Mixed Signals (Only Better)
Melbourne Cup Nov 1 Update
Over the Cup – we are taking a few days off. However this week we bought and sold in ways that made a real difference to those we worked for – both doctors. Check out videos.
Buy Sell $800,000 better off
Downsizing Doctor
Multi-Agents $200,000 more
Off market – No Advertising Spend
3 BR Smart Buying Brighton
Multi-Agent Sell - $200,000
Bought in Elwood
from Kaine Lanyon & Stephen Smith
Sold with RT Edgar - An exciting project
Completed during the week – multi-agents – off-market (only advertised in Marketnews) – exciting project for the buyers. Managed by Gina (James Buy Sell) & Warwick (RT Edgar).
Brighton
Well done to Halli Moore of Buxton and to the buyer - its a good home - multiple bidders - sold within range this week.
As buy and sell agents we sell a lot for our buying clients
Canterbury $4m
Armadale $8m
Glen Iris $3m
James Multi-Agent sells & sells with bespoke strategies
Brighton $3m
Toorak $9m
Elwood $3m
In 2022 we've sold & sold with all agents in all areas
Brighton $6m
Toorak $22m
Hawthorn East $6m
James Multi-Agent buy & sells quietly, on & off Market
South Yarra $5m
Mentone $5m
Brighton $6m
Client focused not transactionally driven
Camberwell $7m
Hawthorn $13m
Middle Park $4m
Everyday we compete at the Top End. We cost no more.
Mal 0408 107 988 Gina 0457 835 255
Multi-List Off-Market
Elsternwick
St Georges Precinct
462 sqm
Grant 0403 132 095
Michael 0425 790 233
Tracy 0402 007 882
EOI Close Tue 15 Nov
Brighton
Kew - Underground Basketball Court
Is this America I thought as I wandered from the grounds of tennis court, swimming pools, vast spaces to ………. down the lift, past the enormous underground car park and cinema, to wait for it………..and underground basketball court………..yes full height……….yes I have never, ever seen one before, nor a home like it.
Its AAA, it may well break all records (SOI $20m to $22m), yes even in this market and yes there are some recent big ones in Kew, and it will exchange hands, quietly and with possibly less than a handful of people through, possibly before Christmas, but probably next year says James Tostevin and Gina Kantzas.
Phenomenal, the grandest but most practical Boroondara family home with not a cent to spend, modern interiors to die for, combined with the character of a long history – never to be repeated as is – a truly true truism for this incredible home.
James Buy Sell & Marshall White
Multi-Agent - Off-Market - Soon
Kew
James Tostevin 0417003333
Gina Kantzas 0457835255
Brighton, 13 Huntingfield Road SOI: $4,250,000 – $4,350,000
Sales Agent: Sarah Kobel – Nick Johnstone Crowd: 50
Opening Bid: $4,300,000 Passed in: $4,300,000 After Auction: $undisc
Bidders: 1 Photo: Catherine
Room for Optimism
Those that say the market is weakening, one stat does not support this – 76% Price Agreement – Clearance rate. This was from a whopping 41 auctions we covered today, in the first week of our 3-week 100 auction test, for the last macro market of 2022 – M4 Pre Xmas.
Those that say the market is strengthening, one stat does not support this – Bidderman or bidders per auction – demand depth is 1.2 – that has previously indicated a weakening market. However, in fairness buyers are now looking at the most stock (on market) that they have all year, and that spreads them across more homes.
One thing is for sure, the market is operating incredibly efficiently with a higher clearance rate and lower demand per auction. Well done agents – you are putting more deals together under pressure.
Scaredy Cat Quoting, Underquoting hurts
Agent Pricing is more critical now than it has been in past (strong) markets.
If your quote price is too high – it reduces legit interest (true in weak or strong markets) BUT if it’s too low in this (weaker) market, then it’s unlikely an agent will drag a single buyer up to what the seller could have reasonably got with a better quote.
Why? Lack of competition, lack of a second chance, lack of social proof versus the psychological grips of a first number heard. Agent quoting needs to be spot on – not too high and not too low – fear of paying too much is greater than fear of missing out.
In stronger markets there is far more room for error and underquoting.
In this market, those that are still underquoting should be prosecuted by the CAV and then sued by the seller, as they are leaving money on the table!
But there is another type of quoting that is a problem – it’s not really illegal but it’s just as insidious. Scaredy-cat quoting.
It comes from those agents that we call scaredy-cat quoters – meaning they haven’t got enough backbone to hold for a number if somebody/anybody challenges them.
Example of a scaredy-cat quoter: They say a commission to get a job, the buyer or seller says no and so they drop their pants on their fee because they simply know no other way, they don’t want conflict. In this market those type of buyer and seller agents cost buyers and sellers megabucks – as their inability to hold to a number extends from the fee (a fraction) to the home value (a whole lot more).
In this type of (weaker) market, good deals are dominated by the individual valley and mountains of agent v buyer/seller skills on price. Whereas in a volcanic market all pricing is covered by the spewing lava of insatiable crowd demand that sweeps all opinions before them and hardens to a new, never imagined price – this is how pricing works in a raging macro market, as new landscapes, new levels are formed – versus weaker, melting markets where great valleys and chasms open up on price.
In all markets agents matter, but even more so in these weaker markets – where a great individual can cover for a poorer macro.
One solution is multi-agent. But we digress
We feel the market is in a state of positivity – not seen for near on a year – and whilst as the cliché goes, one rosella does not make a summer, one rosella often means more are on the way (we think that’s sort of it).
So, some doubt as to sustainability of a “better” market as there was this sort of positivity early 2022M3 then it died away; but no doubt that 2022M4 has started as good as it could and better than we expected, on such a strong stock weekend!
Plenty happening for us
We are starting a joint campaign soon on an incredible home with an underground basketball court (yep, you heard right) in Boroondara – working with the legend James Tostevin (see below).
As well, another legend Warwick Anderson, turned back the clock with his twinkle toeing with Gina at 7 Gawith in Toorak. The buyers have bought an exciting project – smart – and Warwick’s effort was first rate. Check out the video below – he really can play the piano.
Both these homes were or will be off-market multi-agent exciting quiet campaigns.
Final legend – at the Overseas Medical Graduates gala ball on Saturday we had the pleasure of watching the great AB (Allan Border) move amongst people from all flavours, from all positions in life. He a real man of grace – a true Aussie icon. See below.
Plenty of publicity of multiple homes coming to market in Brighton’s Golden Mile – check out the relaunch publicly of 26 Bay St Brighton with Alex Schiavo and Jamie Mi – and a little birdie whispered that Marcus Chiminello and Matthew Pillios have resold another piece of absolute Brighton waterfront for more than what it was sold it for, only last year – over $20m!
The Top End is tightening – that’s 100% true – but it’s still transacting when the price and property and position is right – the A-grader 3P rules apply to all homes, at all times!
See our home ratings below – we missed one today and we bought one. The one we bought was with one bid, so always some wonderment from that – was it too high or was the quote too low – we’ll never know – but a great home has been secured.
Next week marketnews is off for the Cup and let’s hope HOO YA MAL can get a run and then a win – sounds like a great horse – although for one of my clients I said I will not participate this year.
MACRO MARKET
2021 M3
2.5
LOW
90%
2022 M1
1.6
MED
63%
2022 M2
1.4
LOW
68%
2022 M3
1.3
LOW
62%
OCT 22
BIDDERMAN 1.2
STOCK MEDIUM
CLEARANCE 76%
Auction Bidder Breakdowns
0 or 1 bidder – 27 in 41. WOW.
V
Only 2 in 41 auctions. WOW.
Stales are high. 25% of M3 auctions remain unsold
Brighton, 31 Warleigh Grove
SOI: $2,900,000 – $3,100,000
Sales Agent: Johnny Clarkson – Buxton
Before Auction: $undisc
Bidders: 1
Albert Park, 63 St Vincent Place South
SOI: $6,700,000 – $7,000,000
Sales Agent: Simon Gowling – Jellis Craig
Before Auction: $undisc
Bidders: 1
Hampton, 48 Service Street
SOI: $2,800,000 – $2,950,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 40
Opening Bid: $2,700,000 VB
Passed in: $2,700,000 VB
After Auction: $2,820,000
Bidders: 0
40 or so damp attendees, unfortunately no bids and the property opened and closed on a vendor bid of $2,700,000.
Elwood, 3 Knight Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Stephen Smith – Marshall White
Crowd: 45
Opening Bid: $3,700,000
On the Market: $3,700,000
Under the Hammer: $3,700,000
Bidders: 1
Middle Park, 355 Danks Street
SOI: $2,700,000 – $2,900,000
Sales Agent: Pil Minerth – Jellis Craig
Crowd: 30
Opening Bid: $2,800,000 VB
On the Market: $3,070,000
Under the Hammer: $3,170,000
Bidders: 2
A vendor bid of $2,800,000 was placed at the start of the auction. Two bidders entered a back and fourth biding. Shortly after the property was on the market at $3,070,000 and sold under hammer for $3,170,000.
Brighton, 13 Huntingfield Road
SOI: $4,250,000 – $4,350,000
Sales Agent: Sarah Kobel – Nick Johnstone
Crowd: 50
Opening Bid: $4,300,000
Passed in: $4,300,000
After Auction: $undisc
Bidders: 1
Fifty people enjoyed a short break from the rain and the convenience of the coffee cart while Nick Johnstone extolled the beauty and value of the home at 13 Huntington road, Brighton. However, the home opened and closed with one bid of $4,300,000.
Albert Park, 61 Dundas Place
SOI: $3,400,000 – $3,600,000
Sales Agent: Oliver Bruce – Marshall White
Crowd: 30
Opening Bid: $3,550,000 VB
Passed in: $3,550,000 VB
Bidders: 0
A crowd sporadically gathered around the property. An opening bid of $3,550,000 was placed by the vendor. The property was passed in with the same vendor bid.
Hampton, 16 Sargood Street
SOI: $2,950,000 – $3,200,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 30
Opening Bid: $2,950,000 VB
Passed in: $2,950,000 VB
After Auction: $3,045,000
Bidders: 0
All quiet at 16 Sargood Street Hampton today as Steve Tickell searched for a buyer among the assembled. However the home was opened and closed at $2,950,000 vendor bid. Sold after $3,045,000
Black Rock, 34 First Street
SOI: $3,100,000 – $3,410,000
Sales Agent: Nick Sinclair – Hodges
Crowd: 20
Opening Bid: $3,100,000
Passed in: $3,250,000
After Auction: $undisc
Bidders: 1
Elsternwick, 2 Regent Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Bill Stavrakis – Biggin & Scott
Crowd: 35
Opening Bid: $2,900000
Passed in: $3,170,000
After Auction: $undisc
Bidders: 2
Wet day timetable auctions today but with a small break in the rain, the crowd gathered in the backyard. 2 bidders went back and forth, but the property passed in for $3,170,000. Sold after.
Albert Park, 62 St Vincent Street
SOI: $2,400,000 – $2,600,000
Sales Agent: Robert Eierweis – O’Brien Real Estate
Crowd: 40
Opening Bid: $2,300,000 VB
On the Market: $2,710,000
Under the Hammer: $2,720,000
Bidders: 2
An initial vendor bid of $2,300,000 was placed at the property of 62 St Vincent Street Albert Park. Two bidders entered. The property sold under the hammer to bidder 1 at $2,720,000.
Middle Park, 88 Armstrong Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Oliver Bruce – Marshall White
Crowd: 40
Opening Bid: $3,100,000 VB
Passed in: $3,315,000
After Auction: $undisc
Bidders: 2
The auctioneer placed a starting vendor bid of $3,100,000. Shortly after two bidders entered. The property was passed in at $3,315,000.
Brighton, 94 Cole Street Brighton
SOI: $3,500,000 – $3,795,000
Sales Agent: Campbell Kilsby – Greg Hocking
Crowd: 60
Opening Bid: $3,500,000 VB
Passed in: $3,500,000 VB
Bidders: 0
Finally a little respite from the rain and about 60 people gather on Cole street to see the auction of number 94. Unfortunately, there isn’t much to see as the home is opened and closed on a vendor bid of $3,500,000.
Brighton East, 199 Were Street
SOI: $4,700,000 – $4,900,000
Sales Agent: Kaine Lanyon – Marshall White
Crowd: 150
Opening Bid: $4,700,000 VB
Passed in: $4,700,000 VB
Bidders: 0
The home opens and closes on a vendor bid of $4,700,000.
Middle Park, 271 Richardson Street
SOI: $2,500,000 – $2,600,000
Sales Agent: Sam Hobbs – Jellis Craig
Crowd: 25
Opening Bid: $2,500,000 VB
Passed in: $2,620,000
After Auction: $undisc
Bidders: 2
2 bidders went back and forth within the range, but it wasn’t enough to put the property on the market.
Hawthorn, 11a Elmie Street
SOI: $5,500,000
Sales Agent: Stu Evans – Marshall White
Before Auction: $undisc
Bidders: 1
Kew, 9 Adeney Avenue Kew
SOI: $3,650,000 – $3,950,000
Sales Agent: Chris Barrett – Marshall White
Before Auction: $undisc
Bidders: 1
Canterbury, 1 Alexandra Avenue
SOI: $3,100,000 – $3,400,000
Sales Agent: Isabella Lu – Jellis Craig
Before Auction: $undisc
Bidders: 1
Glen Iris, 1 Renwick Street
SOI: $2,750,000 – $2,950,000
Sales Agent: Ash Howarth – Marshall White
Before Auction: $undisc
Bidders: 1
Camberwell, 4 Stornoway Road
SOI: $2,800,000 – $2,980,000
Sales Agent: Mark Pezzin – Jellis Craig
Crowd: 30
Opening Bid: $2,800,000 VB
Passed in: $2,850,000
After Auction: $undisc
Bidders: 1
The auctioneer opened with a vendor bid of $2,800,000. Soon after, bidder one placed a bid of $2,850,000. Following a halftime break and no further bids the property was passed in.
Kew, 100 Pakington Street
SOI: $2,750,000 – $3,000,000
Sales Agent: Nick O’Halloran – Jellis Craig
Crowd: 70
Opening Bid: $2,750,000
On the Market: $3,100,000
Under the Hammer: $3,171,000
Bidders: 4
Two bidders kicked things off straight away to a frenzied bidding war, then a third and fourth entered the fray, leading to an eventual result of $3,171,000.
Hawthorn, 64 Hawthorn Grove
SOI: $4,350,000 – $4,750,000
Sales Agent: James Tostevin – Marshall White
Crowd: 55
Opening Bid: $4,500,000 VB
Passed in: $4,525,000
After Auction: $undisc
Bidders: 1
‘Ladies and gentlemen … you will be pleased to know that the pool stays’, quips James Tostevin to the amusement of those gathered. One bidder pipes up at $4,525,000 off the back of a vendor bid. Sold after.
Canterbury, 41 Victoria Avenue
SOI: $7,500,000 – $8,200,000
Sales Agent: Geordie Dixon – Jellis Craig
Crowd: 70
Opening Bid: $7,500,000
On the Market: $8,200,000
Under the Hammer: $8,400,000
Bidders: 4
Opening bid was $7,500,000 but 3 bidders very rapidly took the price to $8,200,000 where it was declared on the market, before the hammer fell at $8,400,000.
Kew, 39 Miller Grove
SOI: $3,000,000 – $3,300,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 30
Opening Bid: $3,000,000
On the Market: $3,500,000
Under the Hammer: $3,770,000
Bidders: 2
Both bidders, in this auction, very quickly took the price to from an opening bid of $3,000,000 to a result of $3,770,000.
Canterbury, 8 Maling Road
SOI: $4,000,000 – $4,400,000
Sales Agent: Mike Beardsley – Jellis Craig
Crowd: 100
Opening Bid: $4,000,000
On the Market: $4,650,000
Under the Hammer: $4,930,000
Bidders: 2
A two-horse race, however, both bidders duked it out until it was on the market at $4,650,000; more frenzied bidding activity caused a sale of $4,930,000.
Hawthorn, 3 Xavier Avenue
SOI: $3,000,000 – $3,300,000
Sales Agent: Annabelle Feng – Rt Edgar
Crowd: $3,000,000 – $3,300,000
Opening Bid: $3,000,000 VB
Passed in: $3,325,000
Bidders: 2
Two bidders dip a toe in after a vendor opening at $3,000,000. A few bids stagger out until a further vendor bid at $3,300,000. Bidder 1 lifts it $25,000 and here it pauses for post-auction negotiations.
Kew, 26 Wimba Avenue
SOI: $3,600,000 – $3,900,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 15
Opening Bid: $3,750,000 VB
Passed in: $3,750,000 VB
Bidders: 0
The auction commenced with a vendor bid of $3,750,000. Following a halftime break and lack of crowd participation the auction was formally passed in.
Kew, 84 Sackville Street
SOI: $4,500,000 – $4,800,000
Sales Agent: Sophie Su – Kay & Burton
Crowd: 80
Opening Bid: $4,600,000 VB
Passed in: $4,700,000 VB
Bidders: 0
The auction started with a vendor bid of $4,600,000. After a half time break a further vendor bid of $4,7000,000 the property was formally passed in.
Hawthorn, 12 Dean Avenue
SOI: $6,250,000 – $6,550,000
Sales Agent: Andrew Gibbons – Marshall White
Crowd: 52
Opening Bid: $6,250,000 VB
Passed in: $6,300,000
Bidders: 1
A crowd comprised of numerous neighbours watch on as an opening vendor bid of $6,250,000 is raised $50,000 by a bidder. Passed in for negotiations soon after.
Camberwell, 12 Pine Avenue
SOI: $3,600,000 – $3,950,000
Sales Agent: Charlie Tostevin – Marshall White
Crowd: 30
Opening Bid: $3,700,000 VB
Passed in: $3,700,000 VB
Bidders: 0
After ample time for buyers to make their presence felt the property passes on a sole vendor bid.
Malvern East, 71 Beaver Street
SOI: $2,500,000 – $2,700,000
Sales Agent: Tom Staughton – Kay & Burton
Before Auction: $undisc
Bidders: 1
Malvern, 17 Hunter Street
SOI: $2,500,000 – $2,600,000
Sales Agent: Sarah Case – RT Edgar
Crowd: 35
Opening Bid: $2,600,000
Passed in: $2,620,000
After Auction: $2,750,000
Bidders: 1
Auctioneer Mark Wridgway started the bidding placing a vendor bid of $2,600,000 This was met by a bid of $20,000. The property was passed in to the sole bidder at $2,620,000. Sold after.
Malvern, 26 Euston Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Carla Fetter – Jellis Craig
Crowd: 30
Opening Bid: $3,000,000
Passed in: $3,085,000
After Auction: $undisc
Bidders: 2
Audience opening bid with 1 other bidder, however property didn’t reach the market price and was passed in.
Malvern, 2 Jordan Street
SOI: $2,800,000 – $3,000,000
Sales Agent: Sarah Sharp – Jellis Craig
Crowd: 35
Opening Bid: $2,750,000
Passed in: $2,750,000
After Auction: $2,890,000
Bidders: 1
The auctioneer started by highlighting the superb location of the home and its light-filled features. One opening bid by the audience, with no other bids the property was passed in at $2,750,000.
Malvern East, 11 Nott Street
SOI: $3,200,000 – $3,500,000
Sales Agent: John Morrisby
Crowd: 35
Opening Bid: $3,250,000 VB
Passed in: $3,275,000
After Auction: $undisc
Bidders: 1
With a hand raised as soon as Auctioneer John Morrisby asked for bids, I anticipated a fast paced auction. It was not to be. The property was soon passed in to this sole bidder and sold soon after.
Malvern East, 28 Kerferd Street
SOI: $3,300,000 – $3,600,000
Sales Agent: Matthew Morley – Gary Peer
Crowd: 50
Opening Bid: $3,300,000 VB
On the Market: $3,610,000
Under the Hammer: $3,620,000
Bidders: 2
With a slow start to the auction, after the break 2 bidders entered. A thrilling battle against the 2 bidders with the property selling under the hammer at $3,620,000.
Malvern East, 6 Nyora Street
SOI: $5,000,000 – $5,500,000
Sales Agent: John Manton – Marshall White
Crowd: 60
Opening Bid: $5,000,000 VB
Passed in: $5,350,000
After Auction: $undisc
Bidders: 2
Auctioneer Daniel Wheeler opened the bidding with a vendor bid of $5,000,000. A first bidder placed a $50,000 bid and was swiftly joined by a second bidder. The property was passed in for $5,350,000 to the first bidder. Sold after.
Prahran, 23 Larnook Street
SOI: $2,200,000 – $2,420,000
Sales Agent: Michael Tyan – Biggin & Scott
Crowd: 35
Opening Bid: $2,200,000
On the Market: $2,725,000
Under the Hammer: $2,750,000
Bidders: 2
As Auctioneer Tom McCarthy was about to pass the property in, two bidders sprang to action. The property was soon on the market and sold with a round of applause to the second bidder.
Malvern East, 12 Serrell Street
SOI: $2,400,000 – $2,600,000
Sales Agent: Ray White – Jie Zhang
Crowd: 40
Opening Bid: $2,500,000 VB
Passed in: $2,500,000 VB
After Auction: $undisc
Bidders: 0
With an opening vendor bid of $2,500,000, there were no bidders and the property was passed in.
Malvern, 1 Ewart Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Fiona Ansell-Jones – Marshall White
Crowd: 60
Opening Bid: $2,000,000 VB
Passed in: $2,000,000 VB
Bidders: 2
A crowd of 40 gathered inside 1 Ewart Street Malvern. Auctioneer Andrew Hayne opened and closed the bidding with a sole vendor bid The property was passed in on the vendor bid of $2,000 000.
South Yarra, 7 Motherwell Street
SOI: $3,500,000 – $3,800,000
Sales Agent: Nathan Waterson – Jellis Craig
Crowd: 30
Opening Bid: $3,500,000 VB
Passed in: $3,500,000 VB
Bidders: 0
Nathan Waterson both opened and closed the bidding placing a sole vendor bid of $3,500,000.
Bayside & Port Phillip Live!
by Gina Kantzas and Mal James
Albert Park Brighton Brighton East Elsternwick Elwood Hampton Middle Park
The price agreement rate (clearance) was volcanic but the depth of bidders (Bidderwoman) was seemingly incredibly shallow – as it has been all year in Bayside and Port Phillip – however agents are still getting the job done and to get a deal done you only need 1 on each side.
In Bayside and Port Phillip if your quote price is too high – its no interest and if its too low then its unlikely you will drag a single buyer up – so agent quoting needs to be spot on – not too high and not too low.
Brighton East, 199 Were Street SOI: $4,700,000 – $4,900,000
Crowd: 150
Opening Bid: $4,700,000 VB Passed in: $4,700,000 VB
Bidders: 0 Photo: Catherine
Brighton, 31 Warleigh Grove
SOI: $2,900,000 – $3,100,000
Sales Agent: Johnny Clarkson – Buxton
Before Auction: $undisc
Bidders: 1
Albert Park, 63 St Vincent Place South
SOI: $6,700,000 – $7,000,000
Sales Agent: Simon Gowling – Jellis Craig
Before Auction: $undisc
Bidders: 1
Hampton, 48 Service Street
SOI: $2,800,000 – $2,950,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 40
Opening Bid: $2,700,000 VB
Passed in: $2,700,000 VB
After Auction: $2,820,000
Bidders: 0
40 or so damp attendees, unfortunately no bids and the property opened and closed on a vendor bid of $2,700,000.
Elwood, 3 Knight Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Stephen Smith – Marshall White
Crowd: 45
Opening Bid: $3,700,000
On the Market: $3,700,000
Under the Hammer: $3,700,000
Bidders: 1
Middle Park, 355 Danks Street
SOI: $2,700,000 – $2,900,000
Sales Agent: Pil Minerth – Jellis Craig
Crowd: 30
Opening Bid: $2,800,000 VB
On the Market: $3,070,000
Under the Hammer: $3,170,000
Bidders: 2
A vendor bid of $2,800,000 was placed at the start of the auction. Two bidders entered a back and fourth biding. Shortly after the property was on the market at $3,070,000 and sold under hammer for $3,170,000.
Brighton, 13 Huntingfield Road
SOI: $4,250,000 – $4,350,000
Sales Agent: Sarah Kobel – Nick Johnstone
Crowd: 50
Opening Bid: $4,300,000
Passed in: $4,300,000
After Auction: $undisc
Bidders: 1
Fifty people enjoyed a short break from the rain and the convenience of the coffee cart while Nick Johnstone extolled the beauty and value of the home at 13 Huntington road, Brighton. However, the home opened and closed with one bid of $4,300,000.
Albert Park, 61 Dundas Place
SOI: $3,400,000 – $3,600,000
Sales Agent: Oliver Bruce – Marshall White
Crowd: 30
Opening Bid: $3,550,000 VB
Passed in: $3,550,000 VB
Bidders: 0
A crowd sporadically gathered around the property. An opening bid of $3,550,000 was placed by the vendor. The property was passed in with the same vendor bid.
Hampton, 16 Sargood Street
SOI: $2,950,000 – $3,200,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 30
Opening Bid: $2,950,000 VB
Passed in: $2,950,000 VB
After Auction: $3,045,000
Bidders: 0
All quiet at 16 Sargood Street Hampton today as Steve Tickell searched for a buyer among the assembled. However the home was opened and closed at $2,950,000 vendor bid. Sold after $3,045,000
Black Rock, 34 First Street
SOI: $3,100,000 – $3,410,000
Sales Agent: Nick Sinclair – Hodges
Crowd: 20
Opening Bid: $3,100,000
Passed in: $3,250,000
After Auction: $undisc
Bidders: 1
Elsternwick, 2 Regent Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Bill Stavrakis – Biggin & Scott
Crowd: 35
Opening Bid: $2,900000
Passed in: $3,170,000
After Auction: $undisc
Bidders: 2
Wet day timetable auctions today but with a small break in the rain, the crowd gathered in the backyard. 2 bidders went back and forth, but the property passed in for $3,170,000. Sold after.
Albert Park, 62 St Vincent Street
SOI: $2,400,000 – $2,600,000
Sales Agent: Robert Eierweis – O’Brien Real Estate
Crowd: 40
Opening Bid: $2,300,000 VB
On the Market: $2,710,000
Under the Hammer: $2,720,000
Bidders: 2
An initial vendor bid of $2,300,000 was placed at the property of 62 St Vincent Street Albert Park. Two bidders entered. The property sold under the hammer to bidder 1 at $2,720,000.
Middle Park, 88 Armstrong Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Oliver Bruce – Marshall White
Crowd: 40
Opening Bid: $3,100,000 VB
Passed in: $3,315,000
After Auction: $undisc
Bidders: 2
The auctioneer placed a starting vendor bid of $3,100,000. Shortly after two bidders entered. The property was passed in at $3,315,000.
Brighton, 94 Cole Street Brighton
SOI: $3,500,000 – $3,795,000
Sales Agent: Campbell Kilsby – Greg Hocking
Crowd: 60
Opening Bid: $3,500,000 VB
Passed in: $3,500,000 VB
Bidders: 0
Finally a little respite from the rain and about 60 people gather on Cole street to see the auction of number 94. Unfortunately, there isn’t much to see as the home is opened and closed on a vendor bid of $3,500,000.
Brighton East, 199 Were Street
SOI: $4,700,000 – $4,900,000
Sales Agent: Kaine Lanyon – Marshall White
Crowd: 150
Opening Bid: $4,700,000 VB
Passed in: $4,700,000 VB
Bidders: 0
The home opens and closes on a vendor bid of $4,700,000.
Middle Park, 271 Richardson Street
SOI: $2,500,000 – $2,600,000
Sales Agent: Sam Hobbs – Jellis Craig
Crowd: 25
Opening Bid: $2,500,000 VB
Passed in: $2,620,000
After Auction: $undisc
Bidders: 2
2 bidders went back and forth within the range, but it wasn’t enough to put the property on the market.
ALBERT PARK Family Home bigger land $10m
Boroondara Live!
by Gina Kantzas and Mal James
Camberwell Canterbury Glen Iris Hawthorn Hawthorn East Kew
Hawthorn, 12 Dean Avenue SOI: $6,250,000 – $6,550,000
Crowd: 52
Opening Bid: $6,250,000 VB Passed in: $6,300,000
Bidders: 1 Photo: Randall
Hawthorn, 11a Elmie Street
SOI: $5,500,000
Sales Agent: Stu Evans – Marshall White
Before Auction: $undisc
Bidders: 1
Kew, 9 Adeney Avenue Kew
SOI: $3,650,000 – $3,950,000
Sales Agent: Chris Barrett – Marshall White
Before Auction: $undisc
Bidders: 1
Canterbury, 1 Alexandra Avenue
SOI: $3,100,000 – $3,400,000
Sales Agent: Isabella Lu – Jellis Craig
Before Auction: $undisc
Bidders: 1
Glen Iris, 1 Renwick Street
SOI: $2,750,000 – $2,950,000
Sales Agent: Ash Howarth – Marshall White
Before Auction: $undisc
Bidders: 1
Camberwell, 4 Stornoway Road
SOI: $2,800,000 – $2,980,000
Sales Agent: Mark Pezzin – Jellis Craig
Crowd: 30
Opening Bid: $2,800,000 VB
Passed in: $2,850,000
After Auction: $undisc
Bidders: 1
The auctioneer opened with a vendor bid of $2,800,000. Soon after, bidder one placed a bid of $2,850,000. Following a halftime break and no further bids the property was passed in.
Kew, 100 Pakington Street
SOI: $2,750,000 – $3,000,000
Sales Agent: Nick O’Halloran – Jellis Craig
Crowd: 70
Opening Bid: $2,750,000
On the Market: $3,100,000
Under the Hammer: $3,171,000
Bidders: 4
Two bidders kicked things off straight away to a frenzied bidding war, then a third and fourth entered the fray, leading to an eventual result of $3,171,000.
Hawthorn, 64 Hawthorn Grove
SOI: $4,350,000 – $4,750,000
Sales Agent: James Tostevin – Marshall White
Crowd: 55
Opening Bid: $4,500,000 VB
Passed in: $4,525,000
After Auction: $undisc
Bidders: 1
‘Ladies and gentlemen … you will be pleased to know that the pool stays’, quips James Tostevin to the amusement of those gathered. One bidder pipes up at $4,525,000 off the back of a vendor bid. Sold after.
Canterbury, 41 Victoria Avenue
SOI: $7,500,000 – $8,200,000
Sales Agent: Geordie Dixon – Jellis Craig
Crowd: 70
Opening Bid: $7,500,000
On the Market: $8,200,000
Under the Hammer: $8,400,000
Bidders: 4
Opening bid was $7,500,000 but 3 bidders very rapidly took the price to $8,200,000 where it was declared on the market, before the hammer fell at $8,400,000.
Kew, 39 Miller Grove
SOI: $3,000,000 – $3,300,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 30
Opening Bid: $3,000,000
On the Market: $3,500,000
Under the Hammer: $3,770,000
Bidders: 2
Both bidders, in this auction, very quickly took the price to from an opening bid of $3,000,000 to a result of $3,770,000.
Canterbury, 8 Maling Road
SOI: $4,000,000 – $4,400,000
Sales Agent: Mike Beardsley – Jellis Craig
Crowd: 100
Opening Bid: $4,000,000
On the Market: $4,650,000
Under the Hammer: $4,930,000
Bidders: 2
A two-horse race, however, both bidders duked it out until it was on the market at $4,650,000; more frenzied bidding activity caused a sale of $4,930,000.
Hawthorn, 3 Xavier Avenue
SOI: $3,000,000 – $3,300,000
Sales Agent: Annabelle Feng – Rt Edgar
Crowd: $3,000,000 – $3,300,000
Opening Bid: $3,000,000 VB
Passed in: $3,325,000
Bidders: 2
Two bidders dip a toe in after a vendor opening at $3,000,000. A few bids stagger out until a further vendor bid at $3,300,000. Bidder 1 lifts it $25,000 and here it pauses for post-auction negotiations.
Kew, 26 Wimba Avenue
SOI: $3,600,000 – $3,900,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 15
Opening Bid: $3,750,000 VB
Passed in: $3,750,000 VB
Bidders: 0
The auction commenced with a vendor bid of $3,750,000. Following a halftime break and lack of crowd participation the auction was formally passed in.
Kew, 84 Sackville Street
SOI: $4,500,000 – $4,800,000
Sales Agent: Sophie Su – Kay & Burton
Crowd: 80
Opening Bid: $4,600,000 VB
Passed in: $4,700,000 VB
Bidders: 0
The auction started with a vendor bid of $4,600,000. After a half time break a further vendor bid of $4,7000,000 the property was formally passed in.
Hawthorn, 12 Dean Avenue
SOI: $6,250,000 – $6,550,000
Sales Agent: Andrew Gibbons – Marshall White
Crowd: 52
Opening Bid: $6,250,000 VB
Passed in: $6,300,000
Bidders: 1
A crowd comprised of numerous neighbours watch on as an opening vendor bid of $6,250,000 is raised $50,000 by a bidder. Passed in for negotiations soon after.
Camberwell, 12 Pine Avenue
SOI: $3,600,000 – $3,950,000
Sales Agent: Charlie Tostevin – Marshall White
Crowd: 30
Opening Bid: $3,700,000 VB
Passed in: $3,700,000 VB
Bidders: 0
After ample time for buyers to make their presence felt the property passes on a sole vendor bid.
Hawthorn with Tennis Court $10m
Stonnington Live!
by Gina Kantzas and Mal James
Armadale Malvern Malvern East Prahran Richmond South Yarra Toorak
Strong Price Agreement Rate Clearance) of 82% – but with a less than convincing demand depth of Bidderman 1.3.
Plenty of sellers still needed to see the auction, to make a decision on the final price, with a number sold after a pass-in, but with only minor improvements to pass-in price.
For where Stonnington was in early Spring M3 – this is a promising start to the pre-Christmas market M4.
Malvern, 26 Euston Street SOI: $3,000,000 – $3,300,000
Sales Agent: Carla Fetter – Jellis Craig Crowd: 30
Opening Bid: $3,000,000 Passed in: $3,085,000 After Auction: $undisc
Bidders: 2 Photo: Elise
Malvern East, 71 Beaver Street
SOI: $2,500,000 – $2,700,000
Sales Agent: Tom Staughton – Kay & Burton
Before Auction: $undisc
Bidders: 1
Malvern, 17 Hunter Street
SOI: $2,500,000 – $2,600,000
Sales Agent: Sarah Case – RT Edgar
Crowd: 35
Opening Bid: $2,600,000
Passed in: $2,620,000
After Auction: $2,750,000
Bidders: 1
Auctioneer Mark Wridgway started the bidding placing a vendor bid of $2,600,000 This was met by a bid of $20,000. The property was passed in to the sole bidder at $2,620,000. Sold after.
Malvern, 26 Euston Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Carla Fetter – Jellis Craig
Crowd: 30
Opening Bid: $3,000,000
Passed in: $3,085,000
After Auction: $undisc
Bidders: 2
Audience opening bid with 1 other bidder, however property didn’t reach the market price and was passed in.
Malvern, 2 Jordan Street
SOI: $2,800,000 – $3,000,000
Sales Agent: Sarah Sharp – Jellis Craig
Crowd: 35
Opening Bid: $2,750,000
Passed in: $2,750,000
After Auction: $2,890,000
Bidders: 1
The auctioneer started by highlighting the superb location of the home and its light-filled features. One opening bid by the audience, with no other bids the property was passed in at $2,750,000.
Malvern East, 11 Nott Street
SOI: $3,200,000 – $3,500,000
Sales Agent: John Morrisby
Crowd: 35
Opening Bid: $3,250,000 VB
Passed in: $3,275,000
After Auction: $undisc
Bidders: 1
With a hand raised as soon as Auctioneer John Morrisby asked for bids, I anticipated a fast paced auction. It was not to be. The property was soon passed in to this sole bidder and sold soon after.
Malvern East, 28 Kerferd Street
SOI: $3,300,000 – $3,600,000
Sales Agent: Matthew Morley – Gary Peer
Crowd: 50
Opening Bid: $3,300,000 VB
On the Market: $3,610,000
Under the Hammer: $3,620,000
Bidders: 2
With a slow start to the auction, after the break 2 bidders entered. A thrilling battle against the 2 bidders with the property selling under the hammer at $3,620,000.
Malvern East, 6 Nyora Street
SOI: $5,000,000 – $5,500,000
Sales Agent: John Manton – Marshall White
Crowd: 60
Opening Bid: $5,000,000 VB
Passed in: $5,350,000
After Auction: $undisc
Bidders: 2
Auctioneer Daniel Wheeler opened the bidding with a vendor bid of $5,000,000. A first bidder placed a $50,000 bid and was swiftly joined by a second bidder. The property was passed in for $5,350,000 to the first bidder. Sold after.
Prahran, 23 Larnook Street
SOI: $2,200,000 – $2,420,000
Sales Agent: Michael Tyan – Biggin & Scott
Crowd: 35
Opening Bid: $2,200,000
On the Market: $2,725,000
Under the Hammer: $2,750,000
Bidders: 2
As Auctioneer Tom McCarthy was about to pass the property in, two bidders sprang to action. The property was soon on the market and sold with a round of applause to the second bidder.
Malvern East, 12 Serrell Street
SOI: $2,400,000 – $2,600,000
Sales Agent: Ray White – Jie Zhang
Crowd: 40
Opening Bid: $2,500,000 VB
Passed in: $2,500,000 VB
After Auction: $undisc
Bidders: 0
With an opening vendor bid of $2,500,000, there were no bidders and the property was passed in.
Malvern, 1 Ewart Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Fiona Ansell-Jones – Marshall White
Crowd: 60
Opening Bid: $2,000,000 VB
Passed in: $2,000,000 VB
Bidders: 2
A crowd of 40 gathered inside 1 Ewart Street Malvern. Auctioneer Andrew Hayne opened and closed the bidding with a sole vendor bid The property was passed in on the vendor bid of $2,000 000.
South Yarra, 7 Motherwell Street
SOI: $3,500,000 – $3,800,000
Sales Agent: Nathan Waterson – Jellis Craig
Crowd: 30
Opening Bid: $3,500,000 VB
Passed in: $3,500,000 VB
Bidders: 0
Nathan Waterson both opened and closed the bidding placing a sole vendor bid of $3,500,000.
Toorak Family Home $16m
Toorak Family Home $10m
Armadale Family Home $8m
Why Buy Now with James Buyer Advocates?
More talk about price implosions from our expert friends again – we admire their tenacity.
In 2030 please let us know how your pause on buying strategy went for your family.
Some historical client budget comparisons – 8 years ago and then 8 years before that.
We looked back over our buy sell client records & agent databases.
- Between 2006 and 2014 there was the GFC
- Between 2014 and 2022 there was the Pandemic.
- Between 2022 and 2030 there will be the ?
If you’re waiting for Melbourne Top End A-Graders to go down big time – good luck.
CLIENT BUDGETS
ST GEORGES RD TOORAK LAND psm
2006
$3500
2014
$7000
2022
$13000
GLEN IRIS
FAMILY HOME
$1,000,000
$2,000,000
$3,500,000
GASCOIGNE
PERIOD HOME
$2,000,000
$3,000,000
$5,000,000
ALBERT PARK
SINGLE FRONTER
$800,000
$1,500,000
$3,250,000
MIDDLE BRIGHTON
FAMILY HOME
$1,750,000
$3,000,000
$5,000,000
KEW SACKVILLE
HIGH END HOME
$5,000,000
$10,000,000
$20,000,000
CBD HIGH RISE
WE DON’T BUY
$500,000
$600,000
$500,000
ASX STOCKMARKET
NOEL WHITTAKER
$1,000,000
$1,740,000
$2,540,000
Measurements
There are 3 markets we focus on when buying or selling a home.
- Macro – what is happening in the wider market
- Micro – what is happening in a specific price range or location or home type – PPP’s
- Individual – What is happening on the one sale with specific agent, buyers, presentation, luck, asking price and so on.
What we focus on in the 100 Auction Test are the Macro and Micro. For the Macro we look at three demand and supply measurements.
- Stock Levels or Supply: Currently it is ok -but you would expect to be ok in October
- Bidderers (We miss Bidderman) Bidders per auction or Demand: Currently low
- Clearance Rates: Shows buyer and seller agreement on price. Currently low
Many of our clients are doctors – we like to return the support where we can.
@ the Hyatt Saturday October 22nd with Allan Border and Ravi Shastri
It was good to watch the great Helen Yan from Ray White try and fathom what Indians and Anglos were talking about when it came to cricket – with the stylish Brad Cooper sort of interpreting!
Sri Lankan T-20 cricket supporters, the gorgeous dancing Mou and sharp-dressing Uday Bhatt are long-standing clients, referrers, and one of the power couples behind organising the OMGA gala ball. Uday can always be found at visioneyeinstitute.com.au and hope they look after me in surgery next week.
The great AB – Allan Border – was gracious enough to pose in between guest speaking duties – completely the opposite to his Captain Grumpy tag – he is a genuinely warm and caring man, with time for all.
Two of the nicest guys are directors of DPM.com.au Tyler Hunter and Daniel Heath (outsides) – hard to believe they are actually financial planners and accountants.
DPM specialises in the medical profession – have been helping our clients for 20 years finance good property decisions. We recommend them because doctors respect them – we have no financial relationship.
Not pictured in their penguin suits, because they were on the beers somewhere, but our guests are property lawyers we respect and recommend and have for over a decade: Dennis Danaher and Lee Patouras of DanaherMoulton.com.au
Above: Download the 24 page Girls/Boys Own Top End Property Manual printed for the Overseas Medical Graduates Association night.
Winner of the Bottle of Grange: Dr Vijay Navani Congrats!
October 22 – Speech for OMGA Dinner
JAMES BUY SELL
Welcome
We are in awe of what overseas doctors have achieved here in Melbourne and in Africa. Thank you for allowing us to sponsor your night – Sincerely THANK YOU.
Buying and Selling Top End Melbourne Family Homes: This year to date we completed a $65million family home buy sell and 3 buy sells over $20million.
The interesting thing about these clients – the first homes when we started with them a while ago – were all under $5m – good decision, good growth – increasing wealth.
We are buyer advocates and buy sell agents and we help you make good decisions.
My name is Mal James – James Buy Sell and we are here tonight – thanks to Uday and Mou. We have bought & sold homes for them & 6 doctors within Uday’s group.
We have less than 5 minutes together. Let’s have some fun.
We have less than 5 minutes together. Let’s have some fun.
This is a bottle of Grange – or a $1000 donation to child surgery for the abstainers
This is our sponsor booklet – you need to open it to win the Grange AND your phone
Tonight: Many of you will see how to go from $2m to $10m in Melbourne family homes. Values, Right People, Quicksand, Finding Beauty – Good Decisions.
The book – open the page please. It’s got a picture of beachfront on it.
The first correct guess emailed to me on what we paid – this year – wins the Grange.
How much is it worth – $2m or $20m
Grab your phone – don’t look at your texts and email me – mal@james.net.au
Its absolute beachfront – not Brighton, its Aspendale
2000 sqm land. 20year-old home. If you participate you will learn how to make $
Is it $3,000,000 $10,000,000 $18,000,000
Values are not easy when you don’t have all the information, and you are under the pump – a lot like your Medicine hey!
The agent’s quote was $8m to $8.8 million. One bank valuation was also $8m. Another val was almost $11m – over $2m difference – same week – and all this year.
Here’s a googly. The Underbidder was $13,000,000 – $5m more than the quote – email mal@james.net.au – in your book – first correct guess – wins.
People ask what we as buyer agents or advocates do – What do we do for you?
We get values right. Think $10m and you missed this unique home. If you wrote $17million you didn’t sell it. If you were buying at $17million – you overpaid
Like in medicine – we deal in opinions, and we need to get them right.
We make millions buying and selling real estate in Melbourne – for you, our clients.
We buy for less. Sell for more. Keys – A-Graders – Off market – Relationships
Let’s change gear in the minute or so left.
What do Overseas Medical have in common with Top End Melbourne Real Estate?
Actually, a hell of a lot. Corruption / underquoting, innuendo / time wasting / stress / Good and Bad People versus beautiful simple exquisite success.
The purity of an A- Grader home and the purity of a simple child surgery – healthy.
Transforming – meaning of life – purpose.
Currently we send $10,000 every month to hospitals overseas to pay for children of the poor – who need, but can’t get, simple life changing surgeries. Tonsils to tendons.
$10,000 every month – 500 child surgeries in Africa to date – 250 plus homeless families – helped right here in Melbourne.
We deal in Africa with corruption and getting to the truth but also to beauty
AND
In Melbourne real estate TOP END – the same – corruption – truth and beauty.
What do we as buyer agents do. We deal with relationships in quicksand.
All our work comes from referrals, mainly doctors – over 20 years -– anaesthetists, surgeons from business men and women – inside and outside Medicine.
Referrals: We are trusted to get buyers and sellers what they really, really want
Truth Opinions Values – Your Medicine has it – Our Real Estate has it
Thank you for your time – enjoy your night – to win that bottle of Grange or a Child Surgery – email me to mal@james.net.au by the end of the week.
Well done to ALL doctors!! Thank you: Mal (0408 107 988) and Gina (0457 835 255)
Thank you to Alec Arnot (creativevisuals.com.au) Sim, Mads, Phe & K (office) Soushi (awd.com.au) & Wanyi for some extra efforts to pull this all together in time. Well done G.
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