3Rs – Roots, Regeneration & Resilience

Sunday, May 26th, 2024

All the leaves are brown and the sky is grey

I stopped into an auction on a Winter's day.

CANTERBURY, 50 Faversham Road SOI: $3,500,000 - $3,850,00 Sales agent: Elsa Li – Buxton Crowd: 40 Opening Bid: $3,300,000 Passed in: $3,345,000 Bidders: 2 Hannah

• Overall market is weak (but not dead) with lots of price sensitive stock that is not attracting any interest from a shallow buyer pool.

• Today's evidence of this was 40% of auctions (39) we covered had no bidding. However when you hit the mark with an A-Grader meaning Position, Property AND Price then it can still fly.

• The Inner East is still Melbourne's Top End strongest market

• Bayside is a real battle of persistence, patience and price revision

• Stonnington overall very little action in terms of stock or bidders

What a Volcano - 7 Bidders @ Kew circa $4m

KEW, 6 Dean Street SOI: $3,000,000 - $3,300,000 Sales agent: Sophie Su – Kay & Burton Crowd: 0 Opening Bid: $3,000,000 VB On market: $3,460,000 Under Hammer: $3,990,000 Bidders: 7 Jo

Mal James 

Buy Sell Agent

0408 107 988   

mal@james.net.au

Today, as we completed the second ‘100 Auction Market’ test of the year (2024 M2 May), the top-end market statistics validate our ongoing observations: it’s challenging for sellers at the top, but not impossible with the right approach—emphasizing patience, persistence, and price revisions. For buyers, particularly those looking to trade up, this represents a significant opportunity.

 

Additionally, we feature an article on the 3Rs: Roots, Regeneration, and Resilience.

 

This week’s edition includes a detailed analysis of the most significant auctions, highlighting the successful bid by our clients R&T, who secured a property for just over $7 million at 13 Fairview, Glen Iris.

 

We conclude this segment—the last Market News for a few weeks—with comprehensive statistics and a key analysis of the auctions across the top-end markets of Bayside, Boroondara, and Stonnington.

The 3Rs – Roots, Regeneration, and Resilience

 

It’s been an interesting week, one at the crossroads of change, one tinged with a tear but also filled with excitement and positives.

 

For the past 8 years, I’ve worked with an incredible man in Africa named Letion. He has been instrumental in locating over 850 impoverished children who needed life-changing, and sometimes life-saving, surgeries, which our family business, James Buy Sell, funded. Letion is now branching out on his own. Good luck, Letion, and thank you for your resilience.

 

After nearly 14 years of partnership with Gina, from here on, we will operate separate businesses—Gina at GK Buy Sell (0457 835 255) and myself at James Buy Sell. However, we are and will continue to collaborate on future buying and buy sell clients, a venture that has already begun. It’s an exciting development and feels entirely appropriate for regenerating both our paths.

 

This Monday marks my last day at RMIT, where I’ve completed the requirements for a Master’s degree—my first. My mother would have been proud. Despite some challenges within tertiary education, it was exhilarating to be intellectually stimulated anew, diving into Design Thinking, Management Innovation, and Blockchain with Professor Ashton De Silva at RMIT. Amusingly, I first enrolled in a business degree at RMIT in 1977 and didn’t pass, making my graduation in 2025 perhaps a record of somewhat!

This week feels akin to being at Richmond Station, where various paths converge. As one moves through, myriad new journeys unfold—whether you’re arriving from the City Loop, Flinders Street, or the MCG. One might then embark on a train to Glen Waverley, Frankston/Pakenham, or Sandy lines, each leading to distinctly different destinies.

 

Standing at a station looking forward – James Buy Sell and now Shelter by the bay will continue to fund child surgeries in the Sub-sahara and is about to embark on helping build one of the few children’s hospitals in Africa at Selian, Arusha in Tanzania. Concurrently, I’m exploring a startup in some form of crypto/blockchain/AI with fellow students Austern and Louis from distant parts of Asia. Additionally, a new venture Shelter by the bay with Zali Reynolds—a formidable real estate agent under 40—along with Simone, Melina, and Sam, who bring a refreshing energy to selling Top End homes in the bay area – that refreshing new energy is FEB: Female led, Ethical foundation and Buyer focussed – and yes, it is getting colder during those Elwood morning swims.

 

I’m one of the luckiest humans going around – lucky as I have never been smart enough to amass large amounts of wealth and so I really have to get out of bed every morning with a sense of purpose – lucky in that for whatever reason family very early on was imprinted in my DNA as most important AND lucky because for the last 33 years I have lived in the one place and it’s a place that I feel totally connected to – Brighton North in Warleigh Grove. When you travel and see the world – Brighton North is really lucky!

 

There is something to be said for a new home and a move… but there is something that also should be boasted about at dinner parties. Roots – it’s the value of roots, deep roots… living in the one place you love for a very long time, a place that you feel connected to as many of our indigenous peoples do, that you have seen your children grow up in and your parents move on from… gives you and your entire family a wonderful emotional stability and that’s worth cracking some Bolly (I’ve gone French) over, from time to time. There is nothing quite like good roots!

 

So, this week as we initiated, fought, and bought 13 Fairview Glen Iris for repeat clients (R&T) in a volcano EOI shootout, north of $7m, at the home late on a Friday night, 5 days before the close… it reinforced Roots and Regeneration with the 3rd R – Resilience.

 

Resilience: R & T’s and their young family have been on the trail for a few years and now finally their life will be on a more settled trajectory, as they transition from a wonderful, but now too small Gascoigne off-market, we (Gina and I) bought for them half a dozen years ago, to a grand forever family home with all the emotive bells, whistles, drums, flutes, and any other sensory feelings you could wish for in a great house, a great home. They had the resilience to never give up on their dream and then when they found it, the resilience to fight as hard as they could to get it. Resilience.

 

The full story next time showing how a Top End volcano works and how trading up from a smaller to a forever family home is fertile ground in today’s market. For buyers, it could be the 3R’s when buying well Roots, Regeneration, and Resilience and for sellers it could be those things plus Patience, Persistence, and Price Respect or Revision. For buy/sellers it could be all of the above.

 

Can I finish with something warm, of course, I can, I’m writing this piece. The New York Times – The Daily, had a podcast on the Whales Alphabet last week. It’s worth a listen in front of a warm fire with a glass of relaxing tonic, perhaps with a partner or child nearby, as you think of life as something always changing, something surprisingly new and old, and something inherently good.

 

Until next we meet, as I will take a few weeks off from writing to focus on James Buy Sell clients, so until then and on the King’s Birthday… Go Pies.

Our Clients Bought - Volcano EOI Private Auction

Auction Report: $7M+ Volcano at 13 Fairview, Glen Iris — Masterfully handled by the Tomlinson clan of Rae, James, and Hugh from Marshall White, this property was acquired by Gina of GK Buy Sell and myself of James Buy Sell on behalf of our clients last night in a four-bidder volcano auction.

 

We considered the quote conservative yet understandable given the current market, emphasizing the 3Ps: persistence, patience, and price respect or revision, with an initial range of approximately $5.9m to $6.5m.

 

Our clients, R&T, along with Gina and myself, had thoroughly reviewed the property and were aligned in our assessment. This led to two Expression of Interest (EOI) strategy meetings, followed by legal reviews, ratings checks, and pest and building inspections. Subsequently, we presented a $6.5m offer 48 hours ago, five days before the EOI deadline. This offer was initially rejected but initiated further negotiations as anticipated, and two additional offers of $6.6m resulted in the property being placed on the market for a private auction, which was set with five hours’ notice on Friday evening at the property.

 

After dark, with four parties present—three in person and one via phone—the auction commenced under James Tomlinson’s leadership. Bids were made in increments of $50,000 and $25,000 until our clients secured the property for just over $7m. Although four bidders participated, which was advantageous for the seller, the overall bidding was somewhat subdued. Compared to one and three years ago, when the market was more robust, this property would have fetched significantly more. This underscores our current advice: now is an opportune time to trade up, as more modestly priced homes will sell if priced correctly, and the gap to upscale properties is narrower than it has been recently and might be soon.

13 Fairview Glen Iris. James Home Rating Comments

Few would rate this as cutting edge, but many will really like it.

 

All of us can find fault, and we are no exception, but no one who bids will think of those as they sail past where they hoped, where they wanted, and finally where they felt comfortable buying.

 

But someone will buy this, and they will have in their head to do this and then that and ……..but gut feel is they won’t, in the end, change much. Well, not if they’re smart, for this home has appeal—not from a showroom or a book or an aloof opinion of greatness—but because it feels good.

 

And why does it feel good? Because from little child to the boss spouse, there is something to connect to.

 

Position – well, in our mind, Fairview is THE street in Glen Iris. But you know what? It’s not just in our mind – I remember several years ago being one of nine bidders and losing in a shootout at $9m across the road. Think about that……. yes, bigger land, but nine and $9m….. so, it’s not just Gina and I that rate Fairview….. there is a cohort of others.

 

That was the other side of the street…….. we like this side a lot better for multiple reasons. The home sits proudly on the street. This would simply not be the same look, sitting down across the asphalt….. it wouldn’t work. Sound ? It’s quieter in the back, on this side, away from the occasional freeway wind noise as you have a building largely shielding you.

 

To everywhere else from this location – freeway, rail, shops, park, schools….. it’s all good.

 

Property – Backyard, brilliant!! Three master bedroom opportunities and a way that allows togetherness for young ones and then separation for older children when sleeping. Living spaces – lots of them and study and quiet and loud places. Although the stairs are slightly narrow, they work, and I like the dual ends….. privacy, convenience, and really makes the upper beds a parents’ retreat.

 

Mal it’s a hotchpotch! Yep, it has that flavour………but some hotchpotches have character and make you feel a whole lot better than bland, bland, and more bland from a reno on a budget or an architect after an award. This reno ages well already…..this home works now and will continue to do in the decades to come.

 

And to Price…… it’s easy, whatever makes sense it will go for more, and it will do that because of street history, home feel, and the current price indication is designed to attract, not inform. Others will like this home as well and they will continue to like it in any market……this is a great family home.

'Round the Auction Grounds This Week

Biggest Auction: Almost $2m over reserve - but who is this guy?

KEW, 10 Lytton Street SOI: $6,150,000 - $6,750,000 Sales agent: Nick Ptak of Marshall White Crowd: 100 Opening Bid: $6,100,000 On market: $6,750,000 Under Hammer: $8,600,000 Bidders: 3 Photo: Randall

Fortnight ago

Bidderman
2.0
Stock
Average
Clearance
76%
Auctions Attended
29
Volcanoes
17%
Ducks
14%

Last Week

Bidderman
1.3
Stock
Average
Clearance
53%
Auctions Attended
32
Volcanoes
16%
Ducks
28%

Today 2024 M2 Week 3

Bidderman
1.3
Stock
Average
Clearance
49%
Auctions Attended
39
Volcanoes
8%
Ducks
38%
BRIGHTON, 53 Hanby Street SOI: $3,700,000 - $3,900,000 Sales agent: Guy St Leger - Buxton Crowd: 50 Opening Bid: $3,900,000 VB Passed in: $4,100,000 After auction: $undisc Bidders: 2 Catherine

Difference in TOP END Quarterly Markets

2023M4 Xmas

Bidderman

1.4

Stock

LOW

Clearance

58%

2024M1 Open

Bidderman

1.4

Stock

GOOD

Clearance

63%

2024M2 May

Bidderman

1.5

Stock

GOOD

Clearance

59%

Difference in TOP END Geographical Markets

Inner East has returned to be the strongest market

2024M2 BAYSIDE

Bidderman
1.1
Stock
Average
Clearance
60%

2024M2 BOROONDARA

Bidderman
2
Stock
Average
Clearance
60%

2024M2 STONNINGTON

Bidderman
0.9
Stock
Average
Clearance
45%
STONNINGTON

2024 M1 Opening Market​

Bidderman
1.3
Stock
Average
Clearance
64%

2024 M2 May Market

Bidderman
0.9
Stock
Low
Clearance
45%
PRAHRAN, 50 Lewisham Road SOI: $2,500,000 - $2,700,000 Crowd: 20 Opening Bid: $2,500,000 VB Passed in: $2,500,000 VB Bidders: 0 Photo: Kathy

Stonnington Week 3 – 11 auctions

Clearance: 45%

Bidderman: 0.9

 

 

Overall – 18 auctions

Clearance: 44%

Bidderman: 1.1

 

 

MALVERN EAST, 13 Devonshire Road

SOI: $2,000,000 – $2,200,000

Sales Agent: Hugh Tomlinson – Marshall White

Before auction: $undisc

Bidders: 1

 

MALVERN EAST, 10 Nott Street

SOI: $3,750,000 – $4,000,000

Sales Agent: James Tomlinson – Marshall White

Before auction: $undisc

Bidders: 1

 

 

ARMADALE, 10 Hume Street

SOI: $3,250,000 – $3,500,000

Sales agent: David Volpato – Marshall White

Crowd: 20

Opening Bid: $3,250,000 VB

Passed in: $3,250,000 VB

Bidders: 0

The street stood quiet as the auction opened and closed on a vendor bid of $3,250,000

 

MALVERN EAST, 4 Anderson Street

SOI: $3,100,000 – $3,400,000

Sales agent: Kellie O’Neill – Jellis Craig

Crowd: 11

Opening Bid: $3,100,000 VB

Passed in: $3,300,000 VB

Bidders: 0

With a small crowd and no bids, the property was passed in to a vendor bid.  

 

SOUTH YARRA, 19 Hope Street

SOI: $3,500,000 – $3,750,000

Sales agent: Nicholas Brooks – Marshall White

Crowd: 60

Opening Bid: $3,400,000

Passed in: $3,450,000 VB

Bidders: 1

One bidder adds to the opening vendor bid of $3,400,000 but the $50,000 rise isn’t enough to place the property on the market and it is passed in at $3,450,000.

 

TOORAK, 87 Mathoura Road

SOI: $2,800,000 – $3,000,000

Sales agent: Mark Harris – Marshall White

Crowd: 25

Opening Bid: $2,800,000 VB

Passed in: $2,800,000 VB

Bidders: 0

No initial bids were placed from the crowd so Mr long placed a vendor bid of $2,800,000. After a short break speaking with the vendors, he returned encouraging prospective buyers to get involved. With no bids being placed the property was formally passed in at $2,800,000. 

 

PRAHRAN, 50 Lewisham Road

SOI: $2,500,000 – $2,700,000

Sales agent: James McCormack – Marshall White

Crowd: 20

Opening Bid: $2,500,000 VB

Passed in: $2,500,000 VB

Bidders: 0

No one bidding today in Lewisham Street. One potential buyer moved inside for post auction negotiations while the crowd mingled on the street.  

 

ARMADALE, 17 Lambeth Avenue

SOI: $3,000,000 – $3,300,000

Sales agent: Carla Fetter – Jellis Craig

Crowd: 27

Opening Bid: $2,950,000 VB

On market: $3,110,000

Under Hammer: $3,203,000

Bidders: 2

Two relaxed looking bidders, side by side, swiftly traded bids. The property was purchased by Bidder 1 with no need for a mid-auction break 

 

ARMADALE, 6 Sutherland Road

SOI: $2,200,000 – $2,400,000

Sales agent: Carla Fetter – Jellis Craig

Crowd: 30

Opening Bid: $2,250,000 VB

Passed in: $2,310,000

After auction: $2,380,000

Bidders: 2

People sprawled over the wide Armadale Street. After some bidding from the crowd and a half time break, the property passed in.

 

SOUTH YARRA, 26 Albion Street

SOI: $2,000,000 – $2,200,000

Sales agent: Matt Davis – Kay & Burton

Crowd: 20

Opening Bid: $2,000,000

On market: $2,220,000

Under Hammer: $2,335,000

Bidders: 3

Spirited bidding from the crowd led to no half time break and the property selling under the hammer. 

 

MALVERN EAST, 306 Wattletree Road

SOI: $2,450,000 – $2,650,000

Sales agent: John Morrisby – Jellis Craig

Crowd: 15

Opening Bid: $2,350,000 VB

Passed in: $2,350,000 VB

Bidders: 0

A small crowd gathered in the front yard for the auction. Mr Morrisby placed a vendor bid which was matched by the lone bidder. 

BY THE BAY - BAYSIDE & PORT PHILLIP

2024 M1 Opening Market

Bidderman
1.2
Stock
Average
Clearance
64%

2024 M2 May Market

Bidderman
0.7
Stock
Average
Clearance
46%
MIDDLE PARK, 47 Nimmo Street SOI: $3,750,000 - $3,950,000 Sales agent: Nicholas Hoo – Marshall White Crowd: 73 Opening Bid: $3,800,000 On market: $4,275,000 Under Hammer: $4,325,000 Bidders: 2 Photo: Rowena

Bayside Week 3  – 13 auctions

Clearance: 46%

Bidderman: 0.67

 

 

Overall – 42 auctions

Clearance: 60%

Bidderman: 1.1

 

 

BRIGHTON, 8 Byron Street

SOI: $2,600,000 – $2,800,000

Sales Agent: David Hart – Buxton

Before auction: $undisc

Bidders: 1

 

ALBERT PARK, 51 Greig Street

SOI: $3,100,000 – $3,400,000

Sales agent: Nicholas Hoo – Marshall White

Crowd: 100

Opening Bid: $3,100,000 VB

Passed in: $3,150,000 VB

After auction: $3,500,000

Bidders: 1

Nicholas Hoo opens with a vendor bid of $3,100,000. One bidder adds $50,000 and the home is passed in to him for further negotiation.

 

BRIGHTON EAST, 36 Baird Street

SOI: $4,600,000 – $4,800,000

Sales agent: Matthew Pillios – Kay & Burton

Crowd: 70

Opening Bid: $4,600,000 VB

Passed in: $4,650,000

Bidders: 1

A single bid was enough to be ushered inside.

 

HAMPTON, 100 Orlando Street

SOI: $3,000,000 – $3,300,000

Sales agent: Andy Nasr – Marshall White

Crowd: 50

Opening Bid: $3,100,000 VB

Passed in: $3,100,000 VB

Bidders: 0

Potential bidders held back and watched this one pass in on the opening vendor bid.

 

SOUTH MELBOURNE, 361 Conventry Street

SOI: $2,750,000 – $2,950,000

Sales agent: Oliver Bruce – Marshall White

Crowd: 67

Opening Bid: $2,800,000 VB

Passed in: $2,825,000

After auction: $undisc

Bidders: 1

This charming house that had started it’s life as a hotel in the heart of South Melbourne  was opened on a vendor bid of $2,800,000. Although there was considerable interest during the inspection period, the property passed in at $2,825,000 with only one bid.

 

MIDDLE PARK, 47 Nimmo Street

SOI: $3,750,000 – $3,950,000

Sales agent: Nicholas Hoo – Marshall White

Crowd: 73

Opening Bid: $3,800,000

On market: $4,275,000

Under Hammer: $4,325,000

Bidders: 2

A strong opening  bid of $3.8M started things off before 2 bidders competed to see  the property being sold for $4.325M

 

HAMPTON, 1 Favril Street

SOI: $2,800,000 – $2,950,000

Sales agent: Jenny Dwyer – Belle

Crowd: 25

Opening Bid: $2,800,000 VB

Passed in: $2,800,000 VB

Bidders: 0

Without crowd participation, the property was passed in.

 

MIDDLE PARK, 66 Hambleton Street

SOI: $2,300,000 – $2,500,000

Sales agent: Oliver Bruce – Marshall White

Crowd: 42

Opening Bid: $2,400,000 VB

Passed in: $2,400,000 VB

Bidders: 0

The auction of this charming single fronted Victorian house in Middle Park, opened on a vendor bid of $2.4M. The lack of bids led to the property being passed in on the same bid. 

 

HAMPTON, 59 Crisp Street

SOI: $4,600,000 – $4,900,000

Sales agent: Jenny Dwyer – Belle

Crowd: 25

Opening Bid: $4,600,000 VB

Passed in: $4,600,000 VB

Bidders: 0

A small group gather on the front lawn to watch the auction. Steve Tickell from Belle Property opens and closes the bidding with just the one vendor bid of $4,600,000.

 

BRIGHTON, 53 Hanby Street

SOI: $3,700,000 – $3,900,000

Sales agent: Guy St Leger – Buxton

Crowd: 50

Opening Bid: $3,900,000 VB

Passed in: $4,100,000

After auction: $undisc

Bidders: 2

Guy St Leger opens the bidding with a vendor bid of $3,900,000 and two bidders soon join in. They take the bidding to $4,100,000 and the home is passed in for further negotiation.

 

 

ALBERT PARK, 28 Dinsdale Street

SOI: $2,600,000 – $2,800,000

Sales agent: Oliver Bruce – Marshall White

Crowd: 39

Opening Bid: $2,700,000

Passed in: $2,700,000

After auction: $undisc

Bidders: 1

The auction of this double fronted Victorian home in the sought-after suburb of Albert Park took place in front of a modest crowd.  Despite its appealing features and prime location, the auction witnessed limited engagement from potential buyers and was passed in on a single bid $2.7million

 

BRIGHTON, 146 Cochrane Street

SOI: $2,600,000 – $2,800,000

Sales agent: John Clarkson – Buxton

Crowd: 30

Opening Bid: $2,600,000 VB

Passed in: $2,600,000 VB

Bidders: 0

No crowd action resulted in the property being passed in on a vendor bid.

 

ELWOOD, 49 Shelley Street

SOI: $2,900,000 – $3,100,000

Sales agent: Torsten Kasper – Chisholm & Gamon

Crowd: 50

Opening Bid: $2,950,000 VB

Passed in: $3,000,000

Bidders: 0

Torsten Kasper opened with a vendor bid of $2,950,000, adds to it with a further vendor bid of $3,000,000 and closes the auction looking for interest in a more private setting.

Shelter by the bay Buyer Bank

We have a growing buyer pool at Shelter ByThe Bay. We are looking for homes for these buyers.

HAMPTON GOLDEN TRIANGLE: Looking for family home, budget $8m to $9m, land over 1400 sqm or room for a court.

HAMPTON: Looking for family home, budget $3m to $4m.

Brighton: Looking for family home - modern contemporary, can be a little dated, budget $8m.

Brighton: Looking for family home - modern contemporary, up to $12m.

BRIGHTON EAST: Local family loooking for a ready to move in bigger home with a budget of $5m - needs to be close to schools.

BRIGHTON EAST: Move in bigger home with a budget up $8m - Marriage Road Precinct.

BOROONDARA

2024 M1 Opening Market​

Bidderman
1.8
Stock
Average
Clearance
61%

2024 M2 May Market

Bidderman
2
Stock
Average
Clearance
60%
HAWTHORN, 41 Chrystobel Crescent SOI: $6,500,000 - $7,000,000 Sales agent: Desiree Wakim – Marshall White Crowd: 78 Opening Bid: $6,600,000 Passed in: $6,850,000 After auction: $undisc Bidders: 2 Randall

Boroondara Week 3 – 15 auctions

Clearance: 60%

Bidderman: 2

 

Overall – 40 auctions

Clearance: 54%

Bidderman: 1.97

 

GLEN IRIS, 18 Britten Street

SOI: $2,700,000 – $2,900,000

Sales Agent: Fiona Ansell-Jones

Before auction: $undisc

Bidders: 1

 

SURREY HILLS, 8 Neath Street

SOI: $4,280,000 – $4,680,000

Sales Agent: Helen Yan – Ray White

Before auction: $undisc

Bidders: 1

 

HAWTHORN, 79 Manningtree Road

SOI: $2,700,000 – $2,900,000

Sales agent: Campbell Ward – Jellis Craig

Crowd: 50

Opening Bid: $2,700,000

On market: $3,000,000

Under Hammer: $3,250,000

Bidders: 3

At 10am sharp, the first bidder offered $2,700,000 – by 10:08am the hammer had come down, as a result of three bidders duking it out at a rapid fire pace, with the sale price being $3,250,000.

 

KEW, 10 Lytton Street

SOI: $6,150,000 – $6,750,000

Sales agent:

Crowd: 100

Opening Bid: $6,100,000

On market: $6,750,000

Under Hammer: $8,600,000

Bidders: 3

A big crowd, some big time bidding and street theatre made this an engaging auction. Blew well past the reserve.

 

 

HAWTHORN EAST, 3 Deanlea Court

SOI: $2,700,000 – $2,900,000

Sales agent: Grant Samuel – Kay & Burton

Crowd: 33

Opening Bid: $2,800,000

On market: $3,210,000

Under Hammer: $3,365,000

Bidders: 4

Four bidders revealed themselves at this head of the court position auction. Two carried it on the market and tussled until the last.

 

HAWTHORN, 8 The Boulevard

SOI: $3,600,000 – $3,900,000

Sales agent: Chris Daly – Jellis Craig

Crowd: 80

Opening Bid: $3,600,000

On market: $4,010,000

Under Hammer: $4,060,000

Bidders: 5

The bidding began with a $3,600,000 and was quickly followed by a bid of $3,650,000. Bids between the two parties continued until a 3rd bidder joined the race. A quick break took place with the bid at $3,880,000. Once Mr Ward returned the 4th and 5th bidders began placing quick bids ranging from $1,000 – $8,000. The property was finally sold under the hammer for $4,060,000.

CAMBERWELL, 19 Avenue Road

SOI: $2,050,000 – $2,250,000

Sales agent: Toby Parker – Belle

Crowd: 30

Opening Bid: $2,100,000 VB

Passed in: $2,100,000 VB

Bidders: 0

This auction started off quiet, and remained so throughout from auctioneer Toby Parker’s opening vendor bid; resulting in a pass-in.

GLEN IRIS, 8 Nyora Road

SOI: $3,600,000 – $3,900,000

Sales agent: Julian Badenach – Woodards

Crowd: 40

Opening Bid: $3,500,000 VB

Passed in: $3,500,000 VB

Bidders: 0

To start proceedings a vendor bid of $3,500,000  was placed, after a short break speaking with the vendors, and with no bids to follow, the property was quickly after passed in at $3,500,000.

SURREY HILLS, 6 Middlesex Road

SOI: $3,950,000 – $4,300,000

Sales agent: Mike Beardsley – Jellis Craig

Crowd: 75

Opening Bid: $4,200,000 VB

Passed in: $4,300,000 VB

Bidders: 0

It seems that the large crowd came to catch some autumn sun, not to place bids. The property was passed in and the crowd reluctantly dispersed. 

 

CAMBERWELL, 13 St Johns Avenue

SOI: $3,100,000 – $3,400,000

Sales agent: Anthony Smith – Marshall White

Crowd: 60

Opening Bid: $3,100,000 VB

Passed in: $3,100,000 VB

Bidders: 0

Auctioneer Anthony Smith tried to encourage the crowd by opening with a vendor bid of $3,100,000, however this wasn’t enough to spark bidding activity, therefore the property was passed in. 

 

HAWTHORN, 40 Illawarra Road

SOI: $3,500,000 – $3,800,000

Sales agent: Scott Patterson – Kay & Burton

Crowd:100

Opening Bid: $3,500,000

Passed in: $3,610,000

After auction: $undisc

Bidders: 1

Straight out of the gate, bidder 1 spoke up with $3,500,000, to a quiet crowd, so auctioneer Scott Patterson pitched in a vendor bid of $3,600,000. Apart from a $10,000 rise from the initial bidder, no further activity ensued, resulting in the property being passed in. 

 

HAWTHORN, 41 Chrystobel Crescent

SOI: $6,500,000 –  $7,000,000

Sales agent: Desiree Wakim – Marshall White

Crowd: 78

Opening Bid: $6,600,000

Passed in: $6,850,000

After auction: $undisc

Bidders: 2 

Two bidders battled from the $6,600,000 opening bid. The lead buyer wanted to know if it was on the market at $6,820,000. It wasn’t and passed in to them soon after.

 

CANTERBURY, 50 Faversham Road

SOI: $3,500,000 – $3,850,00

Sales agent: Elsa Li – Buxton

Crowd: 40

Opening Bid: $3,300,000

Passed in: $3,345,000

Bidders: 2

An initial bid of $3,300,000 was placed and soon after a $25,000. The first bidder placed an additional $10,000 bid. The final offer of the auction from the second bidder for $3,345,000, the property was then passed at this price. 

 

KEW, 6 Dean Street

SOI: $3,000,000 – $3,300,000

Sales agent: Sophie Su – Kay & Burton

Crowd: 0

Opening Bid: $3,000,000 VB

On market: $3,460,000

Under Hammer: $3,990,000

Bidders: 7

The $3,000,000 opening vendor bid seemed to belie the bidding war that was to come, with no less than seven bidders duking it out for the keys to this property, declared on the market at $3,460,000 and the hammer coming down at $3,990,000

 

BALWYN, 18 Chatfield Avenue

SOI: $5,500,000 – $6,050,000

Sales agent: Annabelle Feng – RT Edgar

Crowd: 78

Opening Bid: $5,400,000 VB

Passed in: $6,270,000

Bidders: 2

HAMPTON CLASSIC HOME FOR SALE NOW

4 Bedrooms, 3 Bathrooms, 2 Car Spaces

women in Bayside real estate who are making a difference

Shelter By The Bay: Simone Clarke (0400 304 111) Zali Reynolds (0422 576 049)

Two of Melbourne’s top real estate agents are working in Bayside. Congrats to Matthew Pillios of Kay and Burton at no 2 and perhaps even more impressive, as she is not one of the corporate big boys, at No 5 is Zali Reynolds of Shelter Real Estate. The full article can be found in Herald Sun May 17th – author Nathan Mawby. Congrats to the rest of the Top 5, great agents whom we have bought off a number of times Helen Yan, Carla Fetter and Sam Rigopoulos. 

Definitions & Data Points

SOUTH YARRA, 26 Albion Street SOI: $2,000,000 - $2,200,000 Sales agent: Matt Davis – Kay & Burton Crowd: 20 Opening Bid: $2,000,000 On market: $2,220,000 Under Hammer: $2,335,000 Bidders: 3 Photo: Phoebe