oc | Wednesday 26th February

Bayside/Port Phillip, Port Phillip



Port Phillip Weekly

Port Phillip saw a surprisingly strong clearance rate of 83% on the auctions we attended last weekend – albeit on small numbers. Of the five auctions we attended four sold at auction or shortly after – which hasn’t always been the case in Port Phillip. Clearly some vendors are recognising that if they don’t sell at auction or just after, their property could sit there going stale for some time.

Interestingly all the successful sales were for properties in the $1 million plus range – a segment where there is still some strength across Melbourne. Things are not quite so rosy in the $2 million plus range where we have seen a cooling off in the market right across Melbourne, including in Port Phillip.

Successfully  sold were:

• 405 Nott Street, Port Melbourne with Kaine Lanyon of Marshall White Real Estate – A nicely renovated two storey Victorian terrace with car parking. A strong auction with 6 bidders, sold under the hammer for $1,312,000

• 65 Mills Street, Albert Park with Oliver Bruce of Marshall White Real Estate – Double fronted period home with a reasonable floor plan, close to Albert Park Lake and the South Melbourne Market. Only one bidder, sold after auction in the range of $1.85m to $1.97m

• 82 Evans Street, Port Melbourne with Kaine Lanyon of Marshall White Real Estate – An unusually wide (7.3m) single fronted property, renovated with a good floor plan. Strong crowd of 100 despite the rain, passed in at $1.23m, and sold shortly after in the range of $1.25m and $1.35m

• 5 McGregor Street, Middle Park with David Wood of Hocking Stuart Real Estate – Single fronted Victorian terrace, in good order, no car parking. Two bidders, sold under the hammer at $1,127,500

Still on the market for now is:

• 3/242 Beaconsfield Parade, Middle Park with Andrew Stuart of Hocking Stuart Real Estate –  A third floor contemporary space of 200 sqm with views over the bay and CBD, no lift. A vendor bid of $1.8m, then passed in on a genuine bid of $1.81m and now for sale at $1.925m

What this means for buyers is that while you may need an auction strategy if you are buying a $1 million plus property, if you are buying a $2 million plus property you may need to think about an after-auction buying strategy.

 

PORT MELBOURNE, 405 Nott St
PORT MELBOURNE, 405 Nott St | Kaine Lanyon (Marshall White)
Under Hammer: $1,312,000 - 6 Bidders (Photo: Kate Agnoleto)
Bidderbuzz Auction
"A sea of colourful umbrellas filled the street at this Port Melbourne auction. In his preamble, auctioneer Kaine Lanyon explained that the buying “conditions could not be better” and that there had been a great deal of interest in the property. An opening bid from the crowd of $900,000 was promptly offered and instantly followed by a substantial rise with a bid of $1,075,000. With bidders continually emerging, the competition was obvious. The property was announced on the market at $1,300,000 but with a fifth and sixth bidder joining the rivalry, bidding was far from slowing. The property was bought under the hammer for $1,312,000 to the loud applause of the crowd of 80 in attendance. A great auction." (Kate Agnoleto)

 

Biggest Sale: ALBERT PARK, 65 Mills St
Oliver Bruce (Marshall White); After Auction, Bought range: $1,831,690 - $2,015,050 - 1 Bidders

"With dark clouds looming, auctioneer Oliver Bruce did his best to inspire the small crowd detailing the many benefits of this double fronted period home. After calling for bids, but with no response, Oliver made a vendor bid of $1,750,000. This did little to inspire any bidding and half time was called. After half time, and at the very last minute, a bid of $1,775,000 was made. After doing his best to motivate the crowd, but without success, Oliver passed the property in at $1,775,000. Bought after for an undisclosed amount. " (Mal James)

 

Biggest Pass In: BRIGHTON, 10 Kent Av
Nick Johnstone (Nick Johnstone Real Estate); Passed In: $3,300,000 - 2 Bidders

"Nick Johnstone is re-auctioning this Golden Mile new build after an unsuccessful effort last year in front of a crowd of around 60. In fact this is the third auction we have been to on this home - once when it was auctioned as a knock down a few years back, then last year and now today. Great little home - has a facade that has a bit of a look of the Addams family TV show home and I mean that in a nice way. I do like what's on offer. The question is will the market like the price - they didn't like $4,000,000 last year as there were no bidders. So the negatives are smaller land but the pluses are it's Golden Mile land and it's a great mid-sized home. Let's see what Nick can do. Bids are called for and silence. As nothing is forthcoming, a vendor bid is put in at $3,250,000. And silence. Then a bit of spunk comes from Bidder One and she says $10,000. Nick says we will be here all day and Bidder One says not we won't. I like her style. Then a second bidder comes in at $3,300,000 - bit of a surprise, and a half time break is taken. Upon Nick's return we get the usual lectures and it's passed in at $3,300,000 " (Mal James)
$1M+ bayside/port phillip Featured Auctions
555
/1000
JAMES HOME RATINGS
ALBERT PARK: 65 Mills St
65 Mills Street
BOUGHT RANGE*: $1,831,690 - $2,015,050
UNDISCLOSED
JAMES HOME RATINGS
BEAUMARIS: 4 Burgess St
4 Burgess Street
PASSED IN: $2,200,000
UNDISCLOSED
JAMES HOME RATINGS
BLACK ROCK: 286 Beach Rd
286 Beach Road
PASSED IN: $1,850,000
618
/1000
JAMES HOME RATINGS
BRIGHTON: 42 Bay St
42 Bay Street
BOUGHT RANGE*: $2,589,300 - $2,848,500
757
/1000
JAMES HOME RATINGS
BRIGHTON: 10 Kent Av
10 Kent Avenue
PASSED IN: $3,300,000
UNDISCLOSED
JAMES HOME RATINGS
BRIGHTON: 32 Lynch St
32 Lynch Street
PASSED IN: $910,000
UNDISCLOSED
JAMES HOME RATINGS
BRIGHTON: 20A Wellington St
20A Wellington Street
BOUGHT: $1,520,000
686
/1000
JAMES HOME RATINGS
BRIGHTON: 8 Young St
8 Young Street
BOUGHT RANGE*: $2,253,650 - $2,479,250
UNDISCLOSED
JAMES HOME RATINGS
HAMPTON: 37 Crisp St
37 Crisp Street
PASSED IN: $1,350,000
UNDISCLOSED
JAMES HOME RATINGS
HAMPTON: 18 Crisp St
18 Crisp Street
BOUGHT: $1,535,000
663
/1000
JAMES HOME RATINGS
MIDDLE PARK: 3/242 Beaconsfield Pde
3/242 Beaconsfield Parade
PASSED IN: $1,810,000
UNDISCLOSED
JAMES HOME RATINGS
MIDDLE PARK: 5 McGregor St
5 McGregor Street
BOUGHT: $1,127,500
680
/1000
JAMES HOME RATINGS
MIDDLE PARK: 177 Mills St
177 Mills Street
BOUGHT RANGE*: $2,282,420 - $2,510,900
No report
UNDISCLOSED
JAMES HOME RATINGS
PORT MELBOURNE: 82 Evans St
82 Evans Street
BOUGHT RANGE*: $1,213,135 - $1,334,575
UNDISCLOSED
JAMES HOME RATINGS
PORT MELBOURNE: 405 Nott St
405 Nott Street
BOUGHT: $1,312,000
Stonnington Weekly
port phillip Scheduled Auctions
MIDDLE PARK
3/242 Beaconsfield Parade, MIDDLE PARK
Passed In $1,810,000
3/242 BEACONSFIELD PARADE
PORT MELBOURNE
405 Nott Street, PORT MELBOURNE
Bought $1,312,000
405 NOTT STREET
ALBERT PARK
65 Mills Street, ALBERT PARK
Bought undisclosed
65 MILLS STREET
MIDDLE PARK
5 McGregor Street, MIDDLE PARK
Bought $1,127,500
5 MCGREGOR STREET
bayside Scheduled Auctions
BRIGHTON
42 Bay Street, BRIGHTON
Bought undisclosed
42 BAY STREET
BLACK ROCK
286 Beach Road, BLACK ROCK
Bought $1,840,000
286 BEACH ROAD
BRIGHTON
10 Kent Avenue, BRIGHTON
Bought undisclosed
10 KENT AVENUE
BRIGHTON EAST
19 Studley Road, BRIGHTON EAST
Bought $1,500,000
19 STUDLEY ROAD
ADDRESSRESULTPRICEIMPROVED $/SQMBOUGHT
BEAUMARIS
4 Burgess StreetPassed InPI: $2,200,000
17 Cloris AvenuePassed InPI: $1,700,000
BLACK ROCK
286 Beach RoadPassed InPI: $1,850,000
BRIGHTON
42 Bay StreetBoughtR: $2,589,300 - $2,848,500$2,097 - $2,3062012-05-05
66 Well StreetBoughtR: $1,639,890 - $1,804,050$1,650 - $1,8152012-05-05
8 Young StreetBoughtR: $2,253,650 - $2,479,250$2,642 - $2,9072012-05-05
20A Wellington StreetBought$1,520,000$2,6672012-05-05
32 Lynch StreetPassed InPI: $910,000$2,6672012-05-05
1 Laburnum StreetBoughtR: $1,203,545 - $1,324,025$3,325 - $3,6582012-05-05
10 Kent AvenuePassed InPI: $3,300,000$3,325 - $3,6582012-05-05
BRIGHTON EAST
269 Dendy StreetBoughtR: $819,945 - $902,025$1,358 - $1,4932012-05-05
19 Studley RoadPassed InPI: $1,500,000$1,358 - $1,4932012-05-05
HAMPTON
18 Crisp StreetBought$1,535,000$2,1172012-05-05
37 Crisp StreetPassed InPI: $1,350,000$2,1172012-05-05
SANDRINGHAM
6 Masefield AvenuePassed InPI: $1,300,000$2,1172012-05-05
ALBERT PARK
65 Mills StreetBoughtR: $1,831,690 - $2,015,050$6,835 - $7,5192012-05-05
MIDDLE PARK
3/242 Beaconsfield ParadePassed InPI: $1,810,000
177 Mills StreetBoughtR: $2,282,420 - $2,510,900$6,616 - $7,2782012-05-05
5 McGregor StreetBought$1,127,500$6,1952012-05-05
PORT MELBOURNE
405 Nott StreetBought$1,312,000$7,2492012-05-05
82 Evans StreetBoughtR: $1,213,135 - $1,334,575$6,066 - $6,6732012-05-05
bayside Private Sales
BRIGHTON EAST
42 Regent Street, BRIGHTON EAST
Bought: undisclosed
42 REGENT STREET
BRIGHTON
1 Leonie Court, BRIGHTON
Bought: undisclosed
1 LEONIE COURT
BLACK ROCK
1 Keating Street, BLACK ROCK
Bought: $1,060,000
1 KEATING STREET
BEAUMARIS
95 Haldane Street, BEAUMARIS
Bought: $1,270,000
95 HALDANE STREET
REPORTED BAYSIDE PRIVATE SALES
REPORTED PORT PHILLIP PRIVATE SALES
ADDRESSBOUGHT PRICEIMPROVED $/SQM
BEAUMARIS2/14 Reserve RoadUndisclosed
95 Haldane Street$1,270,000$1,809
8 Wellington AvenueRange: $1,006,950 - $1,107,750$1,760 - $1,937
BLACK ROCK1 Keating Street$1,060,000$1,464
BRIGHTON5 Clarkson Avenue$960,000$2,560
11 Alverna GroveUndisclosed
1 Leonie CourtUndisclosed
BRIGHTON EAST42 Regent StreetUndisclosed
SOUTH MELBOURNE6 Queen StreetUndisclosed
BRIGHTON, 8 Young St
BRIGHTON, 8 Young St | John Bongiorno (Marshall White)
After Auction: Bought range: $2,253,650 - $2,479,250 - 3 Bidders (Photo: Mal James)

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