I’m Mal and I’m Gina. Welcome to James Buy Sell Marketnews.
Since 2002 we have explored alternative ways of thinking to benefit you, on your buy or sell or buy sell, of an A-Grade, Top End, Melbourne family home.
Eco Joe & predictions
Eco Joe below, is not primarily about bagging economists – Eco Joe is about highlighting that reported predictions seldom match reality with regards to A-grade family homes. Enjoy!
Meet Joe!
Joe is an economist and our guest of honour in our Spring – Market-in-a-Minute Video.
Joe, or is it Dr Joe, works for a bank and he’s been getting a lot of media coverage about predictions lately.
This is the same Joe, that in 2020 said the market would drop by 25%.
It actually went up by 25%. Unlucky Joe, they call him!
Unluckier were those that listened to him – that’s a $2million error on a $4million home.
Joe has a long record of predictions – check out the video?
Joe thinks that inflation and interest rates are the reasons why the property market will perform poorly over the next few years.
Joe I’m confused!
Joe, inflation is a property owners’ friend in many ways. If the world is inflating give me good A-grade property any day!
Joe, I have seen interest rates well over 6%, many times in my 60 years, and the property market was still going up, on many of those occasions.
But Joe, markets do fall and in fact we are in a falling market now, especially in the $2m to $6m segment. Demand is less than supply and we’ve dropped 10% since Cup Day 2021.
Well done Joe,……whoops you didn’t predict that…..
Anyway Joe, will the Inner Melbourne falling market continue?
I acknowledge I’m not as scholastic as you – the only thing I understand is demand and supply.
The times I’ve seen markets seriously implode for a sustained period, was all about oversupply, such as apartments since 2000. Guess what Joe – the apartment markets tanked and are still tanking! We have never bought an investment apartment though!
However, for homes with land in Inner Melbourne: A-Graders? Will there be a long-term oversupply?
- How long will the borders stay shut to skilled migration, look at Europe (war) and USA (guns) and China (mmmm) and Africa and Brazil and look how we live. Then look at our sovereign debt?
- How many councils do you think will vote for more streamlined home building (ha) and Joe who is going to build the homes if they do and maaaate have you seen the cost of timber and materials – give me an A-grade existing home any day!
- Joe really, do you think renting is better than homeowning (good one Joe).
Joe the market has dropped 10% already and I love ya persistence buddy – if you keep betting on black, then eventually you’ll have to nail it Joe….and you may well be right……but I’m not so sure that’s a way I want my family to live or a gamble I want to take!
Photo: Kieran
Lonely Volcano Only Volcano
KEW, 54 Gladstone Street. $2,300,000 – $2,500,000. Nick Whyte. Crowd: 40
Open: $2,200,000 VB. On the Market: $2,330,000. Hammer: $2,437,000. 4 Bidders
Pre Winter Market Overall
This week we completed the last 32 auctions of our 3 week, 100 Auction test, designed to give you an accurate picture of where the 2nd of our 4 majors 2022 market – the MAY market has landed.
It hasn’t yet landed – it’s still falling.
Auctions, for now, are well…….not really auctions……60% of auctions covered over the last 3 weeks were like public private sales (only 1 bidder and nobody else) or non-sales (ducks). Less than 3 in 10 were real auctions.
However, nearly 7 in 10 still sold, if priced to the buyer.
WOW! Only 6 homes out of a hundred were volcanoes (4+ bidders) and overall, less than 30% of scheduled auctions were in fact, true multiple bidder auctions.
Underquoting as a strategy, in this market, is dumb stupid – where’s the volcanoes?
The market which has been falling since Cup Day 2021, continues to fall in May 2022 – effectively the third major market in a row to fall (Xmas 2021, Opening 2022 and May 2022).
But if you bought an A-grader, it is more than likely worth considerably more in May 2022 compared to May 2019 or even Easter 2020.
Photo: Elise
HAMPTON, 42 Sargood Street. $2,800,000 – $3,000,000. Jenny Dwyer. Crowd: 78
Open: $2,800,000. Passed in: $2,800,000. Sold After. Bidders 1.
Photo: Kieran
KEW, 3 Barry Street. $3,500,000 – $3,700,000. Arch Staver. Crowd: 40
Open: $3,500,000 VB. Passed in: $3,760,000. Bidders: 2
Photo: Phe
KOOYONG, 21 Monaro Road. $4,600,000 – $5,000,000. Michael Armstrong. Crowd: 45
Open: $4,600,000 VB. Passed in: $4,730,000. Bidders: 2
What does this mean?
If you are priced over the market, as many sellers were 2020 and 2021 and still sold – you are unlikely to sell in May 2022. May 2022 is generally at a discount to October 2021.
One exception and still the strongest market:
Ready to Move In / A-Graders / above say $8M in Inner Melbourne.
Why?
- Wealth has improved at this $ level in 2020 and 2021.
- Do not have bank issues.
- It’s a buy focus and selling the previous home is not a key stress of the deal.
Unlike the weakest markets
These PPP segments are facing significant discounts (10%+) on prices 6 months ago.
- Property: Townhouse/Apartments or Homes in Need of Renos are ICY!
- Price: $2m to $6m range is the hardest to sell in if overpriced.
- Position: Stonnington is the overall weakest market – well priced or not.
Why?
- Build costs – wow – it’s an issue.
- Time lag – wow – will the builder still be in business and how long will it take?
- Negative market momentum sentiment – the rolling stone is gathering moss
- Demand drops the biggest in these PPP segments
Seller Spin: Market is Balanced
It is not, it is still falling in price and a double whammy on lower than normal activity.
The market is not balanced – it may be rebalancing – but it has not yet landed at a horizontal level on price – it is still falling in most PPP segments.
Likely to continue in Winter and perhaps early Spring. After that who knows!
Summary: Bidderman continues to drop, resulting in the May market performing poorly. Price has come off 10% in expectations since Spring 2021.
Buyer Spin: Wait
- For what?
- Immigration and unaffordability?
- Children to leave?
- Renting is better, more emotionally secure?
- How many have got property rich waiting? Granted don’t buy poorly but if you really really want it – buy it and if you don’t really really want it, then waiting is ok!
- We’re not waiting! I am looking to help buy for my child RIGHT NOW – underbidder between MAJORS! AND we have four clients in actual home buying negotiations currently.
May/June Cold
- Bidderman was only 1.1 on low stock
- Sold After was more common than Teal voters.
- Only one Volcano!
- 2/3 of the homes sold at auction, were before or after.
- Sold under the hammer was only 5 in 32 homes or 16%
- Stonnington the coldest.
May/June Warm
- 7 in 10 did sell and were bought.
- Market at the top is still competitive .
- One-buyer selling strategies, can work well.
- Ready-to-move-in sell and sell well.
- 14 of our 15 selling clients sold before today – because they were told on Nov 15 2021 the market had begun to slide.
SANDRINGHAM, 8 Reno Road
SOI: $2,400,000 – $2,600,000
Sales Agent: Kylie Charlton – Marshall White
Before Auction: $undisc – within the quote
Bidders: 1
HAMPTON, 3 Myrtle Road
SOI: $2,400,000 – $2,500,000
Sales Agent: Sam Maley – Buxton
Before Auction: $undisc
Bidders: 1
ALBERT PARK, 5 Dundas Place
SOI: $2,400,000 – $2,600,000
Sales Agent: Simon Gowling – Jellis Craig
Crowd: 50
Opening Bid: $2,500,000
Passed in: $2,620,000
After Auction: $2,800,000
Bidders: 3
A quick auction resulting in the property being passed in with 3 bidders in a crowd of nearly 50.
BRIGHTON, 23 Gray Street
SOI: $3,700,000 – $3,900,000
Sales Agent: Nick Johnstone – Nick Johnstone Real Estate
Crowd: 80
Opening Bid: $3,800,000
On the Market: $4,000,000
Under the Hammer: $4,220,000
Bidders: 3
Three parties battled it out in the rain, bidder 2 came out victorious and purchased the home at $4,220,000.
SANDRINGHAM, 5 Masefield Avenue
SOI: $2,200,000 – $2,400,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 40
Opening Bid: $2,200,000
On the Market: $2,500,000
Under the Hammer: $3,050,000
Bidders: 2
The auction started with a strong opening bid of $2,200,000. Two parties battled it out in strong race, eventuating in property being sold for $3,050,000.
SOUTH MELBOURNE, 18-22 Nelson Road
SOI: $5,620,000 – $6,000,000
Sales Agent: Ben Manolitsas – Marshall White
Crowd: 36
Opening Bid: $5,500,000
Passed in: $5,550,000
Bidders: 1
Auction opened on a Vendor bid and only had 1 bid before being passed in.
SANDRINGHAM, 3 Pellew Street
SOI: $2,050,000 – $2,200,000
Sales Agent: Peter Hickey – Buxton
Crowd: 40
Opening Bid: $2,100,000
On the Market: $2,220,000
Under the Hammer: $2,291,000
Bidders: 2
Two bidders took 3 Pellew Street, Sandringham to a successful sale today in light drizzle where hoodies and umbrellas were the feature.
BEAUMARIS, 8 Lang Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Michael Cooney – Hodges
Crowd: 50
Opening Bid: $3,000,000
On the Market: $3,400,000
Under the Hammer: $3,530,000
Bidders: 3
BRIGHTON, 14 Lorac Avenue
SOI: $3,100,000
Sales Agent: Chris Hassall – Buxton
Crowd: 80
Opening Bid: $3,050,000
On the Market: $3,200,000
Under the Hammer: $3,750,000
Bidders: 3
Chris Hassall directed a fast paced auction with three bidders who fought with vigour for the home, and it sold for $3,750,000.
BRIGHTON, 79 Roslyn Street
SOI: $5,000,000 – $5,300,000
Sales Agent: Gary Yue – Buxton
Crowd: 30
Opening Bid: $4,800,000
Passed in: $4,850,000
Bidders: 1
The auction opened with a vendor bid of $4,800,000. With one further bid of $4,850,000 the property was formally passed in.
ELWOOD, 4 Heaton Avenue
SOI: $3,950,000 – $4,200,000
Sales Agent: Torsten Kasper – Chisholm & Gamon
Crowd: 35
Opening Bid: $3,950,000 VB
Passed in: $4,000,000 VB
Bidders: 0
A quiet Auction with an opening vendor bid and the property being passed in with no bids for 4 million.
SANDRINGHAM, 7 Le Fevre Street
SOI: $3,200,000 – $3,350,000
Sales Agent: Kylie Charlton – Marshall White
Crowd: 60
Opening Bid: $3,200,000 VB
Passed in: $3,200,000 VB
Bidders: 0
The auction started with an opening vendor bid of $3,200,000. Following a half time break and no further bids the property was passed in.
BRIGHTON EAST, 142 South Road
SOI: $2,300,000 – $2,500,000
Sales Agent: Alex Schiavo – Kay & Burton
WITHDRAWN
GLEN IRIS, 12 Renwick Street
SOI: $2,100,000 – $2,300,000
Sales Agent: Michael Wood – Jellis Craig
Before Auction: $undisc – above the range
Bidders: 1
CANTERBURY, 46 Hopetoun Avenue
SOI: $3,900,000 – $4,290,000
Sales Agent: Sophie Su – Kay & Burton
Before Auction: $undisc – above the range
Bidders: 1
MONT ALBERT, 8 Earle Close
SOI: $2,500,000 – $2,750,000
Sales Agent: David Banks – Jellis Craig
Crowd: 30
Opening Bid: $2,500,000 VB
Passed in: $2,550,000 VB
Bidders: 0
The rain seemed to put a dampener on biding activity, as two vendor bids weren’t enough to get this sale over the line; so the property was passed in at $2,550,000.
CAMBERWELL, 12 Nevis Street
SOI: $3,100,000 – $3,500,000
Sales Agent: Geordie Dixon – Jellis Craig
Crowd: 35
Opening Bid: $3,100,000 VB
Passed in: $3,125,000
After Auction: $undisc
Bidders: 1
A decent crowd despite the weather. Auctioneer Michael Wood squeezed one bid from the street and the property was passed in and sold after.
GLEN IRIS, 77 Ashburton Road
SOI: $2,700,000 – $2,850,000
Sales Agent: Chris Gillon – Jellis Craig
Crowd: 60
Opening Bid: $2,750,000 VB
On the Market: $2,960,000
Under the Hammer: $3,005,000
Bidders: 3
Well, despite the rain coming down on this outdoor auction, between three bidders, the hammer came down at $3,005,000 on this property.
CAMBERWELL, 1 Judd Street
SOI: $2,300,000 – $2,450,000
Sales Agent: Mark Salvati – Jellis Craig
Crowd: 25
Opening Bid: $2,875,000
On the Market: $2,875,000
Under the Hammer: $2,875,000
Bidders: 1
1 bid and it was on the market and sold.
CAMBERWELL, 15 Donna Buang Street
SOI: $3,400,000 – $3,600,000
Sales Agent: Anton Zhouk – Anton Zhouk Real Estate
Crowd: 30
Opening Bid: $3,400,000 VB
Passed in: $3,400,000 VB
Bidders: 0
Another ’silent’ auction where no bidding activity was forthcoming, causing a pass-in on a vendor bid of $3,400,000
CAMBERWELL, 29 Fairfield Avenue
SOI: $3,900,000 – $4,290,000
Sales Agent: Sophie Su – Kay & Burton
Crowd: 30
Opening Bid: $3,900,000
Passed in: $4,100,000
Bidders: 4
After Auction: $undisc
Auctioneer Scott Patterson was able to entice some back and forth bidding amongst the crowd but wasn’t enough to put the property on the market despite 4 bidders.
KEW, 93 Stevenson Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 25
Opening Bid: $2,700,000 vb
On the Market: $2,830,000
Under the Hammer: $2,960,000
Bidders: 2
Auctioneer Scott Patterson allowed a pause in the auction for a couple to quickly inspect the home – Lucky he did, as they came out and started to bid. However, the property was sold to the original first bidder for $2,960,000.
GLEN IRIS, 17 Watson Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Steve Burke – Belle Property
Crowd: 50
Opening Bid: $2,000,000
On the Market: $2,210,000
Under the Hammer: $2,345,000
Bidders: 2
Two bidders we eager to get going – Back and forth until the home was sold for $2,345,000.
CAMBERWELL, 38 Moorhouse Street
SOI: $2,700,000 – $2,970,000
Sales Agent: Stephen Gough – Marshall White
Crowd: 80
Opening Bid: $2,900,000
On the Market: $2,995,000
Under the Hammer: $3,015,000
Bidders: 3
A keen bidder commenced the proceedings straight off the bat, and was joined by two others, resulting in a sale of $3,015,000.
MALVERN EAST, 60 Emo Road
SOI: $2,800,000 – $3,000,000
Sales Agent: Gowan Stubbings – Kay & Burton
Before Auction: $3,000,000
Bidders: 1
MALVERN, 1a Glendearg Grove
SOI: $3,800,000 – $4,000,000
Sales Agent: Carla Fetter – Jellis Craig
Before Auction: $undisc – within the range
Bidders: 1
MALVERN, 24 Glendearg Grove
SOI: $3,300,000 – $3,500,000
Sales Agent: Carla Fetter – Jellis Craig
Crowd: 54
Opening Bid: $3,200,000 VB
On the Market: $3,400,000
Under the Hammer: $3,400,000
Bidders: 2
As Auctioneer John Morrisby declared the home on the market, bidder two bowed out and the property sold to Bidder One, with a round of applause.
GLEN IRIS (STONNINGTON), 24 Wilson Street
SOI: $2,900,000 – $3,100,000
Sales Agent: James Tomlinson – Marshall White
Crowd: 30
Opening Bid: $3,000,000 VB
Passed in: $3,025,000
Auction After: $undisc
Bidders: 1
One brave bidder placed a bid of $25,000 and the home was passed in.
MALVERN EAST, 6 Wilmot Street
SOI: $2,200,000 – $2,400,000
Sales Agent: Ian McLennan – Jellis Craig
Crowd: 30
Opening Bid: $2,000,000 VB
Passed in: $2,050,000 VB
Bidders: 0
A quiet crowd, consisting of mostly neighbours, offered no bids today. The property was passed in on a vendor bid.
ARMADALE, 36 Barkly Avenue
SOI: $2,350,000 – $2,550,000
Sales Agent: Abby Ines – Marshall White
Crowd: 35
Opening Bid: $2,400,000 VB
Passed in: $2,400,000 VB
Bidders: 0
With no audience participation, the auction was quickly closed.
GLEN IRIS (STONNINGTON), 11 Wandeen Road
SOI: $3,500,000 – $3,850,000
Sales Agent: John Morrisby – Jellis Craig
WITHDRAWN
TOORAK, 17 Turnbull Avenue
SOI: $3,600,00 – $3,750,000
Sales Agent: Rodney Morley – Rodney Morley Persichetti
Crowd: 45
Opening Bid: $3,500,000 VB
On the Market: $3,725,000
Under the Hammer: $3,725,000
Bidders: 3
Opened with a vendor bid and sold shortly after a quick break for the reserve price.
TOORAK, 658 Orrong Road
SOI: $6,100,000 – $6,600,000
Sales Agent: Andrew Macmillan – Jellis Craig
Crowd: 20
Opening Bid: $6,000,000 VB
Passed in: $6,000,000 VB
Bidders: 0
A small crowd gathered inside, no bids were placed, and the property was passed in.
BRIGHTON, 17 Orchard Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Dahli Woosnam – Marshall White
Bought Before: $undisc
Bidders: 1
HAMPTON, 12 Myrtle Road
SOI: $2,600,000 – $2,750,000
Sales Agent: Angus Graham – Hodges
Bought Before: $undisc
Bidders: 1
BRIGHTON, 46 Outer Crescent
SOI: $3,300,000 – $3,500,000
Sales Agent: Nick Johnstone – Nick Johnstone Real Estate
Bought Before: $undisc
Bidders: 1
BRIGHTON, 131-133 Carpenter Street
SOI: $2,600,000 – $2,800,000
Sales Agent: Simone Chin – Atria
Bought Before: $undisc
Bidders: 1
ALBERT PARK, 70 Danks Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Brendan Coburn – The Agency
Crowd: Peter Kakos
Opening Bid: $2,000,000
On the Market: $2,190,000
Under the Hammer: $2,212,500
Bidders: 3
A small scattered crowd watched as two bidders swiftly traded bids. A third bidder joined briefly toward the end and then marched away, leaving bidder one with the winning bid.
MIDDLE PARK, 90 Park Road
SOI: $5,800,000 – $6,200,000
Sales Agent: Max Mecuri – Jellis Craig
Crowd: 60
Opening Bid: $6,000,000 VB
Passed in: $6,220,000
Bidders: 1
Only one bidder willing to participate during the auction, the home was passed in
ALBERT PARK, 104 Kerferd Road
SOI: $4,850,000 – $5,300,000
Sales Agent: Oliver Bruce – Marshall White
Crowd: 66
Opening Bid: $5,200,000 VB
Passed in: $5,300,000
After Auction: $5,500,000
Bidders: 2
After only two bids Auctioneer, Oliver Bruce, passed the property in and moved negotiations inside.
PORT MELBOURNE, 220 Esplanade West
SOI: $3,400,000 – $3,650,000
Sales Agent: Matthew Pillios – Marshall White
Crowd: 85
Opening Bid: $3,500,000
On the Market: $3,600,000
Under the Hammer: $3,785,000
Bidders: 4
Downsizers and young families were well represented. Bidder one was steadfast against three others, matching all bids to take the keys.
BRIGHTON EAST, 15 Lucas Street
SOI: $3,500,000 – $3,700,000
Sales Agent: Kate Strickland – Marshall White
Crowd: 25
Opening Bid: $3,500,000 VB
Passed in: $3,500,000 VB
After Auction: $undisc
Bidders: 0
A starting vendor bid of $3.5 mil was placed. The audience was not biting back. It was quickly passed in.
BRIGHTON EAST, 17 Balfour Street
SOI: $2,600,000 – $2,800,000
Sales Agent: Matthew Pillios – Marshall White
Crowd: 85
Opening Bid: $2,680,000 VB
Passed in: $2,930,000
After Auction: $undisc
Bidders: 4
4 bidders with the home passed in at $2,9030,00 and sold during negotiation to highest bidder.
BRIGHTON, 6 Oakwood Avenue
SOI: $2,650,000 – $2,850,000
Sales Agent: Peter Kakos – The Agency
Crowd: 30
Opening Bid: $2,750,000 VB
Passed in: $2,775,000
Bidders: 1
One bidder and the property was passed in at $2,775,000
BRIGHTON, 5 Hillcrest Avenue
SOI: $2,900,000 – $3,190,000
Sales Agent: David Evan – The Moore Company
Crowd: 25
Opening Bid: $2,700,000 VB
Passed in: $2,700,000 VB
Bidders: 0
With no opening bids on the property auction we David Evens placed a vendor bid of $2.7 mil. With no further bids it was passed in.
BRIGHTON, 68 William Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Simone Howell – Marshall White
Crowd: 31
Opening Bid: $2,160,000 VB
Passed in: $2,200,000
After Auction: $undisc
Bidders: 1
Property started with a vendor bid of $2,160,000. One bidder and property was passed in at $2,200,000.
BRIGHTON, 27 Arnold Road
SOI: $2,600,000 – $2,700,000
Sales Agent: Kate Strickland – Marshall White
Crowd: 40
Opening Bid: $2,550,000 VB
On the Market: $2,750,000
Under the Hammer: $2,860,000
Bidders: 3
After a few moments of silence from the crowd, the first bidder placed a bid of $2.6. The property was put on the market at $2.75 mil. It was sold for $2.86 to bidder 2.
HAMPTON, 18 Bolton Avenue
SOI: $4,500,000 – $4,850,000
Sales Agent: $4,700,000
Crowd: 50
Opening Bid: $4,700,000
On the Market: $5,100,000
Under the Hammer: $5,850,000
Bidders: 5
5 bidders participated in the auction with the home finally being knocked down at $5,850,000
GLEN IRIS, 44 Bourne Road
SOI: $3,000,000 – $3,300,000
Sales Agent: Fiona Ansell-Jones
Bought Before: $undisc
Bidders: 1
HAWTHORN EAST, 15 Kildare Street
SOI: $2,950,000 – $3,200,000
Sales Agent: James Tostevin – Marshall White
Bought Before: $undisc
Bidders: 1
KEW, 7 Mortimer Street
SOI: $2,650,000 – $2,850,000
Sales Agent: Nicholas Franzmann – Marshall White
Crowd: 20
Opening Bid: $2,650,000
Passed in: $2,925,000
After Auction: $undisc
Bidders: 2
Two bidders competed for this property, however due to the reserve not being realised, it was passed in.
GLEN IRIS, 33 Grandview Avenue
SOI: $3,000,000 – $3,300,000
Sales Agent: Zali Reynolds – Shelter
Crowd: 120
Opening Bid: $3,250,000
On the Market: $3,380,000
Under the Hammer: $3,500,000
Bidders: 3
Dominated by a very verbal Bidder 1, the auction began $250,000 above the suggested reasonable start and was subsequently bought under the hammer after two bursts of rapid-fire $5,000 bids.
SURREY HILLS, 12 Kennealy Street
SOI: $2,600,000 – $2,800,000
Sales Agent: Chloe Quinn – Jellis Craig
Crowd: 20
Opening Bid: $2,600,000 VB
Passed in: $2,625,000
Bidders: 1
Passed in after a very quiet auction with only one bid, not enough to spark competition, so no further activity beyond that.
MONT ALBERT, 3 Blenheim Avenue
SOI: $3,000,000 – $3,300,000
Sales Agent: Duane Wolowiec – Marshall White
Crowd: 20
Opening Bid: $2,900,000 VB
Passed in: $2,950,000 (VB)
Bidders: 0
Opened and passed in on vendor bids without a hand up to get it started.
SURREY HILLS, 33 James Street
SOI: $2,500,000 – $2,750,000
Sales Agent: Hamish Tostevin – Marshall White
Crowd: 30
Opening Bid: $2,500,000 VB
Passed in: $2,500,000 VB
Bidders: 0
Despite repeated attempts to entice bidding, silence reigned, resulting in a pass-in on the initial vendor bid.
CAMBERWELL, 44 Broadway
SOI: $2,200,000 – $2,400,000
Sales Agent: Cameron Edgoose – Jellis Craig
Crowd: 40
Opening Bid: $2,200,000
Passed in: $2,360,000
After Auction: $undisc
Bidders: 3
The auction twice looked like it was over, with last minute bids restarting the back-and-forth. Bidder 1 held the high bid, and the property was passed in.
CAMBERWELL, 10 Brynmawr Road
SOI: $3,100,000 – $3,350,000
Sales Agent: Jeff Gole – Abercromby’s
Crowd: 40
Opening Bid: $3,150,000 VB
Passed in: $3,150,000 VB
Bidders: 0
Despite the 40-strong crowd, this was a very quiet affair, with the property being passed in on a vendor bid.
CANTERBURY, 31 Rubens Grove
SOI: $3,900,000 – $4,100,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 60
Opening Bid: $3,900,000
On the Market: $4,250,000
Under the Hammer: $4,250,000
Bidders: 3
Bidder 3 employed a couple of knockout bids to end the competition and bring the property on the market.
CAMBERWELL, 26 Moorhouse Street
SOI: $2,950,000 – $3,150,000
Sales Agent: Nicholas Franzmann – Marshall White
Crowd: 60
Opening Bid: $2,800,000
Passed in: $3,050,000
After Auction: $undisc
Bidders: 2
Two bidders quickly took the price to $3,050,000, from an starting bid of $2,800,000 – however, this wasn’t enough to get the hammer down, so it was passed in.
CANTERBURY, 32 Avenue Athol
SOI: $4,300,000 – $4,600,000
Sales Agent: Mark Josem – Jellis Craig
Crowd: 65
Opening Bid: $4,200,000 VB
Passed in: $4,250,000 VB
After Auction: $undisc
Bidders: 0
Vendor bids couldn’t build to a crowd response. After a vendor referral, a third vendor bid passed the property in.
MALVERN EAST, 32 Beaver Street
SOI: $2,400,000 – $2,600,000
Sales Agent: John Morrisby – Jellis Craig
Crowd: 30
Opening Bid: $2,400,000
Passed in: $2,535,000
After Auction: $undisc
Bidders: 2
2 onlookers went back and forth in small increments but were unable to reach reserve and the property was passed into the first bidder.
GLEN IRIS (STONNINGTON), 3 Payne Street
SOI: $2,800,000 – $3,000,000
Sales Agent: Carla Fetter – Jellis Craig
Crowd: 40
Opening Bid: $2,750,000 VB
Passed in: $2,775,000
After Auction: $undisc
Bidders: 1
The auction commenced with a vendor bid of $2,750,000. Following a half time break and the introduction of bidder 1 at $2,775,000. The property was formally passed in.
ARMADALE, 46 Barkly Avenue
SOI: $2,200,000 – $2,400,000
Sales Agent: Andrew McCann – Jellis Craig
Crowd: 45
Opening Bid: $2,150,000 VB
Passed in: $2,250,000
After Auction: $undisc
Bidders: 2
2 groups joined in the bidding, but it wasn’t enough to put the property on the market.
TOORAK, 19 Turnbull Avenue
SOI: $3,650,000 – $3,850,000
Sales Agent: Justin Long – Marshall White
Crowd: 25
Opening Bid: $3,500,000
Passed in: $3,500,000
Bidders: 0
The auction commenced with a vendor bid of $3,500,000. With a half time break and no further bids the property was passed in.
MALVERN EAST, 14 Erica Avenue
SOI: $4,200,000 – $4,400,000
Sales Agent: Rae Tomlinson – Marshall White
Crowd: 45
Opening Bid: $4,200,000 VB
On the Market: $4,610,000
Under the Hammer: $4,900,000
Bidders: 4
1 bidder quickly became 3 and just when you thought it was over, a late bidder joined the party and secured the property.
MALVERN, 8 Bonview Road
SOI: $4,500,000 – $4,800,000
Sales Agent: John Manton – Marshall White
Crowd: 100
Opening Bid: $4,400,000
On the Market: $4,920,000
Under the Hammer: $5,110,000
Bidders: 3
The auction kicked off with a vendor bid of $4,400,000. Shortly after bidder 1 and 2 followed in a $50,000 rise. The two battled it out where the house was declared on the market at $4,920,000. Bidder 3 swiftly joined the battle at $4,960,000. Bidder 2 was victorious and bought the home at $5,110,000.
MALVERN, 15 Eva Street
SOI: $2,250,000 – $2,450,000
Sales Agent: Grant Samuel – Kay & Burton
Crowd: 60
Opening Bid: $2,250,000
Passed in: $2,530,000
After Auction: $undisc
Bidders: 2
An opening bid of $2,250,000 kicked the auction off. Bidder joined in shortly after and the two battled it before halting at a bid of $2,530,000 where the property was passed in.
MALVERN EAST, 76 Beaver Street
SOI: $4,900,000
Sales Agent: Ian McLennan
Crowd: 25
Opening Bid: $4,500,000 VB
Passed in: $4,550,000 VB
Bidders: 0
Two vendor bids, nothing from the crowd. The property passed in
HAMPTON, 5 Kanowna Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Nick Jones – Hodges
Before Auction: $undisc – within the range
Bidders: 1
BRIGHTON EAST, 22 Wrixon Avenue
SOI: $2,200,000 – $2,400,000
Sales Agent: Harold Laver – Century 21
Before Auction: $undisc
Bidders: 1
ST KILDA EAST, 26 Bailey Avenue
SOI: $2,500,000 – $2,750,000
Sales Agent: Sam Hobbs – Jellis Craig
Crowd: 30
Opening Bid: $2,500,000
Passed in: $2,785,000
After Auction: $undisc
Bidders: 3
There were 3 bidders at 26 Bailey street St Kilda East. First bid was placed at $2.5mil. The property was passed in at $2.785mil.
ALBERT PARK, 22 Greig Street
SOI: $4,600,000 – $4,900,000
Sales Agent: Simon Gowling – Jellis Craig
Crowd: 40
Opening Bid: $4,600,000
Passed in: $4,700,000
After Auction: $undisc – above range
Bidders: 1
The opening bid was $4,600,000. A second bid was placed shortly after by the vendor of $2,700,000. This was matched by bidder one and the property was passed in.
ALBERT PARK, 65 Kerferd Road
SOI: $5,200,000 – $5,500,000
Sales Agent: Simon Gowling – Jellis Craig
Crowd: 40
Opening Bid: $5,300,000
Passed in: $5,400,000 VB
After Auction: $5,500,000
Bidders: 1
One lone bidder kicked the auction off before a vendor bid was place and the home passed in. Sold after for $5,500,000
SOUTH MELBOURNE, 406 Coventry Street
SOI: $2,750,000 – $2,950,000
Sales Agent: Stephanie Evans – Belle Property
Withdrawn
The home was withdrawn moments before the auction and moved to private sale
ST KILDA EAST, 33 Raglan Street
SOI: $2,900,000 – $3,150,000
Sales Agent: Limor Herskovitz – Gary Peer
Crowd: 30
Opening Bid: $3,000,000 VB
Passed in: $3,050,000
After Auction: $undisc
Bidders: 1
Phillip Kingston opened the bidder with one on looker joining in. The reserve was not met and the home was passed in – sold after
BRIGHTON EAST, 9 Carr Street
SOI: $2,200,000 – $2,300,000
Sales Agent: Kate Fowler – Marshall White
Crowd: 25
Opening Bid: $2,200,000 VB
On the Market: $2,360,000
Under the Hammer: $2,360,000
Bidders: 2
9 Carr Street Brighton East – Crowd consisting of couples in their 30’s and young families. 2 bidders with the house being sold under the hammer at $2,360,000
HAMPTON, 42 Sargood Street
SOI: $2,800,000 – $3,000,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 78
Opening Bid: $2,800,000
Passed in: $2,800,000
After Auction: $undisc
Bidders: 1
Large crowd with 1 couple opening the bid at $2,80,000, no other bids. Property was passed in at $2,800,000 & negotiations started with the highest bidder.
BRIGHTON, 51 Were Street
SOI: $3,250,000 – $3,550,000
Sales Agent: Tom Davidson – Buxton
Crowd: 41
Opening Bid: $3,250,000 VB
Passed in: $3,250,000 VB
Bidders: 0
Vendor opened bidding at $3,250,000 which saw no bidders and the property was passed in.
HAMPTON, 60 Ludstone Street
SOI: $2,700,000 – $2,850,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 30
Opening Bid: $2,700,000 VB
Passed in: $2,700,000 VB
Bidders: 0
People in the crowd were enjoying the sunshine and their fish and chips, but no one was bidding today. The property was passed in to a vendor bid of $2,700,000
BRIGHTON EAST, 19 Heathfield Road
SOI: $2,650,000 – $2,900,000
Sales Agent: Rosslyn Mastangelo – Marshall White
Crowd: 40
Opening Bid: $2,600,000 VB
Passed in: $2,700,000
Bidders: 1
Vendor opening bid of $2,600,000, 1 family bid $2,700,000 but property was passed in.
KEW, 10 Lytton Street
SOI: $6,500,000 – $7,000,000
Sales Agent: Nick Ptak – Marshall White
Bought Before: $7,575,000
Bidders: 1
CANTERBURY, 1-2/21 Stanley Grove
SOI: $3,100,000 – $3,400,000
Sales Agent: James Tostevin – Marshall White
Bought Auction: $undisc – above range
Bidders: 1
HAWTHORN EAST, 45-47 St Helens Road
SOI: $3,000,000 – $3,300,000
Sales Agent: Karen Chung – Woodards
Crowd: 50
Opening Bid: $3,000,000 VB
Passed in: $3,250,000
Bidders: 1
Bartered between vendor bids and the lone bidder before stalling and passing in.
CAMBERWELL, 45 Broadway
SOI: $3,200,000 – $3,500,000
Sales Agent: James Tostevin – Marshall White
Crowd: 70
Opening Bid: $3,200,000
On the Market: $3,420,000
Under the Hammer: $3,710,000
Bidders: 3
The auction kicked off with a Vendor Bid of $3,200,000. Bidder 1 & 2 shortly after joined in to participate, battling it out in bids of $20,000 rises. Bidder 3 joined in at the back end of the race, ultimately claiming victory and purchasing the home at $3,710,000.
HAWTHORN EAST, 25 Cole Street
SOI: $2,900,000 – $3,100,000
Sales Agent: Anton Zhouk – Anton Zhouk Real Estate
Crowd: 60
Opening Bid: $2,900,000
On the Market: $3,175,000
Under the Hammer: $3,295,000
Bidders: 2
A quick bidding war between two parties took the price over the reserve and to $3,295,000, where the hammer then fell.
HAWTHORN, 61 Robinson Road
SOI: $2,900,000 – $3,190,000
Sales Agent: Annabelle Feng
Crowd: 20
Opening Bid: $2,600,000 VB
Passed in: $2,800,000 VB
Bidders: 0
A succession of four vendor bids which went unanswered.
HAWTHORN EAST, 154 Victoria Road
SOI: $3,250,000 – $3,550,000
Sales Agent: Hugh Hardy – Abercromby’s
Crowd: 40
Opening Bid: $3,250,000 VB
Passed in: $3,250,000 VB
Bidders: 0
The auction commenced with an opening Vendor Bid of $3,250,000. With a silent crowd and a half time break the home was formally passed in.
HAWTHORN, 103 Kooyongkoot Road
SOI: $3,000,000 – $3,300,000
Sales Agent: Walter Summons
Crowd: 60
Opening Bid: $3,000,000
On the Market: $3,300,000
Under the Hammer: $3,390,000
Bidders: 2
Steady bidding activity from two parties took the price to $3,390,000, at which point it sold to the highest bidder.
KEW, 3 Barry Street
SOI: $3,500,000 – $3,700,000
Sales Agent: Arch Staver – Nelson Alexander
Crowd: 40
Opening Bid: $3,500,000 VB
Passed in: $3,760,000
After Auction: $undisc
Bidders: 2
After a slow start, a decisive series of bids secured the top spot and the property was passed in.
GLEN IRIS, 37 Hilltop Avenue
SOI: $3,400,000 – $3,600,000
Sales Agent: Marty Fox – Whitefox
Crowd: 100
Opening Bid: $3,450,000 VB
Passed in: $3,470,000
After Auction: $undisc
Bidders: 1
A high level of anticipation from a 100-strong crowd, but no fireworks, with the property passing in on a lone bid.
GLEN IRIS, 4 Webb Street
SOI: $2,900,000 – $3,100,000
Sales Agent: Jason Brinkworth – Marshall White
Crowd: 20
Opening Bid: $3,000,000 VB
Passed in: $3,000,000 VB
Bidders: 0
Auction opened with a vendor bid of $3,000,000 however bidding activity was not forthcoming, resulting a pass-in on the initial vendor bid.
KEW, 54 Gladstone Street
SOI: $2,300,000 – $2,500,000
Sales Agent: Nick Whyte – Nelson Alexander
Crowd: 40
Opening Bid: $2,200,000 VB
On the Market: $2,330,000
Under the Hammer: $2,437,000
Bidders: 4
This auction had it all: 4 bidders, an auctioneer clearly having a lot of fun, a bid of $500 – sold under the hammer after a long battle.
MALVERN, 19 Eva Street
SOI: $2,500,000 – $2,700,000
Sales Agent: Rachael Fabbro – RT Edgar
Before Auction: $undisc – above range
Bidders: 1
ARMADALE, 40 Lambeth Avenue
SOI: $4,000,000 – $4,400,000
Sales Agent: Anthony Grimwade – RT Edgar
Crowd: 20
Opening Bid: $4,000,000 VB
Passed in: $4,000,000VB
Bidders: 0
Silence filled the air, even after a vendor bid, and the property was passed in.
MALVERN, 25 Johnstone Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Carla Fetter – Jellis Craig
Crowd: 45
Opening Bid: $2,100,000
Passed in: $2,125,000
After Auction: $undisc – within range
Bidders: 1
After some encouragement from Mr McCann, a first bidder entered placing a $25,000 bid. The property was passed in to the sole bidder for $2,125 000.
PRAHRAN, 53 Greville Street
SOI: $3,500,000 – $3,850,000
Sales Agent: Andrew Hayne – Marshall White
Crowd: 40
Opening Bid: $3,500,000
Passed in: $3,500,000 VB
Bidders: 0
Auctioneer Andrew Hayne opened and soon after, passed in the auction, with a single vendor bid.
SOUTH YARRA, 19 Albion Street
SOI: $2,500,000 – $2,750,000
Sales Agent: Phillippe Batters – William Batters
Crowd: 30
Opening Bid: $2,400,000 VB
Passed in: $2,400,000 VB
Bidders: 0
Crowd stood opposite the home in Albion Street. There was no bidding even after an interesting spiel about the history of the home that used to be a dairy. It passed in on a vendor bid.
GLEN IRIS (Stonnington), 12 Grandview Road
SOI: $3,250,000 – $3,500,000
Sales Agent: John Manton – Marshall White
Crowd: 30
Opening Bid: $3,250,000
Passed in: $3,275,000
After Auction: $undisc
Bidders: 1
The auction kicked off with a Vendor Bid of $3,250,000 followed by bidder 1 at $3,275,000. With a half time break and no further bids, the property was formally passed in.
KOOYONG, 21 Monaro Road
SOI: $4,600,000 – $5,000,000
Sales Agent: Michael Armstrong – Jellis Craig
Crowd: 45
Opening Bid: $4,600,000 VB
Passed in: $4,730,000
After Auction: $undisc
Bidders: 2
Gathered in the front yard, Auctioneer Michael Armstrong encouraged bidding from the crowd as two onlookers entered the race. The reserve was not met, and the property was passed in.
PRAHRAN, 13 Mackay Street
SOI: $2,100,000 – $2,300,000
Sales Agent: Dean Gilbert – Marshall White
Crowd: 40
Opening Bid: $2,100,000
Passed in: $2,225,000
Bidders: 2
A vendor bid of $2,100,000 was placed to kick off the auction. Bidder 1 & 2 had a short lived battled which resulted in the property passing in at $2,225,000.
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