oc | Thursday 23rd January

Boroondara



Boroondara Weekly

It was a reasonable day on the Boroondara auction streets on Saturday, although it was still a little subdued compared to Super Saturday a few weeks ago. Of the 12 auctions we attended, 9 sold and 3 passed in (75%), which aligns closely with the overall $1m+ market in Boroondara (72%).

Some observations:

  • The hammer rate, where properties sell under the hammer on auction day rather than passing in, dropped back to 9% yesterday. What does this mean? Well, if you are bidding on it might mean you are the only one bidding OR it might mean that the vendor’s expectations too high. And that means that turning up at auction is not that straightforward right now – you need multiple strategies in place. Back on Super Saturday, the hammer rate was 40%.
  • Auctioneer Hamish Tostevin () had a good day yesterday, selling 5 of the 6 properties he was involved in, and Boroondara sold 17 of 18. The one that didn’t sell was 17 Victoria Rd, , which is a good property (circa $4m) and had some good buyer interest in the high $3m, which is however not quite the level at which the vendor is prepared to sell at ($4.25m).
  • All properties sold in Kew.
  • Chris Barrett (Marshall White) sold a neat single-fronted two-storey home in in recent weeks, and Sue Wooldridge () was involved in three properties last week selling before auction.  Many properties are being sold outside of the auction space, therefore understanding of and a good deal of patience and clear thinking is needed (probably more than ever).
  • Compared to ‘Super Saturday’ three weeks ago, weekends in early December (1st and 8th) do not look like they will be as big in terms of properties on offer. That said, (Jellis Craig) confirmed to me this week that there are a number of ‘heavyweights’ coming up this week.
  • The deadline is looming. The pressure of this is likely to affect the judgment of both buyer and seller alike, so it is more important than ever to make a good decision.
  • There are plenty of off-markets out there right now and they are good properties in signature streets. Rather than relying on ‘Domain’ each day for new listings (which will cut back considerably soon, given that the auction advertising deadlines are closing for 2012) , buyers need to  be constantly enquiring through agents directly or employing professional help to source these.

There are, of course, some good properties still coming up for auction. For lovers of the style who are prepared  to renovate, 13 Lyall Street Hawthorn (Antony Woodley/James Tostevin, Marshall White) is worth a look. This property has a fantastic façade and for a single level home it as immense street presence, which is largely due to the full return veranda, complemented by original period detailing. There is also another good-looking property coming up for sale at 40 Guildford Road, with Marshall White, that should attract good interest. Oh, the power of a pretty Victorian facade!

Had an interesting meeting this week with a recent buyer of a modern home in Canterbury (about 20 years old) looking to make improvements to the dated decor. My advice was simple: neutralise colours, square off cathedral roof lines, improve bedroom sizes (even if it means converting four child bedrooms into three) and cut back the garden-bed areas to reclaim some more lawn space. I know lawns were not that popular (or successful!) a few years back when we suffered the drought, but they seem to be coming back now and it is great to see less and less of the ‘artificial’ type around.

Coffee shop of the week is ‘Once a Sailor’ on Glenferrie Road Hawthorn (former site of Café Vamp, Tribe). Coffee Mio is the coffee of here, which was OK, but what really impressed me was the fitout (the yellow china cups reminded me of Cafe Sant’Eustachio in Rome) and the take-away cups – not your standard paper ones, these had a clever hatched rib pattern that made them easy (and not so hot) to hold.

Until next week,

Design Smart,

Architect Adam

DEEPDENE, 14 Deepdene Rd
DEEPDENE, 14 Deepdene Rd | Hamish Tostevin (Marshall White)
Under Hammer: $2,730,000 - 3 Bidders (Photo: Adam Woledge)
Bidderbuzz Auction
"A 3.30pm auction, one of the last of the day and even though auctioneer Hamish Tostevin was involved in 6 today, you really wouldn't have known as he didn't skip a beat here. "100-or-so people - WOW, very good crowd" I thought as I meandered up Deepdene Road at 3.28pm. "This could be interesting!", and it was. No vendor bids needed or half time breaks taken - it was go, go go! Quickly Bidder 1 gets the action under way at $2,000,000 - below the quote but cleverly Hamish accepts and looks for $50,000 rises. He didn't need to look far or wait long, as Bidder 2 enters the fray and this auction is off and running. At $2,400,000 Bidder 1 asks the question "are we on the market?". "Fair enough", I thought. "Not quite yet" comes back Hamish and not long after at $2,450,000 the property is officially for sale to the highest Bidder. Bidder 1 is looking weak to me but it is Bidder 2 who pulls out at $2,600,000. "Might be Bidder 1's lucky day, here" I mused. Then as a complete surprise to all and sundry penciling agent Anna Perry spots another bidder and maybe this is not going to be Bidder 1's lucky day. He did try hard though and hung on hard as he could, but it was all too much and Bidder 3 won the the day at $2,730,000. Good auction, and a great result for the vendor here. " (Adam Woledge)

 

Biggest Sale: HAWTHORN, 12 Lennox St
Scott Patterson (Kay & Burton); After Auction, $2,800,000 - 2 Bidders

"I’m watching a game of cricket at the end of the street as we wait for Scott Patterson to move into auction mode in front of a medium sized crowd of 50. It feels a little subdued here for this "Balwyn formula" home ie new, mock French Provincial period facade, good finishes and overall a bigger home on smaller land. I came to this auction to see how such a home would sell in amongst a whole lot of period homes in Hawthorn. The main issues for me are the neighbours - they are units and offices and the second is it’s unusual home type for the area. The big positives are new and quality and big ceilings and ensuites galore. Anyway after we have all received a dose of charm from "Pretty Boy" Patterson we are away as Scott calls for bids. An opening bid is asked for at $2,500,000 and not forthcoming so a vendor bid is placed at this level. No action but surprisingly a second vendor bid at $2,600,000. Bidder 1 comes in at $2,650,000. After some more encouragement no additional bidding is forthcoming and a half time break is taken. After the break Bidder 2 offers $2,660,000 and bidder one returns with $2,670,000 and again and again and we are at $2,700,000 and then two more bids and we are $2,720,000. Bidder 2 is hesitating but Scott rightfully feels she may have some more in her if given time to think and so he calls for a second half time break. Smart thinking. Anyway back out they come - we are close says Scott. No surprises there - just in case there was nothing left in Bidder 2. Passed in to Bidder 1. Bought after auction." (Mal James)

 

Biggest Pass In: HAWTHORN, 3 Churchill Gr
Scott Patterson (Kay & Burton); Passed In: $1,460,000 - 1 Bidders

"A solid crowd of 100 gathered for the auction of this nicely renovated period home, with north facing rear aspect in a very convenient central Hawthorn location. Auctioneer Scott Patterson spoke in glowing terms about this home and for good reason; the owner has undertaken an amazing transformation here. Suggesting $1,400,000 would be "good place to start", Scott looked for a bidder yet, as as is often the way, opened on vendor bid at this level, then backed this up with another vendor of $1,450,000 not long after. In the end one couple put up their their hand at $1,460,000 and the property passed in at this level. " (Adam Woledge)
$1M+ boroondara Featured Auctions
753
/1000
JAMES HOME RATINGS
CAMBERWELL: 17 Fairfield Av
17 Fairfield Avenue
BOUGHT: $2,000,000
UNDISCLOSED
JAMES HOME RATINGS
CAMBERWELL: 29a Inglesby Rd
29a Inglesby Road
BOUGHT RANGE*: $1,189,160 - $1,308,200
No report
617
/1000
JAMES HOME RATINGS
CANTERBURY: 22 Selwyn St
22 Selwyn Street
BOUGHT: $1,390,000
746
/1000
JAMES HOME RATINGS
DEEPDENE: 14 Deepdene Rd
14 Deepdene Road
BOUGHT: $2,730,000
632
/1000
JAMES HOME RATINGS
GLEN IRIS: 14 Mills St
14 Mills Street
BOUGHT: $1,400,000
616
/1000
JAMES HOME RATINGS
HAWTHORN: 49 Chrystobel Cr
49 Chrystobel Crescent
BOUGHT RANGE*: $2,474,220 - $2,721,900
715
/1000
JAMES HOME RATINGS
HAWTHORN: 3 Churchill Gr
3 Churchill Grove
PASSED IN: $1,460,000
UNDISCLOSED
JAMES HOME RATINGS
HAWTHORN: 12 Lennox St
12 Lennox Street
BOUGHT: $2,800,000
UNDISCLOSED
JAMES HOME RATINGS
SURREY HILLS: 12a Durham Rd
12a Durham Road
PASSED IN: $1,260,000
557
/1000
JAMES HOME RATINGS
SURREY HILLS: 71 Essex Rd
71 Essex Road
BOUGHT RANGE*: $1,342,600 - $1,477,000
Stonnington Weekly
boroondara Scheduled Auctions
KEW
18 John Street, KEW
Bought $2,600,000
18 JOHN STREET
CANTERBURY
1/6 Gascoyne Street, CANTERBURY
Bought undisclosed
1/6 GASCOYNE STREET
BALWYN NORTH
35 Kenny Street, BALWYN NORTH
Bought $1,300,000
35 KENNY STREET
SURREY HILLS
12a Durham Road, SURREY HILLS
Passed In
12A DURHAM ROAD
ADDRESSRESULTPRICEIMPROVED $/SQMBOUGHT
ASHWOOD
47 Ashwood DriveBought$1,180,000$1,6252012-11-17
BALWYN
35 Yarrbat AvenueBoughtR: $2,061,850 - $2,268,250$3,436 - $3,7802012-11-17
BALWYN NORTH
5 Orion StreetBought$1,480,000$2,1142012-11-17
14 Kenny StreetBoughtUndisclosed2012-11-17
14 Hood StreetBought$1,115,000$1,7482012-11-17
46 Dempster AvenuePassed InPI: $1,310,000
35 Kenny StreetBought$1,300,000$1,4182012-11-17
221 Belmore RoadBoughtUndisclosed2012-11-17
48 Aquila StreetBoughtUndisclosed2012-11-17
CAMBERWELL
17 Victoria RoadBoughtR: $3,672,970 - $4,040,650$4,399 - $4,839
29a Inglesby RoadBoughtR: $1,189,160 - $1,308,200$2,378 - $2,6162012-11-17
5 Ada StreetBought$1,125,000$1,6622012-11-17
17 Fairfield AvenueBought$2,000,000$2,5032012-11-17
CANTERBURY
74 Highfield RoadPassed InPI: $1,900,000$2,5032012-11-17
1 Mont Albert RoadBoughtR: $1,433,705 - $1,577,225$1,470 - $1,6182012-11-17
1/6 Gascoyne StreetPassed InPI: $1,450,000$1,470 - $1,6182012-11-17
22 Selwyn StreetBought$1,390,000$2,9572012-11-17
DEEPDENE
14 Deepdene RoadBought$2,730,000$4,2462012-11-17
GLEN IRIS
14 Mills StreetBought$1,400,000$2,2332012-11-17
9 Flowerdale RoadNot Reported
42 Celia StreetBought$1,300,000$2,0002012-11-17
18 Beryl StreetBought$1,670,000$2,3792012-11-17
19 Denman AvenuePassed InPI: $1,000,000
32 Barina RoadBoughtR: $1,246,700 - $1,371,500$1,746 - $1,9212012-11-17
10 Clitheroe CourtPassed In
HAWTHORN
49 Chrystobel CrescentBoughtR: $2,474,220 - $2,721,900$3,321 - $3,6542012-11-17
12 Lennox StreetBought$2,800,000$6,6992012-11-17
3 Churchill GrovePassed InPI: $1,460,000$6,6992012-11-17
1 Bell StreetBoughtR: $1,137,374 - $1,251,230$4,739 - $5,2132012-11-17
2 Inverleith StreetPassed InPI: $1,100,000$4,739 - $5,2132012-11-17
8 Carson CrescentBoughtUndisclosed2012-11-17
59 Power StreetBought$1,950,000$2,6282012-11-17
HAWTHORN EAST
24 Fairmount RoadPassed InPI: $3,000,000
14 Airedale AvenueBoughtUndisclosed2012-11-17
42 Pleasant RoadPassed InPI: $1,300,000
454 Tooronga RoadBoughtUndisclosed2012-11-17
KEW
18 John StreetBought$2,600,000$2,8702012-11-17
3 RiverRetreat Not Reported
20 Argyle RoadBought$1,215,000$2,5962012-11-17
2 Rossfield AvenueBoughtUndisclosed2012-11-17
1259 Burke RoadBought$1,475,000$1,4872012-11-17
18 Scott StreetBoughtR: $1,085,109 - $1,193,733$3,862 - $4,2482012-11-17
134 Wellington StreetBoughtUndisclosed2012-11-17
1/45 Parkhill RoadBoughtUndisclosed2012-11-17
KEW EAST
3 Oxford StreetBought$1,005,000$1,6952012-11-17
MONT ALBERT
1 Laurencia CourtPassed In
MONT ALBERT NORTH
41 Allison RoadPassed InPI: $1,375,000
SURREY HILLS
12a Durham RoadPassed InPI: $1,260,000
71 Essex RoadBoughtR: $1,342,600 - $1,477,000$1,356 - $1,4922012-11-17
boroondara Private Sales
MONT ALBERT
22 Rostrevor Parade, MONT ALBERT
Bought: undisclosed
22 ROSTREVOR PARADE
BALWYN NORTH
10 Duggan Street, BALWYN NORTH
Bought: undisclosed
10 DUGGAN STREET
BALWYN
20 Nott Street, BALWYN
Bought: undisclosed
20 NOTT STREET
BALWYN NORTH
33 Tuxen Street, BALWYN NORTH
Bought: undisclosed
33 TUXEN STREET
ADDRESSBOUGHT PRICEIMPROVED $/SQM
BALWYN20 Nott StreetRange: $1,323,420 - $1,455,900$1,600 - $1,760
BALWYN NORTH10 Duggan StreetRange: $1,213,135 - $1,334,575$1,465 - $1,612
33 Tuxen StreetRange: $1,726,200 - $1,899,000$1,694 - $1,864
221 Belmore RoadUndisclosed
CAMBERWELL3 Kirkwood DriveRange: $1,390,550 - $1,529,750$2,452 - $2,698
HAWTHORN49 Chrystobel CrescentUndisclosed
70 Elgin Street$1,917,000$2,198
KEW8 Segtoune Street$2,198
MONT ALBERT22 Rostrevor ParadeRange: $959,000 - $1,055,000$1,147 - $1,262
CAMBERWELL, 17 Fairfield Av
CAMBERWELL, 17 Fairfield Av | Hamish Tostevin (Marshall White)
After Auction: $2,000,000 - 2 Bidders (Photo: Adam Woledge)

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