 Longmore St
19 Longmore Street
BOUGHT: $1,050,000
520
/1000
JAMES HOME RATINGS
ST KILDA WEST: 12 Mary St
12 Mary Street
BOUGHT: $1,610,000
UNDISCLOSED
JAMES HOME RATINGS
ST KILDA WEST: 54 York St
54 York Street
BOUGHT RANGE*: $1,726,200 - $1,899,000
Stonnington Weekly
port phillip Scheduled Auctions
ST KILDA WEST
37 Longmore Street, ST KILDA WEST
Bought undisclosed
37 LONGMORE STREET
PORT MELBOURNE
604/216 Rouse Street, PORT MELBOURNE
Bought $1,225,000
604/216 ROUSE STREET
PORT MELBOURNE
161 Evans Street, PORT MELBOURNE
Bought undisclosed
161 EVANS STREET
SOUTH MELBOURNE
60 Church Street, SOUTH MELBOURNE
Bought $1,200,000
60 CHURCH STREET
bayside Scheduled Auctions
HAMPTON
47 Service Street, HAMPTON
Passed In $1,500,000
47 SERVICE STREET
BRIGHTON
29 St Ninians Road, BRIGHTON
Bought undisclosed
29 ST NINIANS ROAD
HAMPTON
85a Highett Road, HAMPTON
Bought undisclosed
85A HIGHETT ROAD
BRIGHTON
18A Martin Street, BRIGHTON
Passed In $3,300,000
18A MARTIN STREET
ADDRESSRESULTPRICEIMPROVED $/SQMBOUGHT
BEAUMARIS
475 Beach RoadBoughtR: $1,759,765 - $1,935,925$8,380 - $9,2192011-03-19
15 Clonmore StreetBoughtR: $959,000 - $1,055,000$1,364 - $1,5012011-03-19
475 Beach RoadBoughtR: $1,759,765 - $1,935,925$6,047 - $6,6532011-03-19
BLACK ROCK
49 Ardoyne StreetPassed InPI: $1,800,000$6,047 - $6,6532011-03-19
5 St Andrews CourtBought$1,100,000$1,6792011-03-15
BRIGHTON
16 Munro StreetPassed InPI: $1,650,000$1,6792011-03-15
18A Martin StreetPassed InPI: $3,300,000
29 St Ninians RoadPassed InPI: $7,300,000
2 Yuille StreetBought$1,400,000$2,6972011-03-19
26A Burrows StreetBoughtUndisclosed2011-03-19
23 Campbell StreetBoughtR: $1,118,194 - $1,230,130$2,662 - $2,9292011-03-19
167 Were StreetBought$1,427,500$2,2662011-03-19
20 Kinane StreetPassed InPI: $2,000,000
BRIGHTON EAST
77 Comer StreetPassed InPI: $2,200,000
18 Ferguson StreetBoughtUndisclosed2011-03-04
HAMPTON
6 Coombe AvenueBoughtR: $1,414,525 - $1,556,125$2,369 - $2,6072011-03-19
20 Bayside CrescentBoughtUndisclosed2011-03-18
85a Highett RoadPassed InPI: $1,000,0002011-03-18
14 Barnett StreetBought$985,000$1,2582011-03-19
47 Service StreetPassed InPI: $1,500,000
SANDRINGHAM
7 Waverly StreetPassed InPI: $1,500,000
ALBERT PARK
68 Victoria AvenueBoughtR: $1,745,380 - $1,920,100$7,827 - $8,6102011-03-10
71 Moubray StreetBought$1,430,000$8,9382011-03-19
MIDDLE PARK
336 Danks StreetPassed InPI: $1,400,000$8,9382011-03-19
PORT MELBOURNE
41 Beacon VistaBought$1,360,000$6,7332011-03-19
161 Evans StreetBoughtR: $1,160,390 - $1,276,550$7,033 - $7,7372011-03-19
604/216 Rouse StreetBought$1,225,000$8322011-03-17
285 Esplanade East Bought$1,010,000$8,2792011-03-19
SOUTH MELBOURNE
60 Church StreetPassed InPI: $1,200,000$8,2792011-03-19
359 Coventry StreetBoughtBought (2011-04-04) - Undisclosed2011-04-04
52 Eastern RoadBought$1,755,000$7,5002011-03-19
ST KILDA
55 Carlisle StreetBought$1,295,000$2,9232011-03-19
76 Blessington StreetBought$2,015,000$6,1432011-03-19
ST KILDA WEST
54 York StreetBoughtR: $1,726,200 - $1,899,000$5,480 - $6,0292011-03-19
37 Longmore StreetBoughtR: $1,726,200 - $1,899,000$5,394 - $5,9342011-03-19
12 Mary StreetBought$1,610,000$8,5642011-03-19
19 Longmore StreetBought$1,050,000$5,0722011-03-19
port phillip Private Sales
PORT MELBOURNE
13 Evans Street, PORT MELBOURNE
Bought: undisclosed
13 EVANS STREET
bayside Private Sales
SANDRINGHAM
6 Reno Road, SANDRINGHAM
Bought: undisclosed
6 RENO ROAD
port phillip Private Sales
ST KILDA
10 Robe Street, ST KILDA
Bought: $2,500,000
10 ROBE STREET
ST KILDA EAST
132 Hotham Street, ST KILDA EAST
Bought: undisclosed
132 HOTHAM STREET
REPORTED BAYSIDE PRIVATE SALES
REPORTED PORT PHILLIP PRIVATE SALES
ADDRESSBOUGHT PRICEIMPROVED $/SQM
BLACK ROCK60 Arkaringa CrescentRange: $2,042,670 - $2,247,150$1,563 - $1,719
525 Balcombe Road$1,150,000$3,808
BRIGHTON7/17 Well StreetUndisclosed
SANDRINGHAM6 Reno RoadRange: $978,180 - $1,076,100$1,179 - $1,297
ELWOOD32 Goldsmith Street$1,150,000$2,875
PORT MELBOURNE113 Dunstan ParadeUndisclosed
13 Evans StreetRange: $944,615 - $1,039,175$7,497 - $8,247
SOUTH MELBOURNE150 Nelson RoadRange: $1,630,300 - $1,793,500$9,057 - $9,964
7 Emerald Street$1,490,000$14,466
ST KILDA10 Robe Street$2,500,000$6,250
ST KILDA EAST132 Hotham StreetUndisclosed
ST KILDA, 76 Blessington St
ST KILDA, 76 Blessington St | Greg Hocking (Greg Hocking)
Under Hammer: $2,015,000 - 5 Bidders (Photo: Nikki Hills)

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