How is She?
by Gina Kantzas and Mal James
Photo: Ellen
Kew, 8 Rockingham Close
SOI: $3,300,000 – $3,600,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 100
Opening Bid: $3,000,000
On the Market: $3,500,000
Under the Hammer: $5,100,000
Bidders: Volcano 4
What’s really happening in Top End Melbourne
Welcome to all the fun of the fair that is 2022M3 – the 3rd Major Market of the year (Opening, May, Spring and Christmas).
Today we began collecting data via our 100 Auction Test and over 3 weeks we will see where the Top End auction market is at now.
Our focus is Top End, and we have over the years gradually crept up our minimum to now be, mainly over $2million and only family homes or family home blocks.
History leading into 2022M3 Spring:
- The consensus amongst agents is that the market has fallen around 10% in price expectations (more for reno’s and B/C Graders and less for A-graders) since the Cup Day 2021 last peak.
- We have had 3 falling markets – 2021M4, 2022M1 and 2022M2
- Currently the falls feel like they are abating somewhat, but on very low stock levels, and this is our key Spring analysis focus – to confirm or deny the seemingly positive mood swing coming out of Winter and leading into 2022M3 Spring.
More on Supply and Demand Levels coming out of Winter and into 2022M3 Spring:
- Stock Levels / Supply: Currently it is low compared to previous years (non-pandemic)
- Bidderers (formerly Bidderman but we have gone pc) / Demand: Currently low
- Clearance: Price – shows buyer and seller agreement on price. Currently low, except for the Top of the Top End and true A-Graders.
I may have some egg on my face in 3 weeks time
In a word, today’s Auction market was poor, BUT there wasn’t a lot of exciting stuff to bid on. In fact, we found it hard to find enough auctions to cover, BUT overall, the market was disappointing and negative compared to the last few weeks.
Bidderers (Bidders per auction) was a paltry 1.2 and only two volcanoes. In the isolation of today it implies weakness; 2 in every 3 auctions were a Woody (0 bidders) or a Loner (1 bidder) – and if this remains consistent over the 3 weeks, it will show a lack of depth.
Poor depth means few wounded underbidders, meaning further falls – meaning:
- Sellers need to be smarter than normal and explore your auction alternatives such as Off-market, EOI’s and even Hold.
- Buyers there are A-Grade opportunities now, but they may well dry up if future sellers see weakness and don’t bring their homes to market, this side of Christmas.
- Buy & Sellers – it’s about risk and risk management and process is a key to an extra $500,000 on a $5,000,000 deal. Sell first and know what $ you have but see the new homes you want dry up or you must compete like crazy – look at 8 Rockingham today – volcano and 50%, yes 50% above the on the market price. Buy first and risk a haircut or even an anchor, if you go to auction and not sell, like 45% of the market did today.
Today’s summary – not a great start, however
- The stock was not exciting today. But when it was, it still flew – read our Boroondara analysis on 2 A-Graders.
- Stock is very low and that can distort stats.
- Was today a blip – it felt different from even last week? In market trends there are speed humps and potholes – today was a pothole, despite the fact there were still a lot of people at some opens.
The next two weeks are important for 2022 M3 Spring: and before I admit to being poached by any economists’ eggs (I have given them a shellacking haven’t I) or confirm the potholes are turning into something more, our best practical advice is and has been:
- prior to starting a Buy or Sell or a Buy & Sell, one should have an eye on a Plan B, not just assume a smooth-running Plan A, and even better would be to have a pre-plan of testing multiple options to confirm Plan A or Plan B or even a Plan C, unless a better result doesn’t matter to you.
- Buying or selling don’t stick your head in the sand and hope, for in this market it may get stuck there!
- A good sale or buy price is not just about the Macro market – there are two other markets to consider (Micro PPP and Individual).
Photo: Catherine
Hampton, 2C Gillies Street
SOI: $2,200,000 – $2,400,000
Sales Agent: Robin Parker
Crowd: 80
Opening Bid: $2,300,000 VB
Passed in: $2,310,000
Bidders: Loner 1
James Bayside & Port Phillip Report
Bayside and Port Phillip was a fractured auction market this week.
Of the 12 auctions we covered only 2 were multiple bidder auctions and they contained 50% of all those who put their hand up in Bayside.
5 of the 12 auctions we planned to cover were sold before. Wow! 28 Head Street (James Paynter) confirmed Golden Mile land, back from the beach front, still sells well and at a healthy $ per sqm!
Of the pass-ins only one had sold after and it was passed in well above the quote with 3 bidders so was seemingly a Clayton’s (an oldie but a goodie) pass-in anyway. If you passed in today, it was hard.
The market was cool.
Brighton, 28 Head Street
SOI: $4,000,000 – $4,400,000
Sales Agent: James Paynter – James Paynter Real Estate
Before Auction: $undisc
Bidders: 1
Brighton East, 6 Curzon Street
SOI: $2,100,000 – $2,250,000
Sales Agent: Killiana Jabs – Jellis Craig
Before Auction: $2,290,000
Bidders: 1
Brighton East, 4 Lansdown Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Callum Richardson – Whitefox
Before Auction: $undisc
Bidders: 1
Brighton East, 3 Tregenna Court
SOI: $2,200,000 – $2,350,000
Sales Agent: Matthew Pillios – Marshall White
Before Auction: $undisc
Bidders: 1
Hampton, 19 The Avenue
SOI: $5,000,000 – $5,500,000
Sales Agent: Sarah Kotbel – Nick Johnstone Real Estate
Before Auction: $undisc
Bidders: 1
Elwood, 48 Goldsmith Street
SOI: $3,700,000 – $3,900,000
Sales Agent: Lana Samuels – Whitefox
Crowd: 45
Opening Bid: $3,800,000 VB
Passed in: $3,800,000 VB
Bidders: 0
Vendor opening bid at $3.8m with hesitation amongst the crowd the property was passed in at $3.8m.
Brighton East, 115 Union Street
SOI: $2,700,000 – $2,850,000
Sales Agent: Kate Strickland – Marshall White
Crowd: 70
Opening Bid: $2,700,000 VB
Passed in: $3,180,000
After Auction: $undisc
Bidders: 3
Three bidders fought grimly for the keys. Bidding opened at $2,700,000 on a vendor bid but the three bidders pushed the price to $3,180,000 where the home passed in. Sold shortly afterwards, price undisclosed
Brighton East, 4 Plunket Street
SOI: $3,750,000 – $3,850,000
Sales Agent: Sarah Korbel – Nick Johnstone Real Estate
Crowd: 50
Opening Bid: $3,750,000
On the Market: $4,025,000
Under the Hammer: $4,335,000
Bidders: 3
The auction commenced with an opening bid of $3,750,000. With bids flying back and forth between bidders, it was officially declared on the market at $4,025,000 and later sold to the highest of 3 bidders at $4,335,000.
Brighton, 10 Bleazby Avenue
SOI: $4,200,000 – $4,500,000
Sales Agent: Joel Fredman – Fredman
Crowd: 25
Opening Bid: $4,200,000 VB
Passed in: $4,300,000 VB
Bidders: 0
The property was passed in following 2 vendor bids
Sandringham, 19 Norwood Street
SOI: $2,700,000 – $2,850,000
Sales Agent: Angus Graham – Hodges
Crowd: 20
Opening Bid: $2,700,000
Passed in: $2,700,000
Bidders: 0
The crowd seemed happy to watch and enjoy the lovely sunshine but no bids were offered and the home opened and closed with a vendor bid of $2,700,000
Albert Park, 28 Ashburton Street
SOI: $2,500,000 – $2,700,000
Sales Agent: Callum Richardson – Whitefox
Crowd: 25
Opening Bid: $2,600,000 VB
Passed in: $2,600,000 VB
Bidders: 0
Small crowd consisting of locals and couples. Vendor bid started at $2.6m with no bidders, the property was passed in at $2.6m
Hampton, 2C Gillies Street
SOI: $2,200,000 – $2,400,000
Sales Agent: Robin Parker
Crowd: 80
Opening Bid: $2,300,000 VB
Passed in: $2,310,000
Bidders: 1
Opening with a vendor bid of $2,300,000. An onlooker offered $10,000 and placed themselves in prime position as the home was then passed in for further negotiations.
Photo: Kieran
Hawthorn, 31 Mary Street
SOI: $3,300,000 – $3,600,000
Sales Agent: James Tostevin – Marshall White
Crowd: 50
Opening Bid: $3,300,000
On the Market: $3,500,000
Under the Hammer: $4,010,000
Bidders: Volcano 5
James Boroondara Report
Recently the powerhouse of Melbourne Markets, Boroondara was the only place with some heat in it today.
2 Volcanoes (4+ bidders) and only 2 Woodys (no bidders). Despite that Loner 1 was still the commonest number of Bidders – which is not really an auction is it? A good spattering of after auctions deals, so all in all the Boroondara market was the best and had some heat, but on low auction stock numbers.
The highlight was 8 Rockingham Kew (Scott Patterson) – on the market at $3.4m and sold in a volcanic blaze of glory for $5.1m. What this confirms, is the lifestyle buy at the Top End is still growing in value – we were an underbidder a few years back in this street on something similar at low $3m’s. A-Graders are still holding, even growing.
31 Mary St Hawthorn (James Tostevin) also sold in a volcanic blaze for a whisker over $4m, after being on the market at $3.5m. Ditto to what we said above – a very rare Grace Park block that you can develop, due to limited Heritage issues.
We digress: Once more with feeling re single block Heritage orders – every council that postdates a Heritage order on a single block (not a whole street) should be paying the owner compensation if they do not want that single Heritage order. The reno market is shot to pieces currently but look at the interest in this reno block (31 Mary) simply because it has a limited Heritage order. Single block owners you should fight, even sue your council for around 20% compensation if they try and put a single block Heritage order on your home after you have bought it and you don’t want it – you should have individual property rights.
Camberwell – Withdrawn/Changed Method
Kew, 35 Campbell Street
SOI: $2,600,000 – $2,800,000
Sales Agent: Mark Verrocchi – Nelson Alexander
Before Auction: $undisc
Bidders: 1
Canterbury, 78 Wattle Valley Road
SOI: $2,900,000 – $3,190,000
Sales Agent: Mark Pezzin – Jellis Craig
Crowd: 15
Opening Bid: $2,900,000 VB
Passed in: $2,905,000
Bidders: 1
One bidder eventually spoke up. However, the sole bid of $2,905,000 wasn’t enough to get the property sold, resulting in a pass-in.
Surrey Hills, 4 Albert Street
SOI: $2,750,000 – $2,950,000
Sales Agent: Geordie Dixon – Jellis Craig
Crowd: 40
Opening Bid: $2,700,000 VB
Passed in: $2,760,000
After Auction: $undisc
Bidders: 1
The auctioneer’s efforts to coax any bid from the quiet crowd eventually succeeded, and the property passed in on the lone $10,000 bid. Sold after auction.
Surrey Hills, 3 Mathilde Road
SOI: $2,400,000 – $2,600,000
Sales Agent: Nick O’Halloran – Jellis Craig
Crowd: 25
Opening Bid: $2,450,000 VB
Passed in: $2,450,000 VB
Bidders: 0
Ross Stryker opened and closed the bidding placing a sole vendor bid. The property was passed in on a vendor bid of $2,450,000.
Camberwell, 9 Fairfield Avenue
SOI: $4,000,000 – $4,300,000
Sales Agent: Yili Ma – Belle Property
Crowd: 40
Opening Bid: $4,000,000 VB
Passed in: $4,200,000
Bidders: 1
Two vendor bids were contributed by auctioneer Steve Burke, eventually a bidder chipped in with $4,100,000, followed by a third vendor bid of $4,150,000. Property was passed in at $4,200,000
Camberwell, 25 Green Street
SOI: $2,600,000 – $2,800,000
Sales Agent: Duane Wolowiec – Marshall White
Crowd: 55
Opening Bid: $2,600,000 VB
Passed in: $2,740,000
Bidders: 2
An opening bid of $2,600,000 was placed which was swiftly met by a second bidder. Mr Oster encouraged bids from the crowd but eventually passed the property in to the first bidder for $2,740,000.
Hawthorn, 31 Mary Street
SOI: $3,300,000 – $3,600,000
Sales Agent: James Tostevin – Marshall White
Crowd: 50
Opening Bid: $3,300,000
On the Market: $3,500,000
Under the Hammer: $4,010,000
Bidders: 5
Five bidders throughout and no vendor referral couldn’t discourage a determined first bidder, who remained on top to buy under the hammer.
Kew, 56 Gladstone Street
SOI: $3,300,000 – $3,600,000
Sales Agent: Simon Lord – Jellis Craig
Crowd: 40
Opening Bid: $2,600,000 VB
On the Market: $2,930,000
Under the Hammer: $3,174,000
Bidders: 3
Rapid bidding activity from 3 bidders quickly took the price to $2,930,000, when it was declared on the market. After two bidders dropped out, the hammer fell at $3,174,000.
Kew, 8 Rockingham Close
SOI: $3,300,000 – $3,600,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 100
Opening Bid: $3,000,000
On the Market: $3,500,000
Under the Hammer: $5,100,000
Bidders: 4
A first bidder was swift, placing an opening bid of $3,000,000 which was met by a second bidder, putting the property on the market with a bid of $3,500,000. Two more bidders joined the race placing multiple bids of $100,000, with the third bidder purchasing the property for $5,100,000.
Deepdene, 7 Crest Avenue
SOI: $2,700,000 – $2,900,000
Sales Agent: Jeff Phillip – RT Edgar
Crowd: 70
Opening Bid: $2,700,000
Passed in: $2,750,000
Bidders: 0
Auctioneer Paul Walker commenced with two vendor bids, however, there was only silence in return, resulting in a pass-in on a vendor bid of $2,750,000.
Kew, 62 Argyle Road
SOI: $3,000,000 – $3,300,000
Sales Agent: Scott Patterson
Crowd: 80
Opening Bid: $3,000,000 VB
On the Market: $3,400,000
Under the Hammer: $3,710,000
Bidders: 3
Scott Patterson opened with a $3,000,000 vendor bid; soon there was a prolonged bidding war between three parties, rapidly escalating the price to $3,710,000, where the property sold under the hammer.
Camberwell, 11 Holyrood Street
SOI: $2,500,000 – $2,700,000
Sales Agent: Jonathon O’Donoghue – Jellis Craig
Crowd: 70
Opening Bid: $2,500,000 VB
Passed in: $2,575,000
After Auction: $undisc
Bidders: 1
One bidder’s answers to the two vendor bids were the extent of the action, and the property was passed in. Sold After.
Hawthorn, 1 Wattle Road
SOI: $3,400,000 – $3,700,000
Sales Agent: Sam Christensen – Anton Zhouk Real Estate
Crowd: 60
Opening Bid: $3,400,000
Passed in: $3,400,000
After Auction: $undisc
Bidders: 1
A single, genuine opening bid was enough to secure the top spot, and the property was passed in.
Photo: Sim
Malvern, 98 Stanhope Street
SOI: $3,100,000 – $3,400,000
Crowd: 40
Opening Bid: $3,250,000 VB
Passed in: $3,250,000 VB
Bidders: Woody 0
James Stonnington Report
Like the footy – everybody in Stonnington took the week off. Zero to report and that may be the case for some time – auctions are as popular as Collingwood supporters in Carlton and EOI’s are now as trendy as boat shoes in Sorrento (how good is the Stringers restaurant!!).
Toorak – Withdrawn/Changed Method
Malvern East, 40 Albert Street
SOI: $2,400,000 – $2,600,000
Sales Agent: Daniel Wheeler – Marshall White
Crowd: 50
Opening Bid: $2,400,000 VB
Passed in: $2,425,000
After Auction: $undisc
Bidders: 1
One bidder joined the action before negotiations moved inside. The home was sold after auction.
Malvern, 98 Stanhope Street
SOI: $3,100,000 – $3,400,000
Sales Agent: John Morrisby – Jellis Craig
Crowd: 40
Opening Bid: $3,250,000 VB
Passed in: $3,250,000 VB
Bidders: 0
The auction was opened and closed with one vendor bid.
Malvern East, 35 Summerhill Avenue
SOI: $3,750,000 – $4,000,000
Sales Agent: John Manton – Marshall White
Crowd: 20
Opening Bid: $3,750,000 VB
Passed in: $3,770,000
After auction: $undisc
Bidders: 1
Just as the home was about to pass in, one bidder placed a bid and the negotiations continued. Sold After auction.
Malvern, 5a Lysterville Avenue
SOI: $2,000,000 – $2,200,000
Sales Agent: Matthew Coombs
Crowd: 30
Opening Bid: $2,100,000 VB
Passed in: $2,100,000 VB
Bidders: 0
With a vendor bid placed of $2,100,000 and no further bids from the crowd, the home was formally passed in.
Photo: Sim
Malvern East, 40 Albert Street
SOI: $2,400,000 – $2,600,000
Sales Agent: Daniel Wheeler – Marshall White
Crowd: 50
Opening Bid: $2,400,000 VB
Passed in: $2,425,000
After Auction: $undisc
Bidders: Loner 1
Auction Bidder Breakdowns
Woodducks (0 bidders) and Loners
(1 bidder) made up 2 of every 3 auctions
Only 2 in 30 auctions today were Volcanoes. That is icy.
20% of all auctions today were bought before
Only 1 in 5 homes were sold under the hammer today. Very few real auctions as we know them. 4 in 5 auctions weren’t really auctions!
1 in 2 or 50% of auctions that were on the street were pass-ins. Agents didn’t always have the upper hand with many not selling afterwards.
Measurements
There are 3 markets we focus on when buying or selling a home.
- Macro – what is happening in the wider market
- Micro – what is happening in a specific price range or location or home type – PPP’s
- Individual – What is happening on the one sale with specific agent, buyers, presentation, luck, asking price and so on.
What we focus on in the 100 Auction Test are the Macro and Micro. For the Macro we look at three demand and supply measurements.
- Stock Levels or Supply: Currently it is very low
- Bidderers (formerly Bidderman but we have gone pc) or Demand: Currently low
- Clearance Rates: Shows buyer and seller agreement on price. Currently low
MACRO MARKET
SPRING 2021 M3
2.5
LOW
90%
MAY 2022 M2
1.4
LOW
68%
SPRING 2022 M3
?
LOW
?
AUGUST 27
1.2
LOW
55%
SEP 3
SEP 10
MICRO PPP MARKETS
BAYSIDE
COOL
STONNINGTON
FROST
BOORONDARA
WARM
INDIVIDUAL SPRING MARKETS
EXPRESSIONS OF INTEREST
OFF-MARKET
AUCTIONS
Brighton, 28 Head Street
SOI: $4,000,000 – $4,400,000
Sales Agent: James Paynter – James Paynter Real Estate
Before Auction: $undisc
Bidders: 1
Brighton East, 6 Curzon Street
SOI: $2,100,000 – $2,250,000
Sales Agent: Killiana Jabs – Jellis Craig
Before Auction: $2,290,000
Bidders: 1
Brighton East, 4 Lansdown Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Callum Richardson – Whitefox
Before Auction: $undisc
Bidders: 1
Brighton East, 3 Tregenna Court
SOI: $2,200,000 – $2,350,000
Sales Agent: Matthew Pillios – Marshall White
Before Auction: $undisc
Bidders: 1
Hampton, 19 The Avenue
SOI: $5,000,000 – $5,500,000
Sales Agent: Sarah Kotbel – Nick Johnstone Real Estate
Before Auction: $undisc
Bidders: 1
Elwood, 48 Goldsmith Street
SOI: $3,700,000 – $3,900,000
Sales Agent: Lana Samuels – Whitefox
Crowd: 45
Opening Bid: $3,800,000 VB
Passed in: $3,800,000 VB
Bidders: 0
Vendor opening bid at $3.8m with hesitation amongst the crowd the property was passed in at $3.8m.
Brighton East, 115 Union Street
SOI: $2,700,000 – $2,850,000
Sales Agent: Kate Strickland – Marshall White
Crowd: 70
Opening Bid: $2,700,000 VB
Passed in: $3,180,000
After Auction: $undisc
Bidders: 3
Three bidders fought grimly for the keys. Bidding opened at $2,700,000 on a vendor bid but the three bidders pushed the price to $3,180,000 where the home passed in. Sold shortly afterwards, price undisclosed
Brighton East, 4 Plunket Street
SOI: $3,750,000 – $3,850,000
Sales Agent: Sarah Korbel – Nick Johnstone Real Estate
Crowd: 50
Opening Bid: $3,750,000
On the Market: $4,025,000
Under the Hammer: $4,335,000
Bidders: 3
The auction commenced with an opening bid of $3,750,000. With bids flying back and forth between bidders, it was officially declared on the market at $4,025,000 and later sold to the highest of 3 bidders at $4,335,000.
Brighton, 10 Bleazby Avenue
SOI: $4,200,000 – $4,500,000
Sales Agent: Joel Fredman – Fredman
Crowd: 25
Opening Bid: $4,200,000 VB
Passed in: $4,300,000 VB
Bidders: 0
The property was passed in following 2 vendor bids
Sandringham, 19 Norwood Street
SOI: $2,700,000 – $2,850,000
Sales Agent: Angus Graham – Hodges
Crowd: 20
Opening Bid: $2,700,000
Passed in: $2,700,000
Bidders: 0
The crowd seemed happy to watch and enjoy the lovely sunshine but no bids were offered and the home opened and closed with a vendor bid of $2,700,000
Albert Park, 28 Ashburton Street
SOI: $2,500,000 – $2,700,000
Sales Agent: Callum Richardson – Whitefox
Crowd: 25
Opening Bid: $2,600,000 VB
Passed in: $2,600,000 VB
Bidders: 0
Small crowd consisting of locals and couples. Vendor bid started at $2.6m with no bidders, the property was passed in at $2.6m
Hampton, 2C Gillies Street
SOI: $2,200,000 – $2,400,000
Sales Agent: Robin Parker
Crowd: 80
Opening Bid: $2,300,000 VB
Passed in: $2,310,000
Bidders: 1
Opening with a vendor bid of $2,300,000. An onlooker offered $10,000 and placed themselves in prime position as the home was then passed in for further negotiations.
Camberwell – Withdrawn/Changed Method
Kew, 35 Campbell Street
SOI: $2,600,000 – $2,800,000
Sales Agent: Mark Verrocchi – Nelson Alexander
Before Auction: $undisc
Bidders: 1
Canterbury, 78 Wattle Valley Road
SOI: $2,900,000 – $3,190,000
Sales Agent: Mark Pezzin – Jellis Craig
Crowd: 15
Opening Bid: $2,900,000 VB
Passed in: $2,905,000
Bidders: 1
One bidder eventually spoke up. However, the sole bid of $2,905,000 wasn’t enough to get the property sold, resulting in a pass-in.
Surrey Hills, 4 Albert Street
SOI: $2,750,000 – $2,950,000
Sales Agent: Geordie Dixon – Jellis Craig
Crowd: 40
Opening Bid: $2,700,000 VB
Passed in: $2,760,000
After Auction: $undisc
Bidders: 1
The auctioneer’s efforts to coax any bid from the quiet crowd eventually succeeded, and the property passed in on the lone $10,000 bid. Sold after auction.
Surrey Hills, 3 Mathilde Road
SOI: $2,400,000 – $2,600,000
Sales Agent: Nick O’Halloran – Jellis Craig
Crowd: 25
Opening Bid: $2,450,000 VB
Passed in: $2,450,000 VB
Bidders: 0
Ross Stryker opened and closed the bidding placing a sole vendor bid. The property was passed in on a vendor bid of $2,450,000.
Camberwell, 9 Fairfield Avenue
SOI: $4,000,000 – $4,300,000
Sales Agent: Yili Ma – Belle Property
Crowd: 40
Opening Bid: $4,000,000 VB
Passed in: $4,200,000
Bidders: 1
Two vendor bids were contributed by auctioneer Steve Burke, eventually a bidder chipped in with $4,100,000, followed by a third vendor bid of $4,150,000. Property was passed in at $4,200,000
Camberwell, 25 Green Street
SOI: $2,600,000 – $2,800,000
Sales Agent: Duane Wolowiec – Marshall White
Crowd: 55
Opening Bid: $2,600,000 VB
Passed in: $2,740,000
Bidders: 2
An opening bid of $2,600,000 was placed which was swiftly met by a second bidder. Mr Oster encouraged bids from the crowd but eventually passed the property in to the first bidder for $2,740,000.
Hawthorn, 31 Mary Street
SOI: $3,300,000 – $3,600,000
Sales Agent: James Tostevin – Marshall White
Crowd: 50
Opening Bid: $3,300,000
On the Market: $3,500,000
Under the Hammer: $4,010,000
Bidders: 5
Five bidders throughout and no vendor referral couldn’t discourage a determined first bidder, who remained on top to buy under the hammer.
Kew, 56 Gladstone Street
SOI: $3,300,000 – $3,600,000
Sales Agent: Simon Lord – Jellis Craig
Crowd: 40
Opening Bid: $2,600,000 VB
On the Market: $2,930,000
Under the Hammer: $3,174,000
Bidders: 3
Rapid bidding activity from 3 bidders quickly took the price to $2,930,000, when it was declared on the market. After two bidders dropped out, the hammer fell at $3,174,000.
Kew, 8 Rockingham Close
SOI: $3,300,000 – $3,600,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 100
Opening Bid: $3,000,000
On the Market: $3,500,000
Under the Hammer: $5,100,000
Bidders: 4
A first bidder was swift, placing an opening bid of $3,000,000 which was met by a second bidder, putting the property on the market with a bid of $3,500,000. Two more bidders joined the race placing multiple bids of $100,000, with the third bidder purchasing the property for $5,100,000.
Deepdene, 7 Crest Avenue
SOI: $2,700,000 – $2,900,000
Sales Agent: Jeff Phillip – RT Edgar
Crowd: 70
Opening Bid: $2,700,000
Passed in: $2,750,000
Bidders: 0
Auctioneer Paul Walker commenced with two vendor bids, however, there was only silence in return, resulting in a pass-in on a vendor bid of $2,750,000.
Kew, 62 Argyle Road
SOI: $3,000,000 – $3,300,000
Sales Agent: Scott Patterson
Crowd: 80
Opening Bid: $3,000,000 VB
On the Market: $3,400,000
Under the Hammer: $3,710,000
Bidders: 3
Scott Patterson opened with a $3,000,000 vendor bid; soon there was a prolonged bidding war between three parties, rapidly escalating the price to $3,710,000, where the property sold under the hammer.
Camberwell, 11 Holyrood Street
SOI: $2,500,000 – $2,700,000
Sales Agent: Jonathon O’Donoghue – Jellis Craig
Crowd: 70
Opening Bid: $2,500,000 VB
Passed in: $2,575,000
After Auction: $undisc
Bidders: 1
One bidder’s answers to the two vendor bids were the extent of the action, and the property was passed in. Sold After.
Hawthorn, 1 Wattle Road
SOI: $3,400,000 – $3,700,000
Sales Agent: Sam Christensen – Anton Zhouk Real Estate
Crowd: 60
Opening Bid: $3,400,000
Passed in: $3,400,000
After Auction: $undisc
Bidders: 1
A single, genuine opening bid was enough to secure the top spot, and the property was passed in.
Toorak – Withdrawn/Changed Method
Malvern East, 40 Albert Street
SOI: $2,400,000 – $2,600,000
Sales Agent: Daniel Wheeler – Marshall White
Crowd: 50
Opening Bid: $2,400,000 VB
Passed in: $2,425,000
After Auction: $undisc
Bidders: 1
One bidder joined the action before negotiations moved inside. The home was sold after auction.
Malvern, 98 Stanhope Street
SOI: $3,100,000 – $3,400,000
Sales Agent: John Morrisby – Jellis Craig
Crowd: 40
Opening Bid: $3,250,000 VB
Passed in: $3,250,000 VB
Bidders: 0
The auction was opened and closed with one vendor bid.
Malvern East, 35 Summerhill Avenue
SOI: $3,750,000 – $4,000,000
Sales Agent: John Manton – Marshall White
Crowd: 20
Opening Bid: $3,750,000 VB
Passed in: $3,770,000
After auction: $undisc
Bidders: 1
Just as the home was about to pass in, one bidder placed a bid and the negotiations continued. Sold After auction.
Malvern, 5a Lysterville Avenue
SOI: $2,000,000 – $2,200,000
Sales Agent: Matthew Coombs
Crowd: 30
Opening Bid: $2,100,000 VB
Passed in: $2,100,000 VB
Bidders: 0
With a vendor bid placed of $2,100,000 and no further bids from the crowd, the home was formally passed in.
In tougher markets, you need to be innovative. We offered $15k out of our fee to any agent who could get the number our client wanted. Will Maxted – stepped up to the plate, job done and additional incentive paid to the commission Max would normally receive.
Three Cheers for Kay and Burton - No Watermark
Is it just us or do you find it annoying and distracting to see an agent logo watermarked on a classic shot of a home you are selling or buying? Now we love self-promotion more than almost anybody else, but we do not put watermarks on the pictures of the homes we sell at James Buy Sell and neither does Kay & Burton.
It takes your eye away from the singular power focus of a great shot. It’s wrong.
If it gets up your goat as much as it does ours – insist the agency DOES NOT put their logo all over your wonderful home visuals. After all, it’s about your home, not us agents and you are paying for the photos!
There you go, another bit of self-promotion with our moniker all over it!!!
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