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Is the market a dangerous place?

Is the market a dangerous place?
Everest As you read this, I am preparing to go to Everest. The Himalayas are a life long dream. I think I understand the risks, which include death. Training, equipment and medicines tick, tick and tick. And choosing a guide – that was my most rigorous selection process. Whilst there is an element of luck, I want to avoid whatever serious [...]
Sort of Good Ugly

Sort of Good Ugly

It’s Saturday 6.00pm and the results are in for the first key auction week for 2019 and also the first key measuring week for the James 100 Auction test (100 randomly chosen homes over 3 weekends Feb 23, Mar 2 & 23). Today we covered 36 Auctions across Bayside (Bayside + Port Phillip); Stonnington and Boroondara. And [...]
The Feb Pep

The Feb Pep

Last week we focussed on buying (and thank you for the emails and texts). This week our Market News’s main focus is buy/sell management (the fastest growing real estate market segment). Welcome to the early start of Inner Melbourne Top End 2019 auction markets. We are witnessing the initial rumblings, ahead of the market’s first decent hit-out, which is next Saturday – [...]
Letter to a friend

Letter to a friend

Hi my true friend, It’s 4.00am in the morning and I’ve just been in next door to check on Mum. She buzzed me saying she fell over and needed a hand. She had knocked her head but was basically ok and I helped her up and back into bed. Mum is such a trooper at near 90, [...]
How bad can it get?

How bad can it get?

From all recent news reports, this year is going to be a “bad one” in property. And by definition, a “bad one” is poor quality or not as hoped for. We’re sorry, but we just don’t see “bad”. We see the market, as we left it in 2018, a superior quality one – more sophisticated and better for [...]
The lesson(s) of 2018

The lesson(s) of 2018

9 am \ Surrey Hills Day started with a visit to an off-market home in Surrey Hills. This home has been for sale for over a year. Why? Price. To be an A-grade property you need to have all three Ps – good Property (building), good Position (land) at a good Price (market). This home had two out of three. In [...]
Market moving from regulated to unregulated?

Market moving from regulated to unregulated?

At 6.00pm the James Clearance rate for $M+ Inner Melbourne family homes was 50% on the 26 Auctions we covered in the Pre Xmas 100 Auction test today. James Bidderman that is, bidders per auction, was 1.2, indicating the overall market is still easing/falling in price.  Bidderman needs 2 to tango and 3 to party – 1 is the loneliest number if you’re [...]
Is this the real Inner Melbourne market right now?

Is this the real Inner Melbourne market right now?

Below are three homes we visited for clients, but didn’t bid on. We chose them in advance to cover at auction this weekend, from about 50 we had rated. One in each area, one with each key agency, and all in the circa $3 million range. We thought it could be a little taster until next week’s continuing 100 Auction [...]
Big picture bleak, closer examination brighter!

Big picture bleak, closer examination brighter!

Its 6pm Saturday, week one of our fourth and final 2018, 3-week 100 Auction, Inner Melbourne Family Home, Market Temperature Test. Try saying that a few times! The results above and supporting data below are self-explanatory. Yes? No? Maybe? Have you been to an auction, EOI or off-market lately – is it a bit hit and miss? Not really. In fact, we [...]
Oversupply of unwanted and shortage of wanted

Oversupply of unwanted and shortage of wanted

We bid with another 7 bidders in a boardroom auction* last Thursday on the same day AMP predicted a 20% drop We bid with 8 other bidders in May at a public auction in the same week there was a 9% clearance rate in Kew 6 weeks ago we fought for a client $1.5 million above the quote in a fierce bidding [...]
Are You Awake To What Is Really Going On?

Are You Awake To What Is Really Going On?

This is the first of two articles about what is really happening in our markets. We live in exciting times in the business, in the emotion of and in the life of Melbourne Top End real estate. Is it a dawn or is it a midnight? Who knows but it is one of the more interesting times we have seen, [...]
It’s official, we have a new No. 1!

It’s official, we have a new No. 1!

At 6.00pm the James Spring 100 Auction Clearance Rate for $M+ Inner Melbourne family homes was 53% over the 3-week market test period (Aug 25, Sept 1 and 8). Last week our heading was Wipeout – it was a shocking day on the streets (31%) –  today (66%) the results are a bounce back to the previous week (61%) [...]
WipeOut

WipeOut

At 6.00pm the James Clearance rate for $M+ Inner Melbourne family homes was 31% on the 35 Auctions we covered today. This was the poorest recorded clearance rate on record (ever). James Bidderman that is, bidders per auction, was 0.7 – a very negative stat for the start of the Spring market. This was the equal poorest recorded Bidderman on record (ever). Last week we stated the market seemed a little [...]
When you’re warm you’re hot and when you’re cold you’re freezing

When you’re warm you’re hot and when you’re cold you’re freezing

Welcome to our $2m-plus auction Early Spring season opener And the first of three weekends of the James 3 Week 100 Auctions Early Spring Market Test, specifically designed to measure the true market temperature of higher end, Inner Melbourne Family Homes. This time last year, the opening Spring Day was a bit depressing and now it feels like we have just [...]
Price Uncertainty is the New Black

Price Uncertainty is the New Black

Price has become such an interesting concept in this market. There feels to be an overall lack of trust and comfort with regards to what price to pay – so whilst many things are different between the market of now (eg still some volcano auctions, 6 bidders sub $2m at 18 Barkly St, Brighton, Alex Schiavo)  [...]

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