oc | Friday 24th January

Bayside, Bayside/Port Phillip



Bayside Weekly

Ian Jackson of moved a couple of biggies this week with an off-market property producing the second biggest number in Bayside this year, as well as another with large , tennis court and pool at 522 Balcombe Road Black Rock. It had an ask above $3m but got a result below $3m.

Normanby St, , the one lined with brick Victorians, was the tale of two with No 12 selling before auction over $3m through Dennis Bowen-Day of Biggin and Scott, and its compadre at 22 failing to get even a whimper at auction. Not surprising – we rated the home well at 741/1000 (great spot and block, but weak reno and aspect), but the asking price seemed from another era.

Still, it was better news for Campbell Cooney from Hodges with 75 Roslyn St, Brighton selling just before auction – a good result. This result for this newish type home represents a drop of over $300,000 on the sale price in 2010 and 10% below the other time it sold in the middle of the GFC in 2008. The result was a little bit about the price paid previously, a little bit about the type of home it is (it is getting past its used-by date), and a lot about where the market in Bayside has gone in 18 months.

There was a good sale at 45 Middle Crescent Brighton with Jackie Maggs and the Jonathan Dixon, which sold under the hammer (see our auction report below) for $2,910,000. Really liked the home – super classy design.

In Bayside away from Brighton the pass-in is almost the only result – but the offerings in the main have not been all that exciting.

Land Values

Elwood: Not a lot has been happening in Elwood of late. It has taken on the mantle of a bit of fringe suburb, which is surprising to us. Prices have just not been flying there like they used to. Take, for example, the land sale at 5 Ruskin St Elwood which had been listed with another company at $1.35m to $1.45m earlier before being sold by Michael Townsend of Hodges for around $1.1m. That sale price says land in a good street in Elwood is around $2300 per square metre, which is a fair drop from the $3,000+ per square metre we were using in calculations 18 months ago.

Agent Question: How has the market been since the school holidays?

David Hart, Buxton (Brighton): ”Since the holidays, the number of sales across Brighton has been well down on previous years. Over the last 3 weeks or so, stock levels have been steadily rising in anticipation of the spring market. Our own forthcoming auction listings have tripled in that time, and quite a few owners are now contemplating a spring sale. The market has been quite healthy for quality, well priced homes. It would appear that most vendors and buyers are now pretty much on the same page with price.”

 

GLEN IRIS (Stonnington), 8 Viva St
GLEN IRIS (Stonnington), 8 Viva St | Andrew Hayne (Marshall White)
Under Hammer: $1,885,000 - 5 Bidders (Photo: Gina Kantzas)
Bidderbuzz Auction
"I always enjoy auctions conducted by Andrew Hayne because he has the timing of a seasoned comic - in his ability to create those unexpected moments while still keeping it light! Today was no exception. The self-proclaimed "one-and-only Vendor Bid Auctioneer" was in fine form in front of a 150 plus crowd. This big crowd enjoyed the winter sunshine while Andrew managed 5 bidders to ultimately sell this fully renovated period home under the hammer. Andrew opened the auction with a vendor bid of $1,600,000, eager to explain that was at the quote level and called for $20,000 rises. Bidder 1 and bidder 2 took it up in $20,000's until bidder 2 reduced the bids to $10,000's with a $1,750,000 bid. At this point, bidder 3 enter the arena, which prompted bidder 2 to ask "Is it on the market?" "I'll tell you when," Andrew reassured bidder 2. Bidder 3 offered a $5,000 rise at $1,770,000 but this was politely rejected by Andrew. This left bidders 1 and 2 to continue along until bidder 4 came in with a confident $1,780,000 offer. Not on the market at $1,800,000 but thanks for asking again bidder 2. From here they went up in $5,000s, each time bidder 4 coming back quickly with his bids. Still not on the market at $1,830,000 but bidder 5 entered anyway to challenge the leader which was bidder 4. When it was finally on the market at $1,855,000, Andrew remembered to advise bidder 2 of this but he was out of the game by now. It was a two horse race between bidder 4 and 5 now with bidder 4 taking out the honours at $1,885,000. " (Gina Kantzas)

 

Biggest Sale: TOORAK, 13 Cole Ct
Jeremy Fox (RT Edgar); Under Hammer, $5,500,000 - 3 Bidders

"With Ferraris and Lamborghinis lining the street, there was a feeling of excitement and anticipation in the air. “Blue chip real estate with the wow factor – it doesn’t get much better than this,” were the passionate words of auctioneer Jeremy Fox in his preamble. Mr Fox looked for an opening bid and one was eventually offered by a crowd member of $5,000,000. A second bidder joined the action offering $5,050,000 and the competition began. With incremental rises of $50,000 and a third bidder entering proceedings, the property was announced on the market at $5,400,000. With bidding continuing, the property was soon bought under the hammer for $5,500,000 and the applause of the 70 in attendance filled the street." (Kate Agnoleto)

 

Biggest Pass In: EAST MELBOURNE, 123 Gipps St
Jeremy Fox (RT Edgar); Passed In: $3,800,000 - 0 Bidders

"With the gentle trickle of water from the property’s fountain, the chatter from the crowd of 50 and the four dogs sitting patiently at the feet of their owners, the scene was set for this East Melbourne auction. In his preamble, auctioneer Jeremy Fox stated that in his 32 year career, the present was the best time to buy real estate. In what Mr Fox regarded as one of the best streets in East Melbourne, he said the property had been renovated "to within an inch of its life". Mr Fox opened with a vendor bid of $3,800,000 and looked for $20,000 rises. Despite his best efforts, the crowd remained silent and the property was passed in. The crowd was slow to disperse." (Kate Agnoleto)
$1M+ bayside Featured Auctions
669
/1000
JAMES HOME RATINGS
ALBERT PARK: 17 Hambleton St
17 Hambleton Street
BOUGHT RANGE*: $1,985,130 - $2,183,850
603
/1000
JAMES HOME RATINGS
ARMADALE: 4 Hume St
4 Hume Street
BOUGHT RANGE*: $1,625,505 - $1,788,225
598
/1000
JAMES HOME RATINGS
ASHBURTON: 156 Ashburn Gr
156 Ashburn Grove
BOUGHT*: Undisclosed
UNDISCLOSED
JAMES HOME RATINGS
BLACK ROCK: 54 Stanley St
54 Stanley Street
PASSED IN: $1,250,000
UNDISCLOSED
JAMES HOME RATINGS
BRIGHTON: 45 Middle Cr
45 Middle Crescent
BOUGHT RANGE*: $2,790,690 - $3,070,050
741
/1000
JAMES HOME RATINGS
BRIGHTON: 22 Normanby St
22 Normanby Street
PASSED IN: $3,300,000
UNDISCLOSED
JAMES HOME RATINGS
BRIGHTON: 75 Roslyn St
75 Roslyn Street
BOUGHT: $2,300,000
No report
UNDISCLOSED
JAMES HOME RATINGS
BRIGHTON: 3/61 Well St
3/61 Well Street
BOUGHT: $2,525,000
653
/1000
JAMES HOME RATINGS
BRIGHTON EAST: 16 Moore St
16 Moore Street
BOUGHT: $1,120,000
UNDISCLOSED
JAMES HOME RATINGS
CAMBERWELL: 608 Riversdale Rd
608 Riversdale Road
BOUGHT RANGE*: $3,068,800 - $3,376,000
605
/1000
JAMES HOME RATINGS
CANTERBURY: 9 Selwyn St
9 Selwyn Street
PASSED IN: $1,600,000
762
/1000
JAMES HOME RATINGS
EAST MELBOURNE: 123 Gipps St
123 Gipps Street
PASSED IN: $3,800,000
629
/1000
JAMES HOME RATINGS
ELWOOD: 1 Addison St
1 Addison Street
BOUGHT RANGE*: $1,424,115 - $1,566,675
655
/1000
JAMES HOME RATINGS
ELWOOD: 98 Addison St
98 Addison Street
PASSED IN: $1,410,000
UNDISCLOSED
JAMES HOME RATINGS
GLEN IRIS: 24 Beryl St
24 Beryl Street
BOUGHT RANGE*: $1,574,678 - $1,732,310
665
/1000
JAMES HOME RATINGS
GLEN IRIS : 8 Viva St
8 Viva Street
BOUGHT: $1,885,000
682
/1000
JAMES HOME RATINGS
HAWTHORN: 4 Bowen St
4 Bowen Street
BOUGHT*: Undisclosed
558
/1000
JAMES HOME RATINGS
HAWTHORN: 44 Chrystobel Cr
44 Chrystobel Crescent
PASSED IN: $2,760,000
698
/1000
JAMES HOME RATINGS
KEW: 14 Molesworth St
14 Molesworth Street
PASSED IN: $2,950,000
UNDISCLOSED
JAMES HOME RATINGS
MALVERN: 29 Glendearg Gr
29 Glendearg Grove
PASSED IN: $1,250,000
578
/1000
JAMES HOME RATINGS
MALVERN: 26 Parslow St
26 Parslow Street
BOUGHT RANGE*: $2,205,700 - $2,426,500
No report
719
/1000
JAMES HOME RATINGS
MALVERN EAST: 14 Oak Gr
14 Oak Grove
BOUGHT RANGE*: $1,702,225 - $1,872,625
No report
736
/1000
JAMES HOME RATINGS
MONT ALBERT: 17 Victoria Cr
17 Victoria Crescent
BOUGHT: $2,810,000
UNDISCLOSED
JAMES HOME RATINGS
PORT MELBOURNE: 45 Stokes St
45 Stokes Street
PASSED IN: $1,065,000
698
/1000
JAMES HOME RATINGS
SANDRINGHAM: 9 Susan St
9 Susan Street
PASSED IN: $1,360,000
UNDISCLOSED
JAMES HOME RATINGS
TOORAK: 13 Cole Ct
13 Cole Court
BOUGHT: $5,500,000
UNDISCLOSED
JAMES HOME RATINGS
TOORAK: 1 Glenbervie Rd
1 Glenbervie Road
PASSED IN: $2,300,000
UNDISCLOSED
JAMES HOME RATINGS
TOORAK: 26 Warra St
26 Warra Street
PASSED IN: $1,450,000
Stonnington Weekly
ADDRESSRESULTPRICEIMPROVED $/SQMBOUGHT
BEAUMARIS
21 Cavell CourtPassed InPI: $1,000,000
BLACK ROCK
54 Stanley StreetPassed InPI: $1,250,000
BRIGHTON
75 Roslyn StreetBought$2,300,000$3,5332012-08-11
3/61 Well StreetBought$2,525,000$3,4122012-08-11
22 Normanby StreetPassed InPI: $3,300,000$3,4122012-08-11
45 Middle CrescentBoughtR: $2,790,690 - $3,070,050$4,274 - $4,7012012-08-11
7 Lynch StreetBought$1,110,000$2,8242012-08-11
372 St Kilda StreetBought$1,180,000$3,1052012-08-11
BRIGHTON EAST
16 Moore StreetBought$1,120,000$3,0032012-08-11
1 Cambridge StreetBought$1,025,000$1,4582012-07-19
1 Meyer CourtBought$1,180,000$1,9932012-08-11
SANDRINGHAM
9 Susan StreetPassed InPI: $1,360,000$1,9932012-08-11
BALWYN
2 Liboria StreetPassed InPI: $1,600,000$1,9932012-08-11
BALWYN NORTH
33 Nicholson StreetPassed InPI: $1,005,000$1,9932012-08-11
166 Maud StreetBoughtUndisclosed2012-08-11
CAMBERWELL
5 Bethela StreetPassed InPI: $1,550,0002012-08-11
608 Riversdale RoadBoughtR: $3,068,800 - $3,376,000$2,939 - $3,2342012-08-11
CANTERBURY
9 Selwyn StreetPassed InPI: $1,600,000$2,939 - $3,2342012-08-11
GLEN IRIS
24 Beryl StreetBoughtR: $1,574,678 - $1,732,310$2,215 - $2,4362012-08-11
43 Summerhill RoadPassed InPI: $1,170,000$2,215 - $2,4362012-08-11
21 Iris RoadBoughtR: $1,064,490 - $1,171,050$1,493 - $1,6422012-08-11
10 Anthony StreetBoughtR: $992,565 - $1,091,925$3,583 - $3,9422012-08-11
HAWTHORN
44 Chrystobel CrescentPassed InPI: $2,760,000
4 Bowen StreetBoughtUndisclosed2012-08-11
HAWTHORN EAST
29 Bowler StreetBoughtR: $897,624 - $987,480$3,229 - $3,5522012-08-11
KEW
13 Raven StreetPassed InPI: $3,000,000
71 Tennyson StreetNot Reported
98 Harp RoadBought$1,030,000$1,5682012-08-11
166 Cotham RoadBoughtBought (2012-08-18) - $856,000$1,7402012-08-18
14 Molesworth StreetPassed InPI: $2,950,000$1,7402012-08-18
37 Cotham RoadBoughtR: $839,125 - $923,125$3,343 - $3,6782012-08-11
1 Laver StreetBoughtR: $1,294,650 - $1,424,250$1,806 - $1,9862012-08-11
KEW EAST
4 Coleman AvenuePassed InPI: $1,900,000
MONT ALBERT
17 Victoria CrescentBought$2,810,000$4,0322012-08-11
11 Wellesley StreetBought$1,500,000$1,5972012-08-11
5 Zetland RoadBoughtBought (2012-08-31) - R: $1,558,375 - $1,714,375$1,512 - $1,6632012-08-31
SURREY HILLS
1/19 Durham RoadBoughtUndisclosed2012-08-11
2 Russell StreetBought$1,815,000$2,6192012-08-11
EAST MELBOURNE
123 Gipps StreetPassed InPI: $3,800,000$2,6192012-08-11
MOONEE PONDS
42 Bowen StreetBought$525,000$2,4422012-08-11
ALBERT PARK
17 Hambleton StreetBoughtR: $1,985,130 - $2,183,850$5,077 - $5,5852012-08-11
1 Little OGrady StreetNot Reported
ELWOOD
98 Addison StreetPassed InPI: $1,410,000
1 Addison StreetBoughtR: $1,424,115 - $1,566,675$3,172 - $3,4892012-08-11
MIDDLE PARK
83 Carter StreetPassed InPI: $1,400,000$3,172 - $3,4892012-08-11
PORT MELBOURNE
163 Stokes StreetBoughtR: $839,125 - $923,125$2,497 - $2,7472012-08-11
45 Stokes StreetPassed InPI: $1,065,000
143 Cruikshank StreetPassed InPI: $1,200,000
ARMADALE
4 Hume StreetBoughtR: $1,625,505 - $1,788,225$4,126 - $4,5392012-08-11
34 Seymour AvenuePassed InPI: $1,260,000$4,126 - $4,5392012-08-11
GLEN IRIS
8 Viva StreetBought$1,885,000$2,9092012-08-11
KOOYONG
75 Talbot CrescentBought$900,000$3,0102012-08-11
MALVERN
29 Glendearg GrovePassed InPI: $1,250,000$3,0102012-08-11
26 Parslow StreetBoughtR: $2,205,700 - $2,426,500$4,858 - $5,3452012-08-11
MALVERN EAST
1A Millewa AvenueBoughtR: $1,083,670 - $1,192,150$3,408 - $3,7492012-08-11
14 Oak GroveBoughtR: $1,702,225 - $1,872,625$2,627 - $2,8902012-08-01
PRAHRAN
576 High StreetPassed InPI: $1,150,000
SOUTH YARRA
26 Moore StreetBoughtR: $1,004,553 - $1,105,113$3,575 - $3,9332012-08-11
57 Cromwell RoadPassed InPI: $1,150,000$3,575 - $3,9332012-08-11
TOORAK
13 Cole CourtBought$5,500,000$13,0952012-08-11
1 Glenbervie RoadPassed InPI: $2,300,000
26 Warra StreetPassed InPI: $1,450,000
bayside Private Sales
BRIGHTON
4 Avonbury Court, BRIGHTON
Bought: undisclosed
4 AVONBURY COURT
glen eira Private Sales
ELSTERNWICK
41 Shoobra Road, ELSTERNWICK
Bought: $1,725,000
41 SHOOBRA ROAD
boroondara Private Sales
MONT ALBERT
6 Curlewis Street, MONT ALBERT
Bought: undisclosed
6 CURLEWIS STREET
glen eira Private Sales
BENTLEIGH
11 Cushing Avenue, BENTLEIGH
Bought: undisclosed
11 CUSHING AVENUE
REPORTED BAYSIDE PRIVATE SALES
REPORTED BOROONDARA PRIVATE SALES
REPORTED GLEN EIRA PRIVATE SALES
REPORTED PORT PHILLIP PRIVATE SALES
REPORTED STONNINGTON PRIVATE SALES
ADDRESSBOUGHT PRICEIMPROVED $/SQM
BEAUMARIS96 Tramway Parade$1,200,000$1,247
63 Haldane StreetUndisclosed
BLACK ROCK522 Balcombe RoadRange: $2,589,300 - $2,848,500$1,207 - $1,327
BRIGHTON4 Avonbury CourtUndisclosed
BRIGHTON EAST14 Centre RoadUndisclosed
19 Garden Avenue$2,000,000$1,498
BALWYN90 Rochester Road$1,200,000$1,630
41 Winmalee RoadUndisclosed
BALWYN NORTH6 Macassar StreetUndisclosed
24 Jacka StreetRange: $2,781,100 - $3,059,500$2,060 - $2,266
CAMBERWELL6 Marlborough AvenueRange: $1,824,977 - $2,007,665$2,340 - $2,574
23 Moorhead Street$1,050,000$1,882
CANTERBURY15 Chaucer CrescentUndisclosed
HAWTHORN1B Hepburn StreetRange: $1,337,805 - $1,471,725$15,377 - $16,916
KEW33 Peel StreetRange: $1,591,940 - $1,751,300$2,211 - $2,432
89 Gladstone Street$1,250,000$1,981
MONT ALBERT6 Curlewis StreetRange: $1,244,782 - $1,369,390$2,272 - $2,499
MONT ALBERT NORTH24a Jackson AvenueRange: $1,098,055 - $1,207,975$1,968 - $2,165
BENTLEIGH11 Cushing AvenueRange: $1,045,310 - $1,149,950$1,894 - $2,083
ELSTERNWICK41 Shoobra Road$1,725,000$2,073
MCKINNON2 Clee StreetUndisclosed
ORMOND19 Anthony Street$205,000$317
ELWOOD6 Vautier Street$1,750,000$2,971
MIDDLE PARK69 Mills Street$1,105,000
SOUTH YARRA19 Cliff StreetRange: $2,685,200 - $2,954,000$4,873 - $5,361
MONT ALBERT, 17 Victoria Cr
MONT ALBERT, 17 Victoria Cr | Richard Earle (Jellis Craig)
Under Hammer: $2,810,000 - 4 Bidders (Photo: Joshua Bong)

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