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Are we all feeling better now?

12 Royal Crescent Armadale. John Bongiorno. $3,480,000 3 Bidders

The market is feeling better about banks, tax and interest rates. What that means is an increase in auctions like 12 Royal Crescent, Armadale. John Bongiorno. $3,480,000 under the hammer, 3 Bidders.

Marketinaminute

Bidderman2

At 6.00 pm in our second week of the May 100 Auction Test, we see the good news from last week is continuing.

In fact, the weeks either side of the election have been the two most positive auction weeks outside the Feb Pep.

Evidence – clearance rates are on the improve and the hammer rate (homes sold under the hammer) has doubled. That’s a sparkle!

HammerRateMay2019

However, whilst there is glitter, not all that glitters is gold.

Evidence: In a lower stock (homes) market, Bidderman (bidders per auction) is remaining flat and if we were having a market lift then Bidderman would be rising. Well, admittedly it is rising but it’s marginal and it’s not keeping up with the clearance rate stats. See below.

FlatBidderman

So is this what the market analysts call a dead cat bounce?

It’s early days, who knows and maybe meow.

There is an improving spread of bidders – almost 80% of auctions had some bidding today – that’s a substantial improvement.

Buyers are perceiving relief is on its way in terms of tax stability and perhaps some bank LVR easing in their restrictive (but prudent) lending and interest rate improvements. These will encourage demand to some extent and for some time.

  • However, it’s common for our Melbourne market to have a number of subtle mood variances and that is all this is for now.
  • We are also coming off a very low base of confidence and activity (poorer than the GFC earlier this year) AND;
  • Stock levels are so low that theories can’t really be tested.

So

It will definitely be spring and spring with bigger stock numbers before this gasbagger starts telling the world the market is on the up and up.

But let’s be positive, nothing wrong with that.

These last two weeks have been a hell of a lot better than March/April.

Tune-in next Monday June 3rd for the third and final week of the May 100 Auction Test.

7 Lofty Avenue Camberwell. Scott Patterson. $2,138,000 4 Bidders

The lonely volcano – 7 Lofty Avenue, Camberwell. . $2,138,000, 4 Bidders.

VolcanoeaDucks

Yes, the market feels better, here’s some perspective – for the lonely volcano, there was a gaggle of ducks.

CAMBERWELL, 7 Lofty Avenue.  Scott Patterson (Kay & Burton) Under the hammer $2,138,000 4 Bidders

, 4 Glen Road. Passed in $1,900,000 0 Bidders

, 96 Robinson Road. Passed in $2,500,000 0 Bidders

, 25 Kingston Street. Passed in $1,800,000 0 Bidders

SOUTH MELBOURNE, 5 Tribe Street. Passed in $2,700,000 0 Bidders

SOUTH YARRA, 47 Kensington Road. Passed in $4,600,000 0 Bidders

MALVERN EAST, 76 Brunel Street. Passed in. $2,400,000 0 Bidder

GLEN IRIS (Stonnington), 41 Vincent Street. Passed in $2,950,000 0 Bidders

Read all 36 Reports here

Bayside10

62 Sargood Street Hampton. After auction. Robin Parker. $1,905,000 2 Bidders

Bayside on low auction numbers @ low dollar amounts. 62 Sargood Street, Hampton. After auction. Robin Parker. $1,905,000, 2 Bidders.

HAMPTON, 62 Sargood Street. Robin Parker () After auction $1,905,000, 2 Bidders

HAMPTON, 58 Holyrood Street. Mark Earle (Buxton) Under the hammer $1,530,000, 2 Bidders

ALBERT PARK, 15 O’Grady Street. Oliver Bruce (Marshall White) After auction $ undisclosed, 2 Bidders

, 21 Laburnum Street. Todd Dixon (JP Dixon) before auction $ undisclosed

BLACK ROCK, 7 Prospect Grove. Nick Jones (Chisholm & Gamon) before auction $ undisclosed

WEST, 36 Park Street. Peter Kakos (The Agency) After auction $ undisclosed, 0 Bidders

BRIGHTON, 20 Willansby Avenue. Passed in $1,600,000, 1 Bidder

, 7 Loch Street. Passed in $2,920,000, 2 Bidders

Read all 36 Reports here

InnerEast2

27 Beaconsfield Road Hawthorn East. Andrew Hayne. $4,670,000 3 Bidders

Great home – this was still a big under the hammer result for the market – $4m+. 27 Beaconsfield Road, Hawthorn East. Andrew Hayne. $4,670,000, 3 Bidders.

HAWTHORN EAST, 27 Beaconsfield Road. Andrew Hayne (Marshall White) Under the hammer $4,670,000, 3 Bidders

HAWTHORN EAST, 14 Anderson Road. Scott Patterson (Kay & Burton) After auction $3,225,000, 1 Bidder

GLEN IRIS, 6 Trent Street. James Tostevin (Marshall White) Under the hammer $2,810,000, 3 Bidders

HAWTHORN EAST, 13 Jaques Street. Mark Verrocchi () Under the hammer $2,205,000, 2 Bidders

SURREY HILLS, 31 Langford Street. Lloyd Lawton () Under the hammer $2,080,000, 2 Bidders

CAMBERWELL, 23 Wandin Road. Anthony Smith (Woodards) Under the hammer $1,820,000, 3 Bidders

GLEN IRIS, 78 Glen Iris Road. Tim Penhalluriack (Noel Jones) Under the hammer $1,770,000, 2 Bidders

HAWTHORN, 61 Robinson Road. Alby Tomassi (Greg Hocking) bought before $ undisclosed

, 15 Wimba Avenue. Rebecca Edwards (Kay & Burton) bought before $ undisclosed

GLEN IRIS, 29 Bella Vista Road. Passed in $2,575,000, 2 Bidders

 Read all 36 Reports here

Stonnington8

24 Brunel Street Malvern East. Gowan Stubbings, After auction 0 Bidders $ undisclosed, within the range

24 Brunel Street, Malvern East. Gowan Stubbings, After auction, 0 Bidders $ undisclosed, within the range.

ARMADALE, 12 Royal Crescent. John Bongiorno (Marshall White) Under the hammer $3,480,000, 3 Bidders

ARMADALE, 21 Moorhouse Street. Justin Long (Marshall White) Under the hammer $3,065,000, 3 Bidders

PRAHRAN, 9 Ellesmere Road. Hugh Hardy (Abercromby’s) After auction $2,888,000, 2 Bidders

MALVERN EAST, 12 Wattle Grove. Daniel Wheeler (Marshall White) Under the hammer $1,860,000, 2 Bidders

PRAHRAN, 26 Kelvin Grove. Andrew James (Hocking Stuart) After auction $ undisclosed, 1 Bidder

ARMADALE, 2A Murray Street. Nathen Waterson (Jellis Craig) After auction, $ undisclosed, 1 Bidder

MALVERN EAST, 49 Warley Road. John Morrisby (Jellis Craig) After auction, $ undisclosed, 1 Bidder

MALVERN, 12 Milton Parade. James Tomlinson (Marshall White) After auction $ undisclosed, 0 Bidders

MALVERN EAST, 24 Brunel Street. Gowan Stubbings (Kay & Burton) After auction, $ undisclosed, 0 Bidders

ARMADALE, 13 Sutherland Road. John Bongiorno (Marshall White) Passed in $2,625,000, 2 Bidders

Read all 36 Reports here

Buyingoffmarket

A number of buying conversations at the Top End get started on behalf of our clients with mailouts and letterbox drops, just like this one happening in Bayside this week.

Mailout

 

 

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