The Boroondara hotspot has rippled through to Stonnington – and make no mistake this is a market change – this is a Mexican of some note. Sure, we are not out the woods, but bidders are cutting swathes through the forests of negativity to lights on the horizon.
Enter Tuesday’s rate announcement and all of sudden this May market is now the volatile one. May is going to be compelling watching like a Magpies last quarter and will almost certainly set the tone for Winter, Early Spring and pre-Xmas markets in 2023.
The 2023M2 May market has gone from a bit of a yawn to pivotal sentiment in the immediate residential property markets future.
In a buy sell, on the sell, we manage the whole process. Our focus is price, strategy, presentation, agent selection, execution, and extras, all of which are largely ignored in many off-markets, big mistake.
And we live in volatile times!
Bang! That means right now $millions are on the line for buyers and sellers.
It’s game back on!
Volatility doesn’t just happen on the way down – it also happens on the way up!
We now enter the post Easter market – M2 – the May market, the year’s second one.
And we live in volatile times!
Bang! That means right now $millions are on the line for buyers and sellers.
It’s game back on!
Volatility doesn’t just happen on the way down – it also happens on the way up!
Stop Press: Today, April 1st, Jellis Craig, Kay and Burton and Marshall White announced they are merging to form a super company called Green is Good, based on the 1980’s business theory, but updated to reflect agents new world environmental credentials.
Another big week in property for us and if you think the market has not changed since later last year when it was a dog – then that’s fair enough – but we don’t agree.
It has changed dramatically since pre-Xmas on individual homes that are special and in some micro-markets (eg Boroondara).
But as we said – a break from the market this week. Back to absolute beachfront.
9 Towers Road Toorak building values will last forever – it’s a classic – it will never be bulldozed – it will go up in value for as long as people appreciate genius. But the money will be made by the current owner, the second one, as the first sold as the dream was completing. I had never met the architects, nor the original owners – we did not buy this home on the quiet, on reputation or for glitz and glam, it was bought for our clients on substance – it was and still is a classic.
Maxwell House Toorak in above podcast was a home that was sold on a timeframe to get the maximum crispiness factor – before any dating. Advice was given, advice was taken, and the numbers speak for themselves.
I buy 30 to 50 homes a year for clients, mainly in the $3m to $30m price range and I have for over 20 years. I first ran into Marcus Chiminello more than a decade ago when two years running, we awarded him the Young Agent of the Year. Marcus is in my Top 5 agents that I have worked with or competed against and a consistent record breaker.
Overall, today was a tale of two markets and it’s not about price – it’s about area.
If you were selling in Boroondara and you were priced correctly, then you sold well. In fact, it’s not too far of a stretch to say (as we did last week) that the Boroondara market is now officially hot (for now).
However, if you were selling in Stonnington or Bayside markets (both) then there has been some improvement from last year’s pre-Christmas M4 market – and officially your auction markets are borderline lukewarm and Stonnington is warmer than Bayside (must be the sea breeze).
See how the Top End Market has been performing.
Are you serious councillors, or is this a misprint in The Age (Adam Carey Nov 14)
“Boroondara (all 11 councillors) said it opposed the government’s decision to give residents the freedom to build secondary homes – or granny flats – on their properties without a planning permit, raising concerns about neighbourhood character, amenity and car parking.”
Market in a Minute: Spring M32023: Melbourne’s $2m+ housing market sees decreased auction transparency with only 20% selling under the hammer. Prices slightly retreat, particularly for B and C graders. Inner East remains a hotspot due to Aussie Asian demand, while Bayside and Stonnington face challenges. Market unpredictability is evident as buyer urgency has left all but the Inner East.
Mal, what do you mean Volatile market?
You know that fiery girlfriend or boyfriend you are showing up for and you don’t know whether it’s going to be a great date or a disaster – that’s a volatile market.
It’s a risk. Do you go to the party, risk a public flop but increase your chances of getting lucky or do you stay home and text where it’s safe, but not much can happen – that’s a volatile strategy choice – auction or sit tight.
Every Monday, keep up to date on Top End News from Hawthorn to Toorak to Brighton to Albert Park and all of Top End Melbourne.
“Mal, what’s wrong with me? What’s wrong with my agent?
What’s wrong with my property as a seller?
Why am I always missing out as a buyer?
Buy Sell works. Late last year, our clients approached us, expressing their desire to discontinue a renovation project. Despite their home being halfway demolished since purchase two years prior, we managed to sell it for more than we initially paid, when we bought it for them. Simultaneously, we facilitated the purchase of a move-in ready property with potential for improvement or the option to retain its current state, all while putting money back into their pockets.
At the Top End we continue to feel positive about where the market could be going, after the conclusion of our 3rd and final week of the 100 Auction Test (2024M1 – Opening).
Overall, the market eased upwards during February buts really its line ball – on the edge – results are patchy and volatile, and the market is still punishing mistakes.
The good news is the Bidderman freefall of 2023M4 – Pre Xmas has been arrested.
All the stats and today’s action below, including a last one standing s…fight at Mary Street, Grace Park on Monday, which went past $14m, $16m and $18m on the fly.
Our proprietary rating system includes a detailed analysis of each property’s pros and cons and a buying recommendation, empowering you to make an informed decision.
HAWTHORN 25 Hawthorn Gr
SOUTH MELBOURNE 30-31 Howe Cres
ASPENDALE 73 Nepean Highway
SANDRINGHAM 19 Kirkwood Ave
GLEN IRIS 6 Irymple Ave
SORRENTO 17 Hiskens St
SOUTH YARRA 28 Ralston St
Interactive Map of home bought and sold by James Buy Sell – click to explore
Ali and Craig Tiley had relocated to Melbourne from the US and were unfamiliar with the local property market. They were looking for support to demystify the Australian way of buying and selling property which is very different to the US model they knew.
We developed a shortlist of potential homes and a buy recommendation. By encouraging them to look beyond initial impressions and consider the inherent value of the home they chose to purchase, Ali and Craig were able to buy into a premium Brighton location two minutes from the action.
Get in touch with James Buy Sell today for a confidential discussion about your next real estate move.
During a confidential initial phone call, we’ll learn about you and what you’re looking to achieve, take you through our full-service approach, and explain how we achieve results others can’t.
Call us on 03 9804 3133 or leave your details below and we’ll be in touch.
