oc | Thursday 23rd January

Boroondara



Boroondara Weekly

On Saturday I attended four auctions in Boroondara and all four sold – yet only one of these was under the hammer. In a word, the market is very ‘mixed’ right now and with the Grand Final only five weeks away, pickings remain slim.

This week I attended the 2012 Client Seminar (thanks to the two Richards – Winneke and Earle), which was hosted by the internationally recognised trend forecaster, Bernard Salt. A resident of Boroondara himself, Bernard gave some really interesting insights into where things could go for the inner eastern in the next 10-20 years. Two key points relative to the Boroondara market were –

  1. Increasing life expectancy is creating new stages of the lifecycle; and with that, more people are likely to sell the big family home (as superannuation may not suffice their lifestyles, post-retirement) and remain in the area in smaller scale houses/units.
  2. There has been a huge of Chinese and Indian migrants to Melbourne over the past 10 years (2009 saw the peak), concentrating around the eastern fringe of Boroondara (i.e. Mt Waverley, and  Doncaster).

According to Salt, in time these demographics will have a big influence on property values in the Boroondara heartland.

Renovation of the week – 4 Queen Street, (Greg Toogood / Steve Abbott, Jellis Craig). Quoted at $2,500,000 plus, this original double-fronted Edwardian has been totally transformed and has all the bells and whistles, with a very functional floor plan and perhaps the biggest main bedroom dressing room I can remember ever seeing. I really liked the treatment of the garage – an understated ‘black box’ which sits off to the side of the house and does not compete with the original façade or try to blend in. Of course there are some possible concerns from a buyer’s perspective (no bath upstairs, limited acoustic separation, bleak outlook from the first floor),  however overall this property should go well, one would think.

A key sale of note –

28 Sackville Street, Kew (Paul Pfieffer, ) – 765m2, sold for a tad over $2,000,000 (equating to around $2700/m2), pre-auction.

In terms of coffee it was good to get back to The Oak Room (4/305 High Street ) this week. A year or so on and the business looks like it is still humming along very well, and the service as friendly as ever. Keep up the good work  guys – the area needs you!

Until next week,

Design Smart,

Architect Adam

GLEN IRIS, 20 Hillcrest Rd
GLEN IRIS, 20 Hillcrest Rd | Daniel Wheeler (Marshall White)
Under Hammer: $1,655,000 - 5 Bidders (Photo: Joshua Bong)
Bidderbuzz Auction
"The slivers of sunlight brought little relief from the cold as a crowd of 60 gathered to watch the auction of this family home built 15 years ago. Offering the property as a great proposition for the families in attendance, auctioneer Daniel Wheeler did not have to wait long for bids as a strong $1,350,000 was immediately accepted as an opening bid. Two more bidders joined in not long after this and it was clear that some of the bidders wanted to raise their new families in the area with the bids intensifying and rising fast. An on the market question was asked and accepted by Mr Wheeler at $1,540,000 and this is where things started to get interesting, with another two more bidders joining in. Five bidders in total fought it out for the property with each one declaring they were out and then jumping back in which brought a lot of chuckles from the crowd. With the bids slowly trickling to $500 bids the crowd were starting to wonder when the auction would end. 40 minutes later, after countless bids the property was finally knocked down to the delight of the winning bidders at $1,655,000." (Joshua Bong)

 

Biggest Sale: CANTERBURY, 22 Victoria Av
Alastair Craig (Jellis Craig); After Auction, Bought range: $4,675,125 - $5,143,125 - 1 Bidders

"A strong crowd of 100 turned up to watch auctioneer Alastair Craig introduce the period home he described as, ‘One of the best Victorian era homes to come on the market in a long time’. The chatter from the crowd revealed an audience also taken with the property and a sense of anticipation was building for this auction. Mr Craig had to pinch himself and cut short the long list of superlatives - there was business to be done. With formalities out of the way, a vendor bid of $4,600,000 was announced. The crowd sat tight, another vendor bid of $4,700,000 was lodged, and a half time break called upon. Back for the second half, and still nobody emerged as a contender, this prompted Mr Craig to start counting a pass in, ‘A one, a two … and … a …’ Yes! One crowd bid of $4,800,000 sneaks in at the close and secures post-auction negotiation rights. Bought after auction for an undisclosed amount." (Randall Smith)

 

Biggest Pass In: KEW, 30 Walpole St
Richard James (Jellis Craig); Passed In: $3,600,000 - 0 Bidders

"When auctioneer Richard James suggested that a good start to this auction would be near the quoted range of $3,500,000, the members of the crowd were amused when,  in a confident voice, a young girl offered 10 cents! With the ice broken it was down to business as Richard called for the real players to engage in the process. Still no bids and Richard increased the vendor bid to $3,600,000 before he called for half time. The break had little affect on the crowd as they still had their hands firmly placed in their pockets and the property was passed in at $3,600,000. There was still hope, however, as an interested party had gone in to negotiate" (Guy Angwin)
$1M+ boroondara Featured Auctions
612
/1000
JAMES HOME RATINGS
CAMBERWELL: 36 Currajong Av
36 Currajong Avenue
PASSED IN: $1,620,000
UNDISCLOSED
JAMES HOME RATINGS
CAMBERWELL: 31 Russell St
31 Russell Street
BOUGHT: $0
No report
691
/1000
JAMES HOME RATINGS
CANTERBURY: 43 Chaucer Cr
43 Chaucer Crescent
BOUGHT RANGE*: $1,745,380 - $1,920,100
UNDISCLOSED
JAMES HOME RATINGS
CANTERBURY: 23 Hopetoun Av
23 Hopetoun Avenue
BOUGHT: $1,800,000
664
/1000
JAMES HOME RATINGS
CANTERBURY: 22 Victoria Av
22 Victoria Avenue
BOUGHT RANGE*: $4,675,125 - $5,143,125
UNDISCLOSED
JAMES HOME RATINGS
GLEN IRIS: 20 Hillcrest Rd
20 Hillcrest Road
BOUGHT: $1,655,000
662
/1000
JAMES HOME RATINGS
GLEN IRIS: 53 Rowen St
53 Rowen Street
BOUGHT*: Undisclosed
706
/1000
JAMES HOME RATINGS
HAWTHORN: 11a Elmie St
11a Elmie Street
BOUGHT: $3,300,000
621
/1000
JAMES HOME RATINGS
HAWTHORN: 67 Manningtree Rd
67 Manningtree Road
BOUGHT: $1,870,000
UNDISCLOSED
JAMES HOME RATINGS
KEW: 264 Cotham Rd
264 Cotham Road
PASSED IN: $2,700,000
UNDISCLOSED
JAMES HOME RATINGS
KEW: 30 Walpole St
30 Walpole Street
PASSED IN: $3,600,000
605
/1000
JAMES HOME RATINGS
MONT ALBERT: 12 Barloa Rd
12 Barloa Road
BOUGHT: $1,237,000
Stonnington Weekly
boroondara Scheduled Auctions
GLEN IRIS
51 Pascoe Street, GLEN IRIS
Bought undisclosed
51 PASCOE STREET
CAMBERWELL
36 Currajong Avenue, CAMBERWELL
Bought $1,650,000
36 CURRAJONG AVENUE
CANTERBURY
22 Victoria Avenue, CANTERBURY
Bought undisclosed
22 VICTORIA AVENUE
CANTERBURY
23 Hopetoun Avenue, CANTERBURY
Bought $1,800,000
23 HOPETOUN AVENUE
ADDRESSRESULTPRICEIMPROVED $/SQMBOUGHT
BALWYN
7 Parring RoadBoughtR: $1,649,480 - $1,814,600$1,427 - $1,5702012-08-25
BALWYN NORTH
14 Aquila StreetBought$1,450,000$2,0372012-08-25
13 Hood StreetBoughtR: $1,244,782 - $1,369,390$1,939 - $2,1332012-08-22
CAMBERWELL
6 Pine AvenueBoughtR: $1,620,710 - $1,782,950$1,854 - $2,0402012-08-25
31 Russell StreetBought$1,655,000$2,6872012-08-20
36 Currajong AvenuePassed InPI: $1,620,000$2,6872012-08-20
12 Fairview AvenuePassed InPI: $1,005,000
1 Athelstan RoadBoughtR: $925,435 - $1,018,075$1,383 - $1,5222012-08-25
CANTERBURY
22 Victoria AvenueBoughtR: $4,675,125 - $5,143,125$2,577 - $2,8352012-08-25
9 Gascoyne StreetPassed InPI: $1,830,000$2,577 - $2,8352012-08-25
62 Wentworth AvenueBoughtR: $1,726,200 - $1,899,000$2,256 - $2,4822012-08-25
43 Chaucer CrescentBoughtR: $1,745,380 - $1,920,100$2,020 - $2,2222012-08-25
23 Hopetoun AvenueBought$1,800,000$2,4492012-08-25
GLEN IRIS
8 Prosper ParadeBoughtR: $911,050 - $1,002,250$897 - $9862012-08-25
49 Iris RoadBought$1,365,000$3,4382012-08-25
51 Pascoe StreetPassed InPI: $1,185,000$3,4382012-08-25
20 Hillcrest RoadBought$1,655,000$2,2922012-08-25
53 Rowen StreetBoughtUndisclosed2012-08-25
HAWTHORN
11a Elmie StreetBought$3,300,000$3,9382012-08-25
67 Manningtree RoadBought$1,870,000$2,5622012-08-25
23 Burton AvenueBought$1,360,000$2,6822012-08-25
18 Hunter StreetBought$1,000,000$3,8612012-08-25
36 Henrietta StreetBought$1,066,500$3,0472012-08-25
HAWTHORN EAST
63 Harcourt StreetPassed InPI: $1,490,000
KEW
30 Walpole StreetBoughtUndisclosed2012-08-25
264 Cotham RoadPassed InPI: $2,700,0002012-08-25
215 Brougham StreetBought$1,190,000$4,1462012-08-25
MONT ALBERT
12 Barloa RoadBought$1,237,000$1,7252012-08-25
SURREY HILLS
3 Boronia StreetBoughtR: $800,765 - $880,925$1,117 - $1,2292012-08-25
2/5 Payne StreetBoughtR: $867,895 - $954,775$2,243 - $2,4672012-08-25
boroondara Private Sales
KEW
23 Queen Street, KEW
Bought: undisclosed
23 QUEEN STREET
BALWYN NORTH
42 Stephens Street, BALWYN NORTH
Bought: undisclosed
42 STEPHENS STREET
SURREY HILLS
11 Sunbury Crescent, SURREY HILLS
Bought: $1,050,000
11 SUNBURY CRESCENT
BALWYN NORTH
13 Lansdown Street, BALWYN NORTH
Bought: undisclosed
13 LANSDOWN STREET
ADDRESSBOUGHT PRICEIMPROVED $/SQM
BALWYN2 Liboria Street$1,620,000$1,998
BALWYN NORTH42 Stephens StreetRange: $1,563,170 - $1,719,650$2,025 - $2,228
13 Lansdown StreetUndisclosed
CAMBERWELL24 Range Street$1,785,000$3,635
5 Bethela StreetUndisclosed
CANTERBURY22 Victoria AvenueUndisclosed
43 Wattle Valley Road$1,585,000$1,617
9 Selwyn StreetRange: $1,534,400 - $1,688,000$2,557 - $2,813
HAWTHORN14 Glen Street$1,452,500$2,946
HAWTHORN EAST19 Bethune StreetUndisclosed
19 Selwood StreetRange: $1,294,650 - $1,424,250$2,354 - $2,590
KEW28 Sackville StreetUndisclosed
28 Sackville StreetRange: $1,989,925 - $2,189,125$2,594 - $2,854
405 Barkers RoadRange: $2,464,630 - $2,711,350$1,646 - $1,811
23 Queen StreetRange: $2,085,825 - $2,294,625$4,564 - $5,021
SURREY HILLS225 Prospect Hill RoadRange: $1,323,420 - $1,455,900$1,830 - $2,014
11 Sunbury Crescent$1,050,000$773
HAWTHORN, 67 Manningtree Rd
HAWTHORN, 67 Manningtree Rd | Alastair Craig (Jellis Craig)
Under Hammer: $1,870,000 - 4 Bidders (Photo: Adam Woledge)

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