James Buy Sell Market News with Off Markets every Monday
Three “Warren Buffett” Investments for 2024-2032?
Big Period Residential
Brighton
1758sqm
Storage Development
Hawthorn
2024sqm
Big Period Day Surgery
Richmond
1024sqm
Mal James
Buy Sell Agent
0408 107 988
mal@james.net.au
Navigating Melbourne’s Current Top-End Property Market.
Today’s market feels reminiscent of 2014. We’ve seen a period of stagnation, and now, people are becoming a little apprehensive, especially at the Top End. In times like these, price becomes the key focus—stronger than any brand or marketing effort.
Buyers are looking for a bargain, but the question remains: what exactly is a bargain?
If Warren Buffett were shopping for a Top End Melbourne home, his advice would be clear:
Rule #1: Don’t lose money.
Rule #2: Re-read Rule #1.
Here’s a breakdown of what that may mean in today’s market, couched in our PPPs and with apologies if I am putting words into Warren’s mouth:
1. Intrinsic Value - Price
Buffett would tell you to buy below intrinsic value. With Melbourne’s market cooling, some properties are temporarily undervalued due to broader economic factors. These could be your golden opportunity.
“Price is what you pay. Value is what you get.” W.B.
In real estate, this could mean identifying properties where the market price is temporarily below the long-term potential value, offering an opportunity to buy at a discount.
Intrinsic value refers to the true, underlying worth of an home, independent of its current market price. It is based on factors such as future PPPs (Price, Property and Position) – the asset’s fundamental qualities. Investors like Warren Buffett use intrinsic value to determine whether an asset is undervalued or overvalued relative to its market price.
2. Position Still Reigns Supreme
Buffett is a firm believer in location. Focus on Melbourne’s areas with enduring demand and growth potential. It’s the classic inner-suburb vs. fringe battle, and history has shown that inner areas like Toorak, Hawthorn, Brighton, and Albert Park are resilient.
When buying a property, always think long term. After a downturn, prime locations bounce back far stronger than fringe suburbs.
3. Long-Term Durability of Property
A quality home or Property will stand the test of time. Buffett, I think, would focus on properties with unique, lasting qualities—scarce land, historical charm, or architectural significance. These features give properties staying power in any market.
“Our favourite holding period is forever.” W.B.
You want a home with intrinsic durability, something that will appeal in any market, not just today’s.
James Buy Sell Market News with Off Markets every Monday
4. Risk Management is also a Key
Buffett is known for his conservative approach to risk, and avoiding over-leverage is crucial in a falling market. Financing a top-end home might seem tempting, but keeping debt minimal reduces your exposure to market fluctuations is important.
“You only find out who is swimming naked when the tide goes out.” W.B.
So, what are the good criteria for buying a family home as a property investment?
When it comes to making money real estate, making money on your family home, I think of three foundational elements:
5. Capital Growth, Cash Flow, and Risk.
And for me, it’s all about land.
Land with growth potential reduces your risk while maximising your investment (and it’s fun for the children to run around on).
High Land-to-Price Ratio: The closer to a 100% land value, the better the investment. Apartments, for instance, typically have only 10% land value—the rest is tied to a building that depreciates, like a car losing value the moment you drive it off the lot. Some new homes on smaller land are not much better than apartments regarding investments with capital growth.
Heritage Properties: If the land value approaches 100%, even properties with a heritage overlay can be worthwhile. Large parcels of land are always in demand, especially in an upmarket, and heritage can sometimes mean a built-in discount if you know how to approach it.
Give me a big parcel of heritage land with a home I can live in without renovation over a heritage-free, smaller block of land with a “Balwyn faux special” or a brand-new home of average quality, and the heritage home wins every time for long term value.
Cash Flow and Risk
Residential properties rarely offer great cash flow, so capital growth is where you have to win. So, Warren may be critical of Melbourne’s residential cash flow opportunites.
Back to capital growth. Growth in my mind comes from two key inputs.
- The price you pay (discount or premium) against the long term trend of the PPPs you have chosen AND
- The long-term trend for your PPPs you have chosen
Substantial land parcels tend to be lower risk if your debt-to-price ratio is reasonable.
Show me a 10-year period (barring disaster) where land values have dropped in Australia. Melbourne’s migration-driven demand ensures this trend will continue.
Some Finishing Thoughts
In a market like Melbourne’s Top End, opportunities abound for those who understand value. Whether you’re buying for investment or for your family, the key is recognising intrinsic value, focusing on quality, and avoiding unnecessary risk.
Melbourne Market with what I imagine Warren Buffett would say
Focus on Long-Term Value, Not Market Timing:
Warren Buffett believes that trying to time the market is less important than identifying long-term value in an investment.
He advises buying undervalued assets during downturns and holding them for the long term, stressing that short-term volatility shouldn’t dictate investment decisions.
Buffett’s approach to real estate, in my mind, is clear: buy for value, not for price, and focus on properties that will appreciate over the long haul. If you apply this thinking to your next purchase, you won’t just be chasing a bargain—you’ll be making a smart investment.
Below are properties we bought and sold for clients from 2014 to 2022 and the gains they made. Below are three current opportunities on which we are conjunctional seller advocates that may fit your bill of great properties now and into the future. Will they be $20m+ in 8 years? I’m happy to show you anytime!
2014-2022
Brighton
2951sqm
Land. Heritage.Great Investment
Bought 2014 - $5m
Sold 2022 - $16m
Heritage didn’t affect this brilliant buy and sell. What made this home so successful was the people involved and the size of the rare land.
Toorak
1820sqm
Land. Location. Great Investment
Bought 2014 - $11m
Sold 2022 - $22m
We learnt so much off this couple on how to talk softly and act loudly. They were clinical in their PPP and timing decisions.
2024 - 2032
Brighton Home Brilliant PPPs
1758sqm
Is this home undervalued now, against the long term?
Position: Brighton offers the prestige of Toorak, but without the traffic, noise, and competitive Asian-Australian bidding market. However, this is changing. Increasingly, this market segment is recognizing the appeal of Brighton’s private schools, the beach, less congestion, long term value and overall lifestyle.
Growth: At the turn of the millennium, Toorak and Brighton were both priced at $3,000 per square metre. Today, Toorak has surged to $10,000 per sqm, while Brighton stands at $6,000 per sqm. The Asian-Australian market in Bayside is expanding, driven by two key factors: schools and land prices.
Property: Concerned about heritage restrictions? Don’t be. This home is modern, complete, and stunning, featuring a spacious layout and a tennis court.
18 Asling has all the key attributes of an A-Grade property. Would Warren Buffett call it well below its long-term intrinsic value?
Footnote on Heritage: In our recent report on a Toorak home we sold this week, two Asian-Australian buyers fought it out before auction on a property with a Heritage Overlay, exceeding the quoted price on a land play.
Hawthorn Storage
2024sqm SOI $16,500,000
Big Land. No Land Tax to pay.Location. Great Investment
Matt Nichols 0418 186 488
Warren Buffett would certainly like the position of this investment – highly visible on the main road in a location where storage needs for wine and other things are growing as wealthy humans collect and hold more and more.
But what I think he would also like is the risk and cashflow. Tenanted by a public company with a strong lease of 5 years on circa $600,000 rent and LAND TAX paid by tenant.
Fundamentals – intrinsic value – rule no 1 don’t lose money, all stand out like beacons on this property. So why sell? The current owners are 3 families with children needing help into the property market and as this was given to them, they are carrying on the family tradition.
This feels like a rock-solid investment in any market, and Warren may be attracted to its intrinsic value, but unlike most high-end homes, it may also be attractive from a cash flow point of view.
Richmond Home or Hospital
1024sqm
Big Land. Epworth. Medical Permits. Develop.
Mal James 0408 107 988
I’m not so sure this would be Warren’s favourite of the three, as his principle is to “only buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.” (Warren Buffett)
In this case, I think the investment could not be run by an idiot and would need to rely more on his other fundamental rule of risk management:
“The first rule of an investment is don’t lose money. And the second rule is don’t forget the first rule.”
Buffett would likely avoid over-leveraging in a falling property market and focus on investments that minimise financial risk while preserving capital.
What does that mean here? This is a site with major potential, but with so many options, due diligence is for the thinking person.
BUT…
- This is one of Richmond’s larger land holdings—over 1000 sqm—with front and rear access and multi-level car parks (STCA).
- There are existing permits for four doctors’ offices, but with new health regulations near transport hubs, the potential could be much greater (STCA). Could it become a day hospital? Surgeon’s rooms?
- Just a few hundred meters from Epworth Hospital, ensuring demand is locked in for decades.
- Or could this be a magnificent home site? It’s in a residential zone with views of the city, MCG, and parklands that are unlikely to be obstructed. Yes, it’s heritage, but that adds to its value with its huge rooms, and it’s perfectly positioned on the southeast corner, allowing for major development at the back with north-facing light streaming in.
So, what would Warren think?
Buffett recognises the importance of investing in assets with long-term desirability, but I think another American sums up this Richmond real estate play best in a world of scams, half-truths, and missed opportunities:
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is the safest investment in the world.” – Franklin D. Roosevelt.
'Round the Auction Grounds
2024M3 Spring 2nd Week of 100 Auction Test Market
BIGGEST AUCTION TODAY: Huddled under umbrellas, the crowd was eager for a quick result. After an opening vendor bid, two bidders made themselves known. The exchange stalled at $6,000,000 when Bidder 1 fell silent. Passed in. Sold after.
LONE VOLCANO: This land proposition attracted competition with four bidders jumping in at various points. A couple of knock out bids didn’t work for Bidder two but they held firm against their opponent and notched a victory with their final $5000 rise.
Simone Clarke
Buy Sell Agent
0400 304 111
simone@james.net.au
Welcome. I have worked with Mal for over 16 years, and yes, I’ve heard all the jokes about time served. My role is buying and selling and behind-the-scenes market intel.
So whilst he was out (to use one of his words) galivanting around with a full book of clients doing private inspections on off-markets and EOIs, we (meaning our team of 10: Catherine, Ellen, Hannah, Jo, Kathy, Kieran, Phoebe, Randall, and Rowena) were busy turning up and reporting the results of 46 auctions, spread equally across Boroondara, Stonnington, and By the Bay.
46 of our 3-week, 100-auction test (Spring 2024M3) were monitored today, so what you see below is a scientific and solid cross-section of the upper end of the Melbourne market. The market continues to do it tough, with Boroondara, Melbourne’s high-end auction engine room, spluttering with the choke full out the most. (Sorry, when you’ve worked with him for so long, you start to sound like him).
• Snapshot: Chilly Auctions and a Cold Front in Real Estate
- 1 Volcano out of 46 auctions – wow!
- Clearance rate weakening – down to borderline cold again @ 61% and Bidderman is also borderline chilly.
- 22% of all auctions sold before, that’s 1 in 5. Both our James Buy Sell auctions in Hampton (with Zali Reynolds Shelter by the Bay) and Toorak (with Chris Barrett and Andrew Gibbons) sold before.
- Only 2 out of 14 auctions in Boroondara had street competition today. Boroondara is falling the hardest.
- 8 out of 18 auctions by the bay had street competition today. Bayside had a good spread of bidders compared to this year as a whole.
- 7 out of 14 auctions in Stonnington had street competition today. Stonnington is the strongest auction area currently, but it’s still a little flakey!
- In total, only 17 of the 46 auctions had street competition today. This means 6 in 10 auctions had no competitive bidding on the street today. Mmmmm.
- Quoting – we think only 12 auctions exceeded the quote. That’s 1 in 4. That means 3 in 4 got less than the top of the quote or didn’t sell. Mmmmm.
• Summary: The higher you go up the food chain, the thinner the bidder numbers
Melbourne Top End
Stonnington – Week 2 (14 auctions)
Clearance: 71%
Bidderman: 1.64
Week 1 and 2 (21 auctions)
Clearance: 71%
Bidderman: 1.57
TOORAK – Method Change
MALVERN EAST, 23 Rothesay Avenue
Agent: Lachie Fraser-Smith – Jellis Craig
SOI: $2,000,000 – $2,200,000
Before auction: $undisc
TOORAK, 41 Power Street
Agent: Chris Barrett – Marshall White
SOI: $4,200,000 – $4,600,000
Before auction: $undisc
MALVERN, 28 Euston Street
Agent: Carla Fetter – Jellis Craig
SOI: $3,000,000 – $3,100,000
Crowd: 25
Opening Bid: $2,900,000 VB
On the Market: $3,200,000
Under the Hammer: $3,400,000
Bidderman: 3
Escaping the rain, the crowd gathered around the kitchen, after a quick vendor bid to get the ball rolling, 2 bidders quickly joined in and third a bit later. The property sold under the hammer to bidder 2.
MALVERN EAST, 25 Summerhill Avenue
Agent: Fiona Ansell-Jones – Marshall White
SOI: $2,900,000 – $3,050,000
Crowd: 38
Opening Bid: $2,900,000 VB
Passed in: $3,100,000
Sold After: $undisc
Bidderman: 3
After opening on a vendor bid and asking for a $25,000 rise Auctioneer John Manton was met with silence. Disappointed with the lack of crowd participation Mr Manton accepted a bid of $10,000. Suddenly a flurry of bidding occurred between 2 bidders and then a third. When bidding stalled at $3,100,000, the property was passed in to Bidder 1 for private negotiations. Sold after.
TOORAK, 81 Mathoura Road
Agent: Gowan Stubbings – Kay & Burton
SOI: $3,800,000 – $4,180,000
Crowd: 10
Opening Bid: $3,800,000 VB
Passed in: $3,810,000
Sold After: $undisc
Bidderman: 1
A small crowd gathered inside, with what looked to be a pass in auction with no bidding. However 1 bidder popped their hand up at the last minute after a half time break, and the property was passed into them. Sold after.
MALVERN EAST, 60-62 Finch Street
Agent: Rae Tomlinson – Marshall White
SOI: $4,000,000 – $4,400,000
Crowd: 48
Opening Bid: $4,000,000 VB
On the Market: $4,415,000
Under the Hammer: $undisc
Bidderman: 2
Chilly weather and a slow start in Finch Street. Opening on a vendor bid, Auctioneer John Manton had two bidders who slowly exchanged bids. After a quick break inside to chat with the vendors, Mr Manton returned with the news that we were close, but not yet on the market. Once the reserve price was reached, the bidding pace increased with Bidder one reigning supreme.
WINDSOR, 26 Ann Street
Agent: Scott Banks – Scott Banks Real Estate
SOI: $2,250,000 – $2,475,000
Crowd: 16
Opening Bid: $1,750,000
On the Market: $2,700,000
Under the Hammer: $2,900,000
Bidderman: 3
An opening bid was placed at $1,750,000, which was swiftly met by a second bidder with a bid of $2,000,000. A third bidder entered the race and a bidding war ensued between the first and third bidder. At one point the third bidder declared she would “need a second job” as she continued her relentless pursuit of the property. Mr Banks declared the property was on the market at $2,700,000 after consulting with the vendors. Eventually the first bidder purchased the property under the hammer for $2,900,000.
MALVERN, 2 McArthur Street
Agent: Carla Fetter – Jellis Craig
SOI: $2,200,000 – $2,400,000
Crowd: 30
Opening Bid: $2,300,000 VB
Passed in: $2,325,000
Sold After: $undisc
Bidderman: 1
A young couple for their hand up to be in the box position to negotiate price after the property passed into them. Sold after.
MALVERN, 26 Winter Street
Agent: Rae Tomlinson – Marshall White
SOI: $5,000,000 – $5,500,000
Crowd: 60
Opening Bid: $5,000,000 VB
Passed in: $5,050,000
Sold After: $undisc
Bidderman: 1
After attempting to bid $10,000 and having it rejected by the auctioneer, the lone bidder eventually met the minimum $50,000 bid and the property was passed into him. Sold after.
MALVERN EAST, 50 Emo Road
Agent: Jack Moss – Marshall White
SOI: $2,400,000 – $2,600,000
Crowd: 80
Opening Bid: $2,400,000 VB
Passed in: $2,600,000
Sold After: $2,670,000
Bidderman: 3
Three bidders inched toward the reserve price, but failed to cross the line. Auctioneer Andrew Hayne passed the property in to the highest bidder and negations continued behind closed doors. Sold after.
MALVERN, 10 Soudan Street
Agent: Carla Fetter – Jellis Craig
SOI: $4,800,000 – $5,200,000
Crowd: 35
Opening Bid: $4,800,000 VB
Passed in: $4,810,000
Bidderman: 1
Outdoor auction in the spitting rain, lots of umbrellas and raincoats, but as the sun came out so did 1 single bid and the property was passed in.
MALVERN, 13 Evandale Road
Agent: David Volpato – Marshall White
SOI: $2,100,000 – $2,300,000
Crowd: 19
Opening Bid: $2,100,000 VB
Passed in: $2,200,000
Bidderman: 2
Auctioneer Joseph Ben-Danan welcomed a crowd of 19 to the auction of 13 Evandale Road, Malvern. Mr Ben-Danan opened the bidding placing a vendor bid of $2,100,000. This bid was met by a first bidder who was quickly joined by a second. The property was passed in to the first bidder for $2,200,000.
MALVERN EAST, 9 Oak Grove
Agent: Ash Howarth – Marshall White
SOI: $2,300,000 – $2,500,000
Crowd: 30
Opening Bid: $2,000,000 VB
Passed in: $2,025,000
Bidderman: 1
After opening with a vendor bid of $2 million and receiving only one bid, Auctioneer Daniel Wheeler passed in the property. Negotiations moved inside.
Bayside – Week 2 (18 auctions)
Clearance: 56%
Bidderman: 1.27
Week 1 and 2 (30 auctions)
Clearance: 60%
Bidderman: 1.36
ALBERT PARK, 49 Greig Street
Agent: Oliver Bruce
SOI: $3,200,000 – $3,500,000
Before auction: $undisc
ELWOOD, 2 Coleridge Street
Agent: Ben Khong – Chisholm & Gamon
SOI: $2,750,000 – $2,950,000
Before auction: $undisc
HAMPTON, 5 Poole Avenue
Agent: Michael Martin – RT Edgar
SOI: $2,200,000 – $2,300,000
Before auction: $undisc
ALBERT PARK, 245 Bridport Street
Agent: Simon Gowling – Jellis Craig
SOI: $5,500,000 – $5,950,000
Crowd: 30
Opening Bid: $5,500,000 VB
Passed in: $6,000,000
Sold After: $6,200,000
Bidderman: 2
Huddled under umbrellas, the crowd was eager for a quick result. After an opening vendor bid, two bidders made themselves known. The exchange stalled at $6,000,000 when Bidder 1 fell silent. The property was passed in. Sold after.
ST KILDA, 10a Robe Street
Agent: Nicole Prime – McGrath
SOI: $2,750,000 -$2,900,000
Crowd: 18
Opening Bid: $2,850,000 VB
Passed in: $2,850,000 VB
Bidderman: 0
The property at 10A Robe Street, St Kilda had a crowd of 18 attend the auction. Auctioneer Josh Sterling placed a vendor bid of $2,850,000 to begin the auction. With no bids Mr Sterling took a short break. Soon after returning and encouraging a bid the property was passed in at $2,850,000
BRIGHTON, 22 Whyte Street
Agent: Rina Ma – Fredman
SOI: $3,200,000 – $3,450,000
Crowd: 26
Opening Bid: $3,100,000 VB
Passed in: $3,370,000
Sold After: $3,450,000
Bidderman: 2
A vendor bid opened proceedings before 2 interested parties placed several bids in $10,000 increments. Unfortunately this was not sufficient seeing the property pass in at $3,370,000. Sold after.
BRIGHTON, 17 Pearson Street
Agent: Simone Chin – Atria
SOI: $2,200,000 – $2,300,000
Crowd: 20
Opening Bid: $2,350,000 VB
Passed in: $2,350,000 VB
Sold After: $undisc
Bidderman: 0
About 20 people cluster in the front room but the home is passed in at $2,350,000 on a vendor bid. Sold after.
HAMPTON, 12 Storey Avenue
Agent: Angus Graham – Hodges
SOI: $2,700,000 – $2,900,000
Crowd: 40
Opening Bid: $2,700,000 VB
On the Market: $2,960,000
Under the Hammer: $2,990,000
Bidderman: 2
A super-quick auction which the attendees appreciate in the cold weather. Bidder 1 jumps in after the opening vendor bid of $2,700,000 and in short order we have sailed past the reserve of $2,960,000 and the home is sold to tenacious bidder 1 at $2,990,000 who is the quickest shopper of all time; auction over and done with in about three minutes
BLACK ROCK, 4 McGregor Avenue
Agent: Nick Jones – Hodges
SOI: $2,300,000 – $2,400,000
Crowd: 60
Opening Bid: $2,300,000
On the Market: $2,450,000
Under the Hammer: $2,620,000
Bidderman: 3
A crowd bid opened the auction that saw 3 interested parties place bids in rapid succession. The property was sold for $2,620,000
ELWOOD, 117 Ruskin Street
Agent: Kaine Lanyon – Marshall White
SOI: $2,400,000 – $2,600,000
Crowd: 28
Opening Bid: $2,400,000 VB
Passed in: $2,535,000
Bidderman: 2
28 people attend the auction. Auctioneer Kaine Lanyon begun the auction with a vendor bid of $2,400,000. A bid of $2,425,000 was placed and with no other bids Mr Lanyon took a short break. Soon after returning a second bidder entered the race. After bidding back and forth the property was passed into the initially bidder at $2,535,000.
BRIGHTON EAST, 26 Binne Street
Agent: Todd Newton – Belle
SOI: $2,800,000 – $3,000,000
Crowd: 38
Opening Bid: $2,800,000
Passed in: $3,000,000
Sold After: $3,100,000
Bidderman: 3
The bidding for this 3 bedroom home opened at 2.8m and were fast paced but short lived with the property being passed in at $3,000,000. Sold after.
HAMPTON, 9 Villeroy Street
Agent: Angus Graham – Hodges
SOI: $3,000,000 – $3,300,000
Crowd: 100
Opening Bid: $3,000,000
On the Market: $3,325,000
Under the Hammer: $3,355,000
Bidderman: 2
Quite a crowd of around 100 rugged up people brave the iciest of winds as two bidders vie for the keys at Villeroy street. Angus Graham accepts an opening bid of $3,000,000 and trades with a second bidder past a quick visit inside and the reserve of $3,325,000. Sold to the first bidder under the hammer for $3,355,000
ALBERT PARK, 118 Beaconsfield Pde
Agent: Simon Gowling – Jellis Craig
SOI: $3,500,000 – $3,750,000
Crowd: 30
Opening Bid: $3,500,000
Passed in: $3,600,000 VB
Bidderman: 1
Indoor auction to avoid the rain. A genuine opening bid was raised by a vendor bid, resulting in a vendor pass at $3,600,000.
MIDDLE PARK, 123 Wright Street
Agent: Simon Carruthers – Cayzer
SOI: $3,950,000 – $4,340,000
Crowd: 10
Opening Bid: $4,000,000 VB
Passed in: $4,000,000 VB
Bidderman: 0
Opened and closed on a vendor bid of $4,000,000.
SANDRINGHAM, 4 Minnie Street
Agent: Angus Graham – Hodges
SOI: $3,500,000 – $3,700,000
Crowd: 40
Opening Bid: $3,500,000
Passed in: $3,550,000
Bidderman: 1
Just one bid right at the end of the auction advanced the opening $3,500,000 bid an extra $50,000, but it was not enough to make the sale and the 40 people scuttled back into their warm cars
BLACK ROCK, 61 First Street
Agent: Alex Schiavo – Kay & Burton
SOI: $3,300,000 – $3,500,000
Crowd: 10
Opening Bid: $3,150,000 VB
Passed in: $3,150,000 VB
Bidderman: 0
A quick auction with only about 10 people in attendance in freezing conditions. An opening and closing vendor bid of $3,150,000
ALBERT PARK, 16 Greig Street
Agent: Oliver Bruce – Marshall White
SOI: $5,250,000 – $5,750,000
Crowd: 60
Opening Bid: $5,500,000
Passed in: $5,870,000
Bidderman: 2
Bidder 1 kicked the auction off. After battling with a decisive Bidder 2, and two vendor referrals, the bid decreased to a $20,000 raise. Suddenly, the decisive Bidder 2 shakes his head and the property is passed in to Bidder 1.
BRIGHTON, 111 Male Street
Agent: Matthew Pillios – Kay & Burton
SOI: $2,750,000 – $2,900,000
Crowd: 19
Opening Bid: $2,950,000 VB
Passed in: $2,950,000 VB
Bidderman: 0
Auctioneer Matthew Pillios welcomed 19 people to the auction on Male Street, Brighton. Mr Pillios started off the auction with a vendor bid of $2,950,000 and encouraged further bidding. With no bids placed the property was formally passed in at $2,950,000.
Boroondara – Week 2 (14 auctions)
Clearance: 57%
Bidderman: 1.21
Week 1 and 2 (28 auctions)
Clearance: 61
Bidderman: 1.32
HAWTHORN EAST, 1&2/114 Harcourt Street
Agent: James Tostevin – Marshall White
SOI: $3,200,000 – $3,500,000
Before auction: $undisc
KEW, 46 Parkhill Road
Agent: Nick O’Halloran – Jellis Craig
SOI: $3,300,000 – $3,600,000
Before auction: $undisc
DEEPDENE, 11 Campbell Road
Agent: Scott Patterson – Kay & Burton
SOI: $3,200,000 -$3,500,000
Before auction: $undisc
CAMBERWELL, 3 Brynmawr Road
Agent: James Tostevin – Marshall White
SOI: $2,700,000 – $2,900,000
Before auction: $undisc
SURREY HILLS, 3 Wells Street
Agent: Helen Yan – Ray White
SOI: $4,950,000 – $5,400,000
Before auction: $undisc
GLEN IRIS, 30 Audrey Crescent
Agent: Steve Burke – Belle
SOI: $2,300,000 – $2,500,000
Crowd: 16
Opening Bid: $2,250,000 VB
Passed in: $2,250,000 VB
Bidderman: 0
Auctioneer Steve Burke opened with a $2,250,000 vendor bid; however, no one spoke up, resulting in the property being passed in on this initial vendor bid.
CAMBERWELL, 21 Cochran Avenue
Agent: Scott Patterson – Kay & Burton
SOI: $3,100,000 – $3,400,000
Crowd: 50
Opening Bid: $3,200,000
On the Market: $3,650,000
Under the Hammer: $3,810,000
Bidderman: 4
This land proposition attracted competition with four bidders jumping in at various points. A couple of knock out bids didn’t work for Bidder two but they held firm against their opponent and notched a victory with their final $5000 rise.
CAMBERWELL, 1 Broadway
Agent: Jonathon O’Donoghue – Jellis Craig
SOI: $2,700,000 – $2,865,000
Crowd: 30
Opening Bid: $2,700,000
On the Market: $2,865,000
Under the Hammer: $2,890,000
Bidderman: 3
Straight out of the gate, three bidders were competing for the keys to this property; ten minutes later, the winner walked away jubilant, after their final bid of $2,890,000 brought the hammer down.
HAWTHORN, 67 Illawarra Road
Agent: Campbell Ward – Jellis Craig
SOI: $4,000,000 – $4,400,000
Crowd: 23
Opening Bid: $4,000,000 VB
Passed in: $4,060,000
Sold After: $undisc
Bidderman: 1
Auctioneer Campbell Ward referenced land in Scotch Hill at $5,500-$6000 per square metre to be considered. A couple of vendor bids were placed before a single bidder added $10,000 to the vendor bid of $4,050,000 and set off to negotiate the vendors reserve at pass in. Sold after.
HAWTHORN EAST, 7 Daniel Court
Agent: Shamit Verma – Marshall White
SOI: $4,800,000 – $5,200,000
Crowd: 35
Opening Bid: $4,500,000
Passed in: $4,800,000 VB
Bidderman: 1
A low offer of $4,500,000 was waved away by auctioneer Hamish Tostevin as he placed a $4,800,000 vendor straight on top. No further action was to take place.
CAMBERWELL, 7 Sefton Place
Agent: Campbell Ward – Jellis Craig
SOI: $3,850,000 – $4,200,000
Crowd: 20
Opening Bid: $4,000,000 VB
Passed in: $4,000,000 VB
Bidderman: 0
Silence was the backdrop to this auction, after auctioneer Campbell Ward’s opening vendor bid of $4,000,000, at which the property was also passed in.
CANTERBURY, 28 Stanley Grove
Agent: Sophie Su – Kay & Burton
SOI: $4,000,000 – $4,400,000
Crowd: 34
Opening Bid: $4,000,000 VB
Passed in: $4,250,000
Bidderman: 1
The 1930s clinker duplex saw three successive vendor bids before a sole figure raised their hand for $50,000 on top of a $4,200,000 vendor bid. Passed in for negotiations.
CANTERBURY, 11 Compton Street
Agent: Nick O’Halloran – Jellis Craig
SOI: $2,300,000 – $2,500,000
Crowd: 20
Opening Bid: $2,100,000
Passed in: $2,150,000 VB
Bidderman: 1
Straight away, a bid came forth of $2,100,000. It turned out to be the only offer from the only bidder; next, auctioneer Campbell Ward made a vendor bid of $2,150,000, however, this failed to encourage any further bidding.
CANTERBURY, 47 Mangarra Road
Agent: Sam Wilkinson – Kay & Burton
SOI: $3,300,000 – $3,600,000
Crowd: 36
Opening Bid: $3,300,000
Passed in: $3,300,000
Bidderman: 1
A quiet affair with one bidder opening on the ask of $3,300,000. Time was given for a potential buyer to respond but a shake of the head confirmed they were out and the home was passed in on the single bid.
