oc | Sunday 26th January

Stonnington



Stonnington Weekly

As this is the final Marketnews for 2012, some highlights below

Most memorable auction;

3 Royal Crescent (Mark Wridgway) on 16th June 2012

With the two bidders at 50 paces, mobile phones in hand, the crowd of 80 soon took sides including some cheering of the bidders and a feeling of battle soon emerged.  Auctioneer Mark Wridgway was authoritative throughout to keep the momentum and manage the best result for his vendor whilst giving each bidder the best chance to compete.   https://marketnews.com.au/auction-reviews/19850/3-Royal-Crescent-ARMADALE/

Most memorable auction day;

8th September 2012 – 3 very odd actions

  • Auction Oddity No 1: The $525,000 Up Bid at 25 Huntingtower Road, Armadale

Auctioneer managed 5 bidders during a tense situation when a lady in the crowd saved a nervous bidder from a monumental bid – highlighting that there is a lot more at an auction than people think. https://marketnews.com.au/2012/09/what-is-really-going-on-at-some-inner-melbourne-auctions/

  • Auction Oddity No 2: The Clayton’s Reserve at 8 Rose St Armadale.

Quoting: $1,500,000, Vendor Bid: $1,500,000, Passed-In to Bidder One: $1,510,000, Vendor Reserve given to Bidder One: $2,050,000

How can a vendor be allowed to give such a Clayton’s Reserve? This started some serious talk around town about underquoting … https://marketnews.com.au/auction-reviews/20842/8-Rose-Street-ARMADALE/

  • Auction Oddity No 3: Sold Under the Hammer. No it’s not, even when you think it is. 8 Davis St

Winning bidders had an argument before signing and walk out – raised questions over the law as the underbidder bought the an hour later for less than the hammer rate and the vendors ended up losing money on an unfulfilled contract https://marketnews.com.au/2012/09/sold-under-the-hammer-no-its-not-even-when-you-think-it-is/

And This Week – the final word from agents;

Justin Long, (Armadale): This year has certainly been a far more free-flowing year than last year as vendor realism has caught up with current market conditions. In many parts of the market, there may even have been the mildest hint of upward pressure on prices giving us hope that the new year will be a little less of a grind than the last 18 months have been. The reasonably priced, better quality stock has been avidly pursued whilst the less attractive properties have simply been either priced sensitively to attract interest or have just continued to sit on the sidelines.

Andrew James, (Armadale): I believe the market has performed well over the past 11 months during some challenging economic times. Good the year so far demonstrate considerable strength and success in the inner city market. Next year we are expecting a similar market where will still be sought after. If we have a drop in interest rates that will help market confidence further.

MALVERN, 210 Wattletree Rd
MALVERN, 210 Wattletree Rd | Andrew Hayne (Marshall White)
Under Hammer: Bought range: $1,433,705 - $1,577,225 - 3 Bidders (Photo: Gina Kantzas)
Bidderbuzz Auction
"Andrew Hayne starts briskly in front of a crowd of about 50. This is a home that appeals to a wide range of people and that is quickly proven when two bidders join in at $1,125,000 after an opening vendor bid of $1,100,000. Shortly after a few bids in the $5000s Bidder one and Bidder two get the property on the market at $1,300,000 and a third bidder joins in around $1,400,000. Bidders 1 and 3 take the property to the finish line and the property is bought under the hammer by Bidder 1 at an undisclosed amount above $1,420,000. " (Gina Kantzas)

 

Biggest Sale: TOORAK, 3 Torresdale Ct
Justin Long (Marshall White); After Auction, Bought range: $3,164,700 - $3,481,500 - 2 Bidders

"An avenue of Manchurian pears provided a picturesque setting for this auction and some welcome shade for the onlookers. The gleam of Justin Long's gavel and his energetic preamble added some sparkle to the event, and enticed a genuine bid of $3,000,000. A second bidder lifted the figure to $3,270,000 before proceedings stalled. The property was subsequently passed in to the initial bidder for this amount. Bought after for an undisclosed amount." (Doug Paget)

 

Biggest Pass In: SOUTH YARRA, 9 Tivoli Rd
Mark Wridgway (RT Edgar); Passed In: $3,310,000 - 3 Bidders

"An opening genuine bid of $2,500,000 was politely declined by auctioneer Mark Wridgway. This prompted him to submit a vendor bid of $3,200,000 before calling for more crowd action. Bathed in sunlight, Mr Wridgway enticed only a trickle of bids to increase the price to $3,310,000. Not enough to place the property on the market, so it was duly passed in for this figure." (Doug Paget)
$1M+ stonnington Featured Auctions
664
/1000
JAMES HOME RATINGS
ARMADALE: 14 Myamyn St
14 Myamyn Street
BOUGHT RANGE*: $4,315,500 - $4,747,500
No report
UNDISCLOSED
JAMES HOME RATINGS
MALVERN: 25 Finlayson St
25 Finlayson Street
PASSED IN: $2,290,000
602
/1000
JAMES HOME RATINGS
MALVERN: 210 Wattletree Rd
210 Wattletree Road
BOUGHT*: Undisclosed
UNDISCLOSED
JAMES HOME RATINGS
SOUTH YARRA: 30 Surrey Rd
30 Surrey Road
BOUGHT: $1,956,000
707
/1000
JAMES HOME RATINGS
SOUTH YARRA: 9 Tivoli Rd
9 Tivoli Road
PASSED IN: $3,310,000
UNDISCLOSED
JAMES HOME RATINGS
TOORAK: 3 Torresdale Ct
3 Torresdale Court
BOUGHT RANGE*: $3,164,700 - $3,481,500
Stonnington Weekly
stonnington Scheduled Auctions
GLEN IRIS
188 Tooronga Road, GLEN IRIS
Bought undisclosed
188 TOORONGA ROAD
MALVERN
25 Finlayson Street, MALVERN
Bought undisclosed
25 FINLAYSON STREET
TOORAK
5A Winifred Crescent, TOORAK
Bought undisclosed
5A WINIFRED CRESCENT
MALVERN EAST
22 Wilmot Street, MALVERN EAST
Bought $1,125,000
22 WILMOT STREET
ADDRESSRESULTPRICEIMPROVED $/SQMBOUGHT
ARMADALE
14 Myamyn StreetBoughtR: $4,315,500 - $4,747,500$4,650 - $5,1162012-12-01
GLEN IRIS
21 Glenvale RoadNot Reported
188 Tooronga RoadBoughtR: $835,289 - $918,905$1,500 - $1,6502012-12-01
7 Dorrington AvenueBoughtR: $2,378,320 - $2,616,400$2,318 - $2,5502012-12-01
172 Finch StreetPassed InPI: $1,450,000$2,318 - $2,5502012-12-01
MALVERN
32 Finlayson StreetBought$1,255,000$1,7172012-12-01
25 Finlayson StreetPassed InPI: $2,290,000$1,7172012-12-01
210 Wattletree RoadBoughtUndisclosed2012-12-01
MALVERN EAST
4 Lang CourtBought$1,052,500$1,7902012-12-01
17 Hyslop ParadePassed InPI: $1,450,000$1,7902012-12-01
46 Burke RoadPassed InPI: $1,000,000
131 Darling RoadPassed InPI: $1,200,000
7 Gauntlet RoadBoughtUndisclosed2012-12-01
22 Wilmot StreetBought$1,125,000$1,5982012-12-01
PRAHRAN
37 Mackay StreetBoughtR: $1,310,953 - $1,442,185$4,122 - $4,5352012-12-01
4 Francis StreetBought$1,170,000$5,4932012-12-01
73 Albert StreetBought$930,000$2,6572012-12-01
SOUTH YARRA
19 Lara StreetBought$1,242,000$4,8522012-12-01
9 Tivoli RoadPassed InPI: $3,310,000
18 Cromwell CrescentBought$1,775,000$5,4782012-12-01
2/1 Walsh StreetBoughtR: $902,419 - $992,755$633 - $6972012-12-01
30 Surrey RoadBought$1,956,000$6,3922012-12-01
TOORAK
4/7 Verdant AvenueBoughtBought (2012-12-18) - R: $1,083,670 - $1,192,150$1,190 - $1,3092012-12-18
3 Torresdale CourtBoughtR: $3,164,700 - $3,481,500$3,772 - $4,1502012-12-01
9 Ashe GroveBoughtUndisclosed2012-12-01
5A Winifred CrescentBoughtUndisclosed2012-12-01
stonnington Private Sales
PRAHRAN
21 Lorne Road, PRAHRAN
Bought: undisclosed
21 LORNE ROAD
ADDRESSBOUGHT PRICEIMPROVED $/SQM
PRAHRAN21 Lorne RoadRange: $1,778,945 - $1,957,025$6,331 - $6,965
SOUTH YARRA, 9 Tivoli Rd
SOUTH YARRA, 9 Tivoli Rd | Mark Wridgway (RT Edgar)
Passed In: $3,310,000 - 3 Bidders (Photo: Doug Paget)

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