oc | Friday 24th January

Stonnington



Stonnington Weekly

Mid Year Report:

You know what? Three cheers for Stonnington: because if it weren’t for through to there wouldn’t have been much to cheer about now at the top in 2012.

The $M+ market in Boroondara and Bayside and Port Phillip has been noticeably on the nose in 2012 when it comes to positive trends and positive stories. But all year Stonnington has been the odd one out. Stonnington, the home of established conservative money, has been bucking the trend (a little) in the negativity stakes.

To give some perspective, things haven’t been flying by any stretch of the imagination when compared with 2010. But in Stonnington, agents, sellers and buyers have been dealing in the now and looking forward rather than yearning back to the long gone golden days.

We’ve had a number of sales over $5 million, and a handful over $10 million. There have been solid on most weekends, as well as some off market and private sale activity. That has been at reduced levels, and price expectations have dropped in many cases, but more deals are being done here than elsewhere in $3M+ Melbourne.

Take Armadale. In the last few months it feels like half of $2M+ Armadale has been for sale. And for the most part buyers have been able to be matched to sellers. That is good news for the market in that it shows bidder depth for good homes, even though the wider market is hurting, and it shows vendors are listening. It also shows there are agents who have the skills to make things happen.

Our company is also up solidly in terms of activity in Boroondara and Stonnington compared to years gone by, which only confirms there are buyers out there for good quality homes.

Agency-wise, the stand out appears to be when it comes to the deals. They stole a march on the others at the start of the year, they have the Old Man back in harness and things are happening. We are not saying Marshall’s or Edgar’s are off their game. It’s just that with the market experiencing toughish times, it has got very heavy and very competitive at the top.

Long may the fight continue – it certainly gets you out of bed in the morning!

GLEN IRIS (Stonnington), 16 Vincent St
GLEN IRIS (Stonnington), 16 Vincent St | Andrew Hayne (Marshall White)
Under Hammer: $2,020,000 - 4 Bidders (Photo: Doug Paget)
Bidderbuzz Auction
"A healthy crowd witnessed an entertaining auction conducted by Andrew Hayne. He immediately accepted a bid of $1,600,000 to get the ball rolling then fielded bids from three other parties to put the property on the market at $1,900,000. Even then, it was a three way contest and this led to a final sale price of $2,020,000. I'm sure the onlookers left feeling quite satisfied with the event in terms of the fun had and the result." (Doug Paget)

 

Biggest Sale: GLEN IRIS (Stonnington), 21 Scott Gr
Mark Wridgway (RT Edgar); After Auction, $2,700,000 - 1 Bidders

"Despite the best efforts of auctioneer Mark Wridgway this was very much a lacklustre auction in front of 40 people for a home with court that had been on the market (quietly with a number of agents) for a long time. Opened with vendor bid of $2,600,000 and closed with the lone bidder at $2,620,000. Deal done afterwards for a little bit more." (Mal James)

 

Biggest Pass In: SOUTH YARRA, 60 Tyrone St
Michael Armstrong (Kay & Burton); Passed In: $1,800,000 - 0 Bidders

"The friendly team of agents from Kay and Burton were present at this auction led by the affable Michael Armstrong. The crowd squeezed onto the footpath adjacent to the property all curious to see how much this ultra modern property would go for. Unfortunately despite Mr Armstrong offering to only put in one vendor bid, there was no response from the crowd and the property was subsequently passed in." (Joshua Bong)
$1M+ stonnington Featured Auctions
UNDISCLOSED
JAMES HOME RATINGS
ARMADALE: 21 Gladstone Av
21 Gladstone Avenue
BOUGHT RANGE*: $944,615 - $1,039,175
UNDISCLOSED
JAMES HOME RATINGS
ARMADALE: 52 Kooyong Rd
52 Kooyong Road
BOUGHT: $1,650,500
UNDISCLOSED
JAMES HOME RATINGS
ARMADALE: 48 Stuart St
48 Stuart Street
BOUGHT: $1,650,000
624
/1000
JAMES HOME RATINGS
GLEN IRIS : 2 Fairview Gr
2 Fairview Grove
BOUGHT: $1,800,000
UNDISCLOSED
JAMES HOME RATINGS
GLEN IRIS : 21 Scott Gr
21 Scott Grove
BOUGHT: $2,700,000
UNDISCLOSED
JAMES HOME RATINGS
GLEN IRIS : 16 Vincent St
16 Vincent Street
BOUGHT: $2,020,000
705
/1000
JAMES HOME RATINGS
MALVERN: 17 Staniland Av
17 Staniland Avenue
BOUGHT RANGE*: $2,248,855 - $2,473,975
727
/1000
JAMES HOME RATINGS
SOUTH YARRA: 60 Tyrone St
60 Tyrone Street
PASSED IN: $1,800,000
Stonnington Weekly
stonnington Scheduled Auctions
PRAHRAN
58 Wrights Terrace , PRAHRAN
Bought undisclosed
58 WRIGHTS TERRACE
TOORAK
3/33 St Georges Road, TOORAK
Bought undisclosed
3/33 ST GEORGES ROAD
MALVERN
18 Valetta Street, MALVERN
Bought undisclosed
18 VALETTA STREET
SOUTH YARRA
60 Tyrone Street, SOUTH YARRA
Passed In $1,800,000
60 TYRONE STREET
ADDRESSRESULTPRICEIMPROVED $/SQMBOUGHT
ARMADALE
21 Gladstone AvenueBoughtR: $944,615 - $1,039,175$4,217 - $4,6392012-06-23
52 Kooyong RoadBought$1,650,500$2,2462012-06-23
48 Stuart StreetBought$1,650,000$4,4002012-06-23
GLEN IRIS
21 Scott GroveBought$2,700,000$2,1162012-06-23
2 Fairview GroveBought$1,800,000$1,8002012-06-23
16 Vincent StreetBought$2,020,000$2,3352012-06-23
MALVERN
17 Staniland AvenueBoughtR: $2,248,855 - $2,473,975$3,006 - $3,3072012-06-23
18 Valetta StreetBoughtR: $1,524,810 - $1,677,450$3,784 - $4,1622012-06-23
MALVERN EAST
6 Boston AvenueBought$1,501,000$2,2642012-06-23
PRAHRAN
58 Wrights Terrace BoughtBought (2012-07-18) - R: $1,107,645 - $1,218,525$3,780 - $4,1592012-07-18
SOUTH YARRA
60 Tyrone StreetPassed InPI: $1,800,000
783 Punt RoadBoughtBought (2012-06-25) - $1,830,000$2,1922012-06-25
67 Moore StreetBoughtR: $1,112,440 - $1,223,800$7,946 - $8,7412012-06-23
13a Chambers StreetPassed InPI: $1,400,000$7,946 - $8,7412012-06-23
TOORAK
3/33 St Georges RoadBoughtR: $1,297,527 - $1,427,415$3,944 - $4,3392012-06-23
stonnington Private Sales
SOUTH YARRA
69 Tivoli Road, SOUTH YARRA
Bought: undisclosed
69 TIVOLI ROAD
ARMADALE
1/45 Densham Road, ARMADALE
Bought: undisclosed
1/45 DENSHAM ROAD
TOORAK
6/543A Toorak Road, TOORAK
Bought: undisclosed
6/543A TOORAK ROAD
TOORAK
16 Verdant Avenue, TOORAK
Bought: undisclosed
16 VERDANT AVENUE
ADDRESSBOUGHT PRICEIMPROVED $/SQM
ARMADALE1/45 Densham RoadUndisclosed
MALVERN15 Ashley GroveRange: $2,253,650 - $2,479,250$3,725 - $4,098
MALVERN EAST16 Wattle Grove$1,350,000$2,368
SOUTH YARRA69 Tivoli RoadUndisclosed
36 Anderson StreetUndisclosed
6 Fulham AvenueRange: $4,291,525 - $4,721,125$4,030 - $4,433
TOORAK6/543A Toorak RoadRange: $2,709,175 - $2,980,375$2,980 - $3,279
16 Verdant AvenueUndisclosed
ARMADALE, 52 Kooyong Rd
ARMADALE, 52 Kooyong Rd | Lachie Fraser-Smith (Jellis Craig)
Under Hammer: $1,650,500 - 3 Bidders (Photo: Doug Paget)

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