oc | Monday 9th December

Boroondara



Boroondara Weekly

With Christmas in everyone’s sights, the next four to five weeks is likely to be interesting. Will the year finish off as strongly as it did last year? Only time will tell.

In terms of new properties coming on to the internet, we really only have two weeks left. Although I suspect that we’ll still be seeing a fair few ‘quieter’ listings going to market without advertising or fanfare. That makes it increasingly important to be ‘on the ground’, and to be talking to agents regularly.

Some buyers I have been talking to are desperate to buy right now, fearing they will miss out otherwise. As we always say, the best time to buy is when you are ready to do so and when the right comes along.

This means a property on a good street and with good . I have seen a lot of buyers recently (not our clients) decide to buy an average property on a cut-through street just because the price is attractive. They then spend hundreds of thousands of dollars renovating. Of course the renovation costs are the same, but you can’t change the position.

The $3m plus market

Quite a lot of properties have been coming up for sale at this price point – certainly a lot more than we’ve seen in recent years.

We have been through most of the publicly marketed ones, and also a few off-markets as well. With good recent results, vendors no doubt are feeling a lot more confident about selling, on the assumption that the buyers are out there.

One that sold this week was 8 Muir Street , for an undisclosed price over $3,200,000. Sam Wilkinson () was the agent, and the campaign was run in conjunction with Dale Edgcumbe, (). Sam also has a good off-market period family home in Camberwell on generous land with a pool, being quoted at over the $3.5m mark.

Again, as the school year ends, the market in is starting to fire up. There are a number of quality offerings out there – and what a beautiful part of Melbourne it is!

Two quality properties of interest well worth a look are:

5a Macartney Avenue, Kew (Campbell Ward/Chloe Quinn ). This has been thoughtfully renovated, has a prized north facing rear, and is in an excellent ‘Sackville Ward’ location.

31 Holroyd Street, Kew (Désirée Wakim/, ). This is a 1950s ‘trophy’ home, in a wonderful Studley Park location.

Helping this $3m market too is the good amount of ‘downsizer’ properties coming on the market.

What is a good ‘downsizer’ property?

  1. On a fairly level block and designed over a single level – Steps can limit access for older buyers.
  2. Low-maintenance – As we get older the idea of maintaining a period home becomes daunting and can be dangerous if doing the work yourself.
  3. Safe and secure – Double car garages are a huge plus and are often high up the priority list for downsizers (often at the expense of tricky floorplan). The minimum width for a double car garage is six metres, and for a single car garage is four metres. Often three metres is given, but I find this a bit tight.

Architecturally Speaking

The subject of pending planning changes is very topical on the streets right now. This could have a very big impact on the market. In a nutshell, it means less scope for development in neighbourhood areas (i.e. less subdivisions and units), which is the majority of .

One area in which development will be encouraged is along Riversdale Road. It will be interesting to see how the market responds. Will developers compete harder for these properties or will they change their business model from new builds into renovations to existing homes?

I personally think there is big market for this – but the designs need to be smart ones NOT cheap ones.

Properties with existing permits could really have some significant now, and home buyers should really do their homework, as this will affect buyers’ thoughts on .

For more information, visit the following link – http://boroondara.characterstudy.com.au/newzones.html

Design Smart (and buy well)

Architect Adam

GLEN IRIS, 9 Goodwin St
GLEN IRIS, 9 Goodwin St | Damien Davis (Jellis Craig)
Under Hammer: $1,660,000 - 4 Bidders (Photo: Nicole Brooks)
Bidderbuzz Auction
"Opening with a vendor bid of $1,350,000, auctioneer Damien Davis asked for a $20,000 rise as he looked across the crowd of 80. Bidder 1 made his move reasonably quickly, as did Bidder 2. Retiring to seek instructions from his vendors at $1,430,000, Mr Davis returned to re-open the bidding. So far, the bidding had been a little restrained, but that was about to change. Bidder 3 raised the bid by another $10,000 but the first two bidders took it in their stride. They battled through to $1,500,000 where Mr Davis announced that the home was on the market. A new bidder came forward, offering another $5,000. This encouraged another bout of strong, fast bidding. Using a number of knock-out bids to shake off the competition, Bidder 4 finally came out victorious, buying under the hammer for $1,660,000. There was a great buzz in the air as the spectators dispersed, with much talk about the exciting tussle and thrilling outcome." (Nicole Brooks)

 

Biggest Sale: KEW, 50 Fellows St
Steven Abbott (Jellis Craig); After Auction, $4,100,000 - 0 Bidders

"A touch of Paris in the springtime in Kew as the sun peeped out for this late afternoon auction. Auctioneer Steve Abbott made mention of the builder’s attention to detail as they travelled to France to learn the finer points in executing such a home. The mood felt very similar to the auction at 23 Rockingham Street, Kew last week. Majestic home, top address and a large crowd gathered in anticipation, yet a vendor bid of $3,900,000 then two more to round up to $4,000,000 is all they got to see here. An anticlimactic au revoir for the crowd of 100 and everyone quickly disappeared. There is a twist in the tale though. News arrived shortly after that the home had sold in post-auction negotiations." (Randall Smith)

 

Biggest Pass In: CANTERBURY, 27 Faversham Rd
James Tostevin (Marshall White); Passed In: $3,600,000 - 0 Bidders

"This property was so big that it felt like you were transported to your own world, such was the tranquility when standing in the backyard. And fittingly so, auctioneer James Tostevin held the auction on the tennis court. Unfortunately for this auction it was a little too quiet with the crowd of 50 being unswayed by Mr Tostevin's attempts to get them to bid. The property started and finished on the one vendor bid of $3,600,000 – quite a shame to see the lack of interest." (Joshua Bong)
$1M+ boroondara Featured Auctions
718
/1000
JAMES HOME RATINGS
BALWYN: 12 Monash Av
12 Monash Avenue
BOUGHT RANGE*: $3,126,340 - $3,439,300
No report
UNDISCLOSED
JAMES HOME RATINGS
CAMBERWELL: 2 Alma Rd
2 Alma Road
BOUGHT: $2,580,000
749
/1000
JAMES HOME RATINGS
CAMBERWELL: 13 Fermanagh Rd
13 Fermanagh Road
BOUGHT RANGE*: $2,936,938 - $3,230,938
UNDISCLOSED
JAMES HOME RATINGS
CANTERBURY: 27 Faversham Rd
27 Faversham Road
PASSED IN: $3,600,000
673
/1000
JAMES HOME RATINGS
CANTERBURY: 22 Mangarra Rd
22 Mangarra Road
PASSED IN: $2,710,000
UNDISCLOSED
JAMES HOME RATINGS
CANTERBURY: 13 Mont Albert Rd
13 Mont Albert Road
BOUGHT: $2,000,000
760
/1000
JAMES HOME RATINGS
GLEN IRIS: 9 Goodwin St
9 Goodwin Street
BOUGHT: $1,660,000
UNDISCLOSED
JAMES HOME RATINGS
HAWTHORN: 27 Glenroy Rd
27 Glenroy Road
PASSED IN: $2,750,000
645
/1000
JAMES HOME RATINGS
HAWTHORN: 1 Malmsbury St
1 Malmsbury Street
PASSED IN: $1,410,000
653
/1000
JAMES HOME RATINGS
HAWTHORN EAST: 8 Hastings Rd
8 Hastings Road
PASSED IN: $1,930,000
UNDISCLOSED
JAMES HOME RATINGS
KEW: 50 Fellows St
50 Fellows Street
BOUGHT: $4,100,000
584
/1000
JAMES HOME RATINGS
KEW: 2a McEvoy St
2a McEvoy Street
PASSED IN: $2,050,000
UNDISCLOSED
JAMES HOME RATINGS
SURREY HILLS: 208 Union Rd
208 Union Road
PASSED IN: $2,250,000
Stonnington Weekly
boroondara Scheduled Auctions
KEW
281 Barkers Road, KEW
Bought undisclosed
281 BARKERS ROAD
BALWYN
5 Carronshore Close, BALWYN
Bought undisclosed
5 CARRONSHORE CLOSE
SURREY HILLS
8A Scheele Street, SURREY HILLS
Bought undisclosed
8A SCHEELE STREET
CAMBERWELL
2 Alma Road, CAMBERWELL
Bought $2,580,000
2 ALMA ROAD
ADDRESSRESULTPRICEIMPROVED $/SQMBOUGHT
BALWYN
12 Monash AvenueBoughtR: $3,126,340 - $3,439,300$4,737 - $5,2112013-11-16
2 Para StreetPassed InPI: $2,000,000
9 Reid StreetBoughtR: $2,162,545 - $2,379,025$2,325 - $2,5582013-11-16
1 Yonga RoadBought$1,506,000$2,1122013-11-16
5 Carronshore CloseBoughtR: $1,635,095 - $1,798,775$2,672 - $2,9392013-11-16
5 Hardwicke StreetBought$1,370,000$1,6932013-11-16
3 Prowse AvenueBought$1,960,000$2,8782013-11-16
BALWYN NORTH
121 Doncaster RoadBoughtBought (2013-11-23) - $1,900,000$2,8532013-11-23
4 Buchanan AvenueBoughtR: $1,184,365 - $1,302,925$1,762 - $1,9392013-11-16
9 Landen AvenuePassed InPI: $1,570,000
7 Gould StreetBought$1,457,000$1,8682013-11-16
CAMBERWELL
1/54 Through RoadNot Reported
6 Seymour GroveBought$1,740,000$3,6172013-10-31
2 Alma RoadBought$2,580,000$4,2092013-11-16
13 Fermanagh RoadBoughtR: $2,936,938 - $3,230,938$3,235 - $3,5582013-11-16
19 Halley AvenueBought$1,519,000$1,9332013-11-16
107 Through RoadPassed InPI: $1,500,000$1,9332013-11-16
140 Fordham AvenueBought$1,775,000$2,4052013-11-16
1/211 Highfield RoadNot Reported
54 Glencairn AvenueBoughtR: $1,639,890 - $1,804,050$2,086 - $2,2952013-11-16
CANTERBURY
13 Mont Albert RoadBought$2,000,000$2,9722013-11-16
27 Faversham RoadPassed InPI: $3,600,000
22 Mangarra RoadBought$2,830,000$3,7292013-11-16
DEEPDENE
5 Oakdale AvenueNot Reported
GLEN IRIS
1 Vale StreetPassed InPI: $1,351,000
64 Celia StreetBoughtR: $1,198,750 - $1,318,750$1,844 - $2,0292013-11-16
1 Staughton RoadBoughtR: $1,783,740 - $1,962,300$1,933 - $2,1262013-11-16
9 Goodwin StreetBought$1,660,000$2,6022013-11-16
19 Vale StreetBought$1,340,000$1,6732013-11-16
28 Dillon GroveBought$1,350,000$1,8912013-11-16
10 Walerna RoadNot Reported
25 Albion RoadBoughtR: $1,319,584 - $1,451,680$2,167 - $2,3842013-11-16
HAWTHORN
1 Malmsbury StreetPassed InPI: $1,410,000$2,167 - $2,3842013-11-16
27 Glenroy RoadPassed InPI: $2,750,000
16 Falmouth StreetBought$1,221,000$3,7002013-11-16
99a Manningtree RoadBoughtR: $920,640 - $1,012,800$3,186 - $3,5042013-11-16
3/1A Kooyongkoot RoadBought$1,310,000$3,6902013-11-16
HAWTHORN EAST
8 Hastings RoadPassed InPI: $1,930,000$3,6902013-11-16
62 Leura GroveBought$1,750,000$2,5002013-11-16
16 Cowper StreetBought$1,286,000$3,2152013-11-16
58 Auburn ParadeNot Reported
2/2 Hastings RoadBought$1,655,000$6,9252013-11-16
KEW
50 Fellows StreetBought$4,100,000$5,4092013-11-16
2a McEvoy StreetPassed InPI: $2,050,000$5,4092013-11-16
4 Wiltshire DrivePassed InPI: $1,450,000
71 Tennyson StreetBoughtR: $1,414,525 - $1,556,125$2,267 - $2,4942013-11-14
1 Findon CrescentBought$2,100,000$2,7342013-11-16
19 Banool AvenueBoughtR: $1,559,334 - $1,715,430$2,851 - $3,1362013-11-16
281 Barkers RoadBoughtR: $1,774,150 - $1,951,750$1,952 - $2,1472013-11-16
KEW EAST
1/1 Arden CourtNot Reported
MONT ALBERT
4 Wilson StreetBought$1,038,000$1,6352013-11-16
MONT ALBERT NORTH
16 Hawkins AvenueBoughtR: $1,918,000 - $2,110,000$2,988 - $3,2872013-11-15
SURREY HILLS
208 Union RoadPassed InPI: $2,250,000
93 Middlesex RoadBought$1,509,000$2,0992013-11-16
8A Scheele StreetBoughtR: $1,443,295 - $1,587,775$3,749 - $4,1242013-11-16
1 Payne StreetBought$1,535,000$1,5742013-11-16
boroondara Private Sales
HAWTHORN
8 Muir Street, HAWTHORN
Bought: undisclosed
8 MUIR STREET
BALWYN NORTH
7 Corona Street, BALWYN NORTH
Bought: undisclosed
7 CORONA STREET
BALWYN NORTH
24 Madden Street, BALWYN NORTH
Bought: $1,500,888
24 MADDEN STREET
KEW
48 Molesworth Street, KEW
Bought: undisclosed
48 MOLESWORTH STREET
ADDRESSBOUGHT PRICEIMPROVED $/SQM
BALWYN3 Aif StreetRange: $3,222,240 - $3,544,800$4,494 - $4,944
BALWYN NORTH7 Corona StreetRange: $1,663,865 - $1,830,425$2,007 - $2,208
24 Madden Street$1,500,888$1,416
HAWTHORN8 Muir StreetRange: $3,116,750 - $3,428,750$7,891 - $8,680
KEW48 Molesworth StreetRange: $3,116,750 - $3,428,750$3,233 - $3,557
CAMBERWELL, 13 Fermanagh Rd
CAMBERWELL, 13 Fermanagh Rd | James Tostevin (Marshall White)
After Auction: Bought range: $2,936,938 - $3,230,938 - 3 Bidders (Photo: Nicole Brooks)

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