oc | Monday 20th January

Stonnington



Stonnington Weekly

Stonnington Snapshot

This week our enquiry has predominantly been in the up to mid $1 million range – and what a competitive segment this is, in all parts of Stonnington! We bought a single-fronter in East at a Boardroom auction on Wednesday (with three active bidders) that had been scheduled for auction on Saturday ( and Justin Krongold, Marshall White).

Buyers looking to downsize into single fronted homes, , or just wanting to get into the market, are looking at properties at up to $1.5 million. While there is of style, not all properties offer the same in terms of needs. After weighing up your physical needs against your financial position, emotional needs can often cause a rethink of financial limits. What lifestyle options can you get for properties quoted at low $1 million? And how much more do you get from pushing yourself and going up into the next price bracket by $100,000 – $200,000? Position is, as ever, important.

One such suburb offering choice in this price bracket is Windsor – a shy part of the Prahran/South Yarra region. Its mostly brick are within walking distance of Chapel Street shops, train and tramlines and schools. Its proximity to the city and is also appealing. I was speaking with Michael Armstrong of Kay & Burton during the week and he said that this is a tightly-held pocket with mostly family owners having settled there over 40 years ago and reluctant to sell. When these homes do come up, there is often strong interest from professional couples.

A good example is 34 Raleigh Street, Windsor; a double-fronted on a bit over 600 square metres. It was quoted at $1,350,000 plus and did indeed open at this level but seven bidders took it to a final price of $1,610,000 (Michael Armstrong, Kay & Burton).

Buyer Brief – a few Off-markets

Off-market in is a 4 bedroom renovated Californian Bungalow with pool. The asking price is $1.5m, Adam Cashmore, Jellis CraigBennisonMackinnon

Off-Market in South Yarra is a renovated 3 bed, 2 bath town residence with garage, with an asking price of $1.4m, Mark Williams, Kay & Burton

Off-market in Toorak is a 10 year old contemporary home on 745 sqm. The ask is the high $4 millions, Michael Armstrong, Kay & Burton

Just Quietly

A solid brick 1920s residence at 20 Montalto Avenue, Toorak 792 sqm sold earlier in the week for in excess of $4,000,000 (, Marshall White). It last sold in 2010 after passing in on a vendor bid of $3,800,000 with a different agency.

 

SOUTH YARRA, 55 Tivoli Rd
SOUTH YARRA, 55 Tivoli Rd | Gowan Stubbings (Kay & Burton)
Under Hammer: $2,900,000 - 4 Bidders (Photo: David Adamowicz)
Bidderbuzz Auction
"Halfway up the hill on Tivoli Road this well located three level townhouse had attracted 50 at the start, and by the end that figure had bulged to 80. The spectators were rewarded with a good auction. After auctioneer Gowan Stubbings placed an opening vendor bid of $2,500,000, the stage was set for willing bidding in $25,000 and $50,000 steps, with four bidders tagging in and out. From $2,800,000 two bidders quickly traded $10,000 bids to $2,880,000 at which point one of them asked the usual question, "is it on the market?". A quick step behind the front gate and a mystery voice told Mr Stubbings that the home was indeed on the market. Within a few minutes it was bought for $2,900,000. " (David Adamowicz)

 

Biggest Sale: TOORAK, 217 Kooyong Rd
John Bongiorno (Marshall White); Under Hammer, $3,865,000 - 3 Bidders

"If auctions were movies, this would've been one of those slow-burn thrillers with a nail-biting finish! Stars of the show today were auctioneer John Bongiorno and bidders one, two and three who all provided the crowd with a massive 50 solid minutes of tense late afternoon entertainment. Mr Bongiorno wasted no time in starting the show with a $3,000,000 vendor bid, and his words of encouragement galvanised Bidder 1 to up it by $50,000. Bidder 2, not to be left behind, increased it by $50,000. However, Bidder 1 was like a brick wall, and was coming back with instant raises - a very strong show of control here. This progressed up to $3,535,000 at which both parties started to ask if the property is on the market. A quick half-time break and Mr Bongiorno emerged to indicate in the negative, however his easy style started the ball rolling again and this is when Bidder 3 chimed in at the $3,580,000 mark. Bidders 1 and 2 were not finished yet though, and some really drawn out bidding at $10,000 increments took the price to the $3,830,000 mark, at which Bidder 2 makes the gutsy request for a phone break! Mr Bongiorno, graciously allowed the call and explained that he must do all he could to give bidders the opportunities they needed. This was fair enough, and Mr Bongiorno handled the break in classic fashion with a run down of the Marshall White auctions for the day. Finally, Bidder 2 returned and threw another $10,000 into the mix, but Bidder 1 came straight back - although it was plain he was feeling the pressure here (as was his partner, literally biting her nails!). $5,000 bids saw us up to $3,865,000 between Bidders 1 and 2, and finally the home was knocked down to Bidder 1 drawing considerable applause from the crowd. Everyone let out a sigh of relief and there were smiles all round. A monolithic auction report for a monolithic auction!" (Adam Gardner)

 

Biggest Pass In: MALVERN, 25 Wilks Av
Jeremy Fox (RT Edgar); Passed In: $2,700,000 - 0 Bidders

"Jeremy Fox and his team stood proudly in front of number 25 Wilks Avenue, Malvern this morning and, after putting a focus on the location and other houses sold recently, Mr Fox made mention that "It's been quoted at $3,000,000 plus". Mr Fox asked the crowd of 25 for an opening bid of $2,700,00, but with no crowd members responding to this request he was forced to open proceedings himself with a vendor bid for this amount. This still did not produce any response from the crowd so Mr Fox and his team went inside for a half-time break. Upon their return, Mr Fox searched desperately for any interest from the crowd but unfortunately there was none in sight and Mr Fox passed the property in on his original vendor bid. " (Nicole Clarke)
$1M+ stonnington Featured Auctions
588
/1000
JAMES HOME RATINGS
ARMADALE: 4/24 Mercer Rd
4/24 Mercer Road
BOUGHT*: Undisclosed
691
/1000
JAMES HOME RATINGS
ARMADALE: 17 Moorhouse St
17 Moorhouse Street
BOUGHT: $2,530,000
748
/1000
JAMES HOME RATINGS
MALVERN: 71 Stanhope St
71 Stanhope Street
BOUGHT*: Undisclosed
UNDISCLOSED
JAMES HOME RATINGS
MALVERN: 25 Wilks Av
25 Wilks Avenue
PASSED IN: $2,700,000
717
/1000
JAMES HOME RATINGS
MALVERN EAST: 38 Repton Rd
38 Repton Road
BOUGHT*: Undisclosed
No report
UNDISCLOSED
JAMES HOME RATINGS
PRAHRAN: 5 Wynnstay Rd
5 Wynnstay Road
BOUGHT RANGE*: $3,116,750 - $3,428,750
UNDISCLOSED
JAMES HOME RATINGS
SOUTH YARRA: 55 Tivoli Rd
55 Tivoli Road
BOUGHT: $2,900,000
UNDISCLOSED
JAMES HOME RATINGS
TOORAK: 4 Cleeve Ct
4 Cleeve Court
PASSED IN: $2,100,000
UNDISCLOSED
JAMES HOME RATINGS
TOORAK: 217 Kooyong Rd
217 Kooyong Road
BOUGHT: $3,865,000
Stonnington Weekly
stonnington Scheduled Auctions
ARMADALE
17 Moorhouse Street, ARMADALE
Bought $2,530,000
17 MOORHOUSE STREET
SOUTH YARRA
55 Tivoli Road, SOUTH YARRA
Bought $2,900,000
55 TIVOLI ROAD
ARMADALE
15 Cambridge Street, ARMADALE
Bought undisclosed
15 CAMBRIDGE STREET
SOUTH YARRA
55 Airlie Street, SOUTH YARRA
Not Reported
55 AIRLIE STREET
ADDRESSRESULTPRICEIMPROVED $/SQMBOUGHT
ARMADALE
57 Armadale StreetBoughtR: $1,927,590 - $2,120,550$3,991 - $4,3902013-08-17
4/24 Mercer RoadBoughtUndisclosed2013-08-17
17 Moorhouse StreetBought$2,530,000$4,4782013-08-17
15 Cambridge StreetBoughtR: $1,031,884 - $1,135,180$4,914 - $5,4062013-08-17
37 Stuart StreetBought$1,361,000$3,6782013-08-17
MALVERN
25 Wilks AvenuePassed InPI: $2,700,000
71 Stanhope StreetBoughtUndisclosed2013-08-17
MALVERN EAST
38 Repton RoadBoughtUndisclosed2013-08-17
PRAHRAN
5 Wynnstay RoadBoughtR: $3,116,750 - $3,428,750$2,836 - $3,1202013-08-17
SOUTH YARRA
55 Tivoli RoadBought$2,900,000$12,7192013-08-17
55 Airlie StreetNot Reported
TOORAK
4 Cleeve CourtPassed InPI: $2,100,000
1 May RoadBoughtUndisclosed2013-08-17
217 Kooyong RoadBought$3,865,000$3,9162013-08-17
stonnington Private Sales
TOORAK
32 Canberra Road, TOORAK
Bought: undisclosed
32 CANBERRA ROAD
ADDRESSBOUGHT PRICEIMPROVED $/SQM
TOORAK32 Canberra RoadUndisclosed
ARMADALE, 17 Moorhouse St
ARMADALE, 17 Moorhouse St | Gowan Stubbings (Kay & Burton)
Under Hammer: $2,530,000 - 3 Bidders (Photo: David Adamowicz)

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