oc | Sunday 8th December

Still good!

Focus, focus, focus - breathe, breathe and ponder. Nick Johnstone has 3 bidders thinking as 24 Laburnum Brighton is bought for 2,120,000

Focus, focus, focus – breathe, breathe and ponder. Nick Johnstone has 3 bidders thinking as 24 Laburnum, Brighton is bought for $2,120,000.

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It’s week 2 of our 3 week (Feb 20 +27 and Mar 5) 100 auction reporting marathon.

Today was down on last week’s unbridled enthusiasm.

However we did see a market that continued to show its depth and strength on the right homes. Just like late last year, today also had a clear dichotomy of interest between the A graders v C graders.

Today had an influx of higher dollar value homes into the market – eg $3m-plus. We saw more pass-ins, more duck auctions and less volcanoes. That’s not unusual, as the higher end almost always has fewer bidders than the lower end of the $M-plus market.

Graphing bidder numbers was a bit like playing Space Invaders (I loved that game) up, down, up, down, up, down. 5 bidder volcano here, 0 bidder duck there, 4 bidders over there, 1 bidder lone ranger here and so on. Today was the graph of a strong market with the usual cracks.

The higher end auction market today would be considered strong.

So last week we had WOW, I can’t believe it’s that strong. This week we also had a shiny market, but with a bit more sheen loss.

Factually at 6.00pm, we had a still strong 2.3 Bidderman and 75% Clearance on bigger stock numbers on the 36 auctions we covered.

Hey, I’m not trying to talk the market up. We’ve had (26/30 and 27/36) bought in the last two weeks before 6.00pm – we only need 17/34 next week for the market to meet our definition of strong. Bidderman really needs to go below 2 consistently, before we would say the market is slipping and it’s consistently above. Volcanoes still represented around 1 in 3 of the 36 auctions we covered.

There were increased numbers of properties bought before auction – at this stage we think that is inconsequential, but worth noting.

This week we felt price was not racing ahead, unlike this time last year – but none of us saw any signs of an ease back in dollars offered for the A-graders and there were still some powerful land sales behind the scenes.

The news this week from Sixty Minutes and the ensuing media headlines, while perfectly fair and reasonable in a democracy; has applied a kick to the guts on the discretionary part of “how much more over and above” for now – you could see it in buyers’ behaviour this week.

Mr Tepper has a position. We do as well, it’s just we don’t use his measurements and maybe we’re wrong. Our measurements are simple demand and supply.

For Inner Melbourne homes, demand is there and supply isn’t. If immigration stops and/or somebody works out how to make more Inner Melbourne land, or we cease to be a great city, then I’ll get worried. While debt, jobs, affordability are things to consider – so is scarcity, history and human needs/behaviour.

We agree there will be a fall and we agree it’s not if, but when. What we don’t agree on is magnitude and reasoning.

We’re not saying Mr Tepper is wrong or right, it’s just we have different positions.

Furthermore we can’t live our lives worrying if Mr Tepper is wrong or right.

If it happens, then Melburnians will deal with it, as we did in 2008. If Mr Tepper is not, then Melburnians will deal with it, as we have for 20 of the last 30 years.

However for now, on the streets Mr Tepper, it is not happening.

Mark Wridgway gets the job done with 3 bidders at 27 Stonnington Place, after auction over $4,620,000 or

Mark Wridgway gets the job done with 3 bidders at 27 Stonnington Place, after auction over $4,620,000 or $5,800 per sqm

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TOORAK, 27 Stonnington Place (RT Edgar) – After Auction (undisclosed price above $4,620,000), 3 Bidders.
Perseverance is the word to describe this auction.

CANTERBURY, 186 Prospect Hill Road – Under Hammer $4,050,000, 2 Bidders.
The auction was held in the tranquil and spacious backyard complete with a tennis court and the soothing sounds of water cascading into the luscious pool.

MALVERN EAST, 14 Kerferd Street (Marshall White) – Under Hammer $3,235,000, 4 Bidders.
Mark Twain’s quip about “talk of my demise is greatly exaggerated” might equally apply to the sale of this property today, as four bidders vie for the prize.

So you thought the market for good homes in Bayside was a bit lacklustre. Volcano - 6 bidders with Robin Parker on 67 Mills Hampton. Under the hammer for $2,790,000

So you thought the market for good homes in Bayside was a bit lacklustre. Volcano – 6 bidders with Robin Parker on 67 Mills, Hampton. Under the hammer for $2,790,000

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CAMBERWELL, 12 Westbourne Grove (Fletchers)  – Under Hammer $2,532,000, 8 Bidders.
A still, overcast morning and a crowd of 100 has gathered for this auction, and auctioneer, Tim Heavyside greets the gallery and begins.

HAMPTON, 67 Mills Street (Marshall White) – Under Hammer $2,790,000, 6 Bidders.
Robin Parker could easily sell out a venue at the Comedy Festival – and that is meant as a compliment.

HAWTHORN, 13 Morang Road (Marshall White) – Under Hammer $1,380,000, 6 Bidders.
There was most definitely a buzz in the air at Morang Road.

No action at 21 Knox Street Malvern East - passed in on a vendor bid

No action at 21 Knox Street Malvern East – passed in on a vendor bid

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CANTERBURY, 7 Alexandra Avenue – Passed In $5,350,000, 0 Bidders.
There was a big turn out to see what was on offer by the time auctioneer Doug McLauchlan welcomed the crowd.

MALVERN, 25 Mountview Road – Passed In $4,300,000, 0 Bidders.
Standing before the contemporary residence, auctioneer Jeremy Fox bids welcome to the gallery of 70 and begins the auction with, of course, the rules of the auction and a list of virtues of this property and its surrounds.

KEW, 10 Findon Crescent – Passed In $4,250,000, 1 Bidder.
The residence at 10 Findon Cresent, Kew was built c1930, and has a grand entrance with a terrazzo verandah beneath a circular portico with Grecian columns.

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Bayside (Full details in James Auction Reports click here)

BRIGHTON, 24 Laburnum Street (Nick Johnstone) – Under Hammer $2,120,000, 3 Bidders.
It’s quite a lovely auction here today and it leaves me feeling all warm and fuzzy

BRIGHTON EAST, 26 Charles Street (Marshall White) – Under Hammer $1,766,000, 3 Bidders.
Peter Kakos looked to be in his element as he entertained the crowd of 70 who had come to see who would be the new owners

BRIGHTON EAST, 26 Comer Street (RT Edgar) – After Auction $1,825,000, 0 Bidders.
It’s a pleasure to listen to Greg Costello this morning.

BRIGHTON EAST, 44 Binnie Street (Marshall White) – Passed In $2,450,000, 0 Bidders.
It’s all quiet today at Binnie Street, as the indefatigable Peter Kakos is offering up the home at number 44, to about that many onlookers!

HAMPTON, 49 Sargood Street (Hodges) – Under Hammer $1,490,000, 2 Bidders.
The audience trickled out from the home as the auction was about to get underway, looking pleased that the weather had decided to take a turn for the better

HAMPTON, 67 Mills Street (Marshall White) – Under Hammer $2,790,000, 6 Bidders.
Robin Parker could easily sell out a venue at the Comedy Festival – and that is meant as a compliment.

HAMPTON, 19 Karoola Street (Hodges) – Passed In $1,870,000, 1 Bidder.
The auction of this four-bedroom, two-bathroom architect renovation was a sedate affair.

SANDRINGHAM, 13 Bamfield Street (Buxton) – After Auction $1,550,000, 4 Bidders.
For me, today was to be dominated by period renovations and if this first one, a three-bedroom Edwardian was  a barometer, then the day promised to be eventful.

SANDRINGHAM, 26 Edward Street (Hodges) – Under Hammer $2,640,000, 4 Bidders.
Cars were parked nose to tail in the one-way street and up to 100 onlookers had crowded outside the Edwardian home

Volcano with Todd Braggins - good name for an auctioneer - at 4 Munro Ashburton. After Auction above $1,720,000

Volcano with Todd Braggins – good name for an auctioneer – at 4 Munro Ashburton. After Auction above $1,720,000

Boroondara (Full details in James Auction Reports click here)

ASHBURTON, 4 Munto Avenue (Marshall White) – Passed In $1,720,000, 4 Bidders.
The grey and dull sky was no deterrent for the crowd milling out the front of this property.

CAMBERWELL, 12 Westbourne Grove (Fletchers) – Under Hammer $2,532,000, 8 Bidders.
A still, overcast morning and a crowd of 100 has gathered for this auction, and auctioneer, Tim Heavyside greets the gallery and begins.

CAMBERWELL, 10 Amy Street (Marshall White) – After Auction (undisclosed price above $1,675,000), 2 Bidders.
A crowd of some 50 people – a few bringing along their deck chairs for the occasion – saw this auction start off with a opening bid of $1,400,000 …

CANTERBURY, 186 Prospect Hill Road – Under Hammer $4,050,000, 2 Bidders.
The auction was held in the tranquil and spacious backyard complete with a tennis court and the soothing sounds of water cascading into the luscious pool.

CANTERBURY, 7 Alexandra Avenue (Marshall White) – Passed In $5,350,000, 0 Bidders.
There was a big turn out to see what was on offer by the time auctioneer Doug McLauchlan welcomed the crowd.

HAWTHORN, 16 Elmie Street (Jellis Craig) – After Auction (undisclosed price above  $2,750,000), 2 Bidders.
Auctioneer Steven Abbott fronted the crowd of 70 who had squeezed themselves amongst the cars on Elmie Street.

HAWTHORN, 11 Malore Street (Kay & Burton) – Passed In $3,850,000, 2 Bidders.
“A once in a lifetime opportunity to own a landmark property with state heritage significance,”  claimed auctioneer Scott Patterson.

HAWTHORN, 13 Morang Road (Marshall White) – Under Hammer $1,380,000, 6 Bidders.
There was most definitely a buzz in the air at Morang Road.

HAWTHORN EAST, 63 Victoria Road (Jellis Craig) – Passed In $2,700,000, 0 Bidders.
Auctioneer Steve Abbott took to the crowd that had gathered and introduced the home on offer.

KEW, 14 Locksley Avenue (Jellis Craig) – Under Hammer $1,755,000, 3 Bidders.
Auctioneer Richard Earle was his usual chirpy self and the positive vibes he was giving translated into some spirited bidding by two bidders.

KEW, 10 Findon Crescent (Marshall White) – Passed In $4,250,000, 1 Bidder.
The residence at 10 Findon Cresent, Kew was built c1930, and has a grand entrance with a terrazzo verandah beneath a circular portico with Grecian columns.

KEW, 5 Tregarron Avenue (Marshall White) – Before Auction (price undisclosed above $5,000,000).

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Just a lazy 8 hey, Tim – Double Volcano – maybe that could be the new auctioneer’s drink of . I’ll have a Double Volcano to go, thx. 12 Westbourne, Camberwell – under hammer – $2,532,000 (pictured above and below).

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Port Phillip (Full details in James Auction Reports click here)

ELWOOD, 105 Tennyson Street (Chisholm & Gamon) – Passed In $1,285,000, 1 Bidder.
According to auctioneer Torsten Kasper, this property is full of possibilities – renovation, move-in, or start over.

MIDDLE PARK, 72 Harold Street (Cayzer) – Under Hammer $2,400,000, 4 Bidders.
This fine Saturday on one of the last days of summer saw a good crowd, I counted 70 people immediately prior to auction but the street seemed to keep filling with interested bodies!

MIDDLE PARK, 15 Park Road (Cayzer) – Passed In $2,700,000, 0 Bidders.
Neighbours littered the audience of this auction, watching on as auctioneer Simon Carruthers was presenting his case regarding the abundant positives of this property.

ST. KILDA, 9 Moodie Place (Biggin & Scott) – Under Hammer $1,171,000, 4 Bidders.|
There’s quite a small crowd for this auction this afternoon.

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Stonnington (Full details in James Auction Reports click here)

MALVERN, 25 Mountview Road (RT Edgar) – Passed In $4,300,000, 0 Bidders.
Standing before the contemporary residence, auctioneer Jeremy Fox bids welcome to the gallery of 70 and begins the auction with, of course, the rules of the auction and a list of virtues of this property and its surrounds.

MALVERN, 16 Alice Street (Jellis Craig) – Under Hammer $1,805,000, 5 Bidders.
Driving down the street proved very difficult this morning as a large crowd had assumed their positions in the street and were watching Auctioneer Lachie Fraser-Smith begin with the usual auction guidelines.

MALVERN EAST, 36 Moama Road (Marshall White) – Under Hammer $1,236,000,  3 Bidders.
A small crowd gathered as auctioneer Daniel Wheeler welcomed what was on offer.

MALVERN, 98 Claremont Avenue (Abercromby’s) – Passed In $1,750,000, 0 Bidders.
Set in a tree-lined street, this large solid brick home attracts a smallish crowd of 30.

MALVERN EAST, 14 Kerferd Street (Marshall White) – Under Hammer $3,235,000, 4 Bidders.
Mark Twain’s quip about “talk of my demise is greatly exaggerated” might equally apply to the sale of this property today, as four bidders vie for the prize.

MALVERN EAST, 57 Manning Road (Jellis Craig) –  After Auction $3,150,000, 0 Bidders.
Auctioneer Iain Carmichael holds today’s auction in the rear courtyard of this renovated and extended family period home.

MALVERN EAST, 21 Knox Street (Marshall White) – Passed In $2,500,000, 0 Bidders.
Afternoon sunshine encourages a good turnout of 60. On offer is a 4-bedroom with pool and a wine cellar, set in a quiet cul-de-sac.

SOUTH YARRA, 41 Hardy Street (Marshall White) – Bought After (undisclosed price above $1,310,000), 2 Bidders.
Despite a grey, overcast sky and the early morning hour, a good crowd of some 70 turn up to see the auction of this renovated 2-Bedroom Victorian.

TOORAK, 22 Heyington Place (Marshall White) – Bought Before (undisclosed price above $5,000,000).

TOORAK, 3 Nola Court (Marshall White) – Before Auction (result undisclosed).

TOORAK, 27 Stonnington Place (RT Edgar) – After Auction (undisclosed price above $4,620,000), 3 Bidders.
Perseverance is the word to describe this auction.

He's becoming a bit of a feature in Marketnews is the young, actually not so young Mr Augustini. Volcano under the hammer at 26 Edward Sandringham - $2,640,000

Becoming a bit of a feature in Market News is the young, actually, not so young, Mr Augustini. Volcano under the hammer at 26 Edward, Sandringham – $2,640,000.

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Part of the James Buyer Advocacy Service is our Architect Advisory where clients have access to a wide panel of Melbourne’s leading architects – at no extra cost for initial roughs. Here is the work of Richard Blight of Blight, Blight & Blight Architecture – his thoughts on 473 Tooronga Road, Hawthorn East and how you can maximise the living spaces – should you choose not to take one of the advertised alternatives of bulldozing. The home is for sale with Richard Earle and Lloyd Lawton of Jellis Craig and goes to auction next weekend.

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Another part of James Buyer Advocacy Service is our Selling Agent Selection Service. It is for our buying clients who need some professional advice about the right agent to sell with, before or after they’ve bought. The service is no extra charge to you. In circumstances where we are paid a fee, it is deducted from the selling agents commission.

Below is what you see on the Selling Agent boards, so as there is full transparency.

No ratings go up publicly on our website for any homes where we have assisted in appointing an agent. Any buyer we are acting for is made aware we have assisted in appointing the agent. If we proceed to act for the buyer, we are only paid by the buyer; which the seller agrees to and understands prior to us assisting.

Note of Perspective: It has happened only three times in 1000+ buys where we acted for both the buyer and the seller on the same home (but of course, NOT in the same transaction – separate times and separate transactions) – it is not common – but it is important to know we have transparent procedures to deal with it should it arise. We proceeded on all three deals with happiness on all sides.

For the Record: Agents from selling agencies Abercromby’s, Hocking Stuart, Kay & Burton, Buxton, Jellis Craig and Marshall White have been appointed in the last dozen or so appointments.

James Agent Selection

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Our research is showing that not all buyers know what goes into various levels of buyer advocacy services offered at James Buyers Agents and Advocates. We list them below.

Our research also shows that a number of buyers have little understanding of fees. Our fees are fully transparent and we list our fees below.

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Some additional James Buyers Agents and Advocates Facts:

  • Many of our extra services are completely Free – example, our Agent Select Service and Architect Initial Design Services are at No Extra Charge for our clients.
  • Our most common service is Negotiation Only, eg Bidding this weekend and our fee is less than 1%+GST (less than one bid, less than one mistake). No success – no charge.
  • Our premium service offering – James Home Search – includes over 150 different tasks – many repeated on every search – safety checks, off-markets, risk factors. See above.
  • James Review where we review DIY “wheeler and dealers” who want to do it themselves this time; but want professional back up – a second opinion.
  • Due to repeated requests we are now trialing DIY Younger. We offer a scaled down Buyer Advocacy option for guiding younger people to purchase good under $1 million homes. Please note, we can only take on 14 younger clients at any one time and you may have to go on our waiting list.
  • And finally, yes we do save money – big money and many, many times more than you may think. This is not the forum to be specific – let us show you at a private meeting. Most people engage us to secure and save – we really do. Ask some of the 1050+ we’ve bought for.
    See our reference page click here
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    See our homes we’ve bought page click here
  • And speaking of private meetings, let’s also talk about off-markets, private deals, confidentiality and the benefits we provide with discretion. James Buyer Advocates has a reputation for transparency (James Market News and Auction Reports); but we also have a reputation for complete confidentiality (not one client name has appeared in the press through us, not one off-market address has appeared on our website – ever).

Some More James Buyers Agents and Advocates Facts (Timing, Quoting and Competitors)

  • Time taken to secure a home is a lot less, than if you are doing it yourself – see our results we released last year. Click on Confidential Picture Below for full results and that was in the toughest of tough months for buyers – May 2015.

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We buy up to 100 homes a year, and as we said, over 1050 clients have successfully used our services. 2016 has started strongly for the market and for us. If the market goes up, then we will help buyers secure. If the market goes down price bargains will come, if you know where to look. There is always work for our team of 7 front line professionals, backed up by our research staff; but there is also always room for another good client.

Whether you are buying, selling or managing your assets, we cover the full circle of property from a buyers perspective.

It starts with a no obligation, 45 minute meeting on the phone, at you place, in our office, at a coffee shop, around the corner from an OFI – whatever suits.

Ring 9804 3133. Albert Park, Brighton, Toorak and Hawthorn.

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