May M2 Market starts with more volcanoes than ducks

Saturday, May 11th, 2024
HAWTHORN, 14 Robinson Road SOI: $2,650,000 - $2,850,000 Sales Agent: Nicholas Franzmann – Marshall White Crowd: 40 Opening Bid: $2,600,000 VB On market: $2,810,000 Under the hammer: $2,900,000 Bidders: 5 Photo: Jo

Mal James 

Buy Sell Agent

0408 107 988   

mal@james.net.au

By every metric it has started stronger than it finished in the opening market in Feb/March.

 

It started stronger than expected.

 

Boroondara and Bayside was above expectations in terms of bidder numbers and clearance. Stonnington had very auctions over $2m.

 

It has for two years been rare that you had had more volcanoes than ducks ……. But we did today and ducks were very low at only 4 from 29 auctions.

Opening Market 2024 M1 Week 3

Bidderman
1.5
Stock
Average
Clearance
72%
Auctions Attended
29
Volcanoes
14%
Ducks
21%

May Market 2024 M2 Week 1 Today

Bidderman
2.0
Stock
Average
Clearance
76%
Auctions Attended
29
Volcanoes
17%
Ducks
14%

HAMPTON CLASSIC HOME FOR SALE NOW

4 Bedrooms, 3 Bathrooms, 2 Car Spaces

Close to Beach, Private Schools, Ready to move-in, Nothing to do + Pool
Flexible Settlement. Contracts available. Private 1 on 1 viewings 
Shelter By The Bay: Simone Clarke (0400 304 111) Zali Reynolds (0422 576 049)  Mal James (0408 107 988)

'Round the Auction Grounds This Week

ASHBURTON, 7 Maxwell Street SOI: $2,700,000 - $2,970,000 Sales Agent: Jesse Matthews – Marshall White Crowd: 50 Opening Bid: $2,700,000 VB On market: $3,100,000 Under the hammer: $3,125,000 Bidders: 2 Photo: Randall

2024M1 BAYSIDE

Bidderman
1.7
Stock
Average
Clearance
77%

2024M1 BOROONDARA

Bidderman
2.3
Stock
Average
Clearance
83%

2024M1 STONNINGTON

Bidderman
2
Stock
Average
Clearance
50%

Lets hear from our reporters on the ground today

Out and about in Port Phillip and Stonnington today, the auctions were a bit like the autumn weather—blowing hot and cold. My three auctions featured move-in-ready family homes, yet only one sold under the hammer. Large crowds gathered at each auction; however, most were there just to watch, with only one auction raising the heart rate. This was at the modern home located at 15 Mountfield Street, Malvern East. Three bidders, with bids ranging from $1,000 to $150,000, raced and then crawled to the final bid. There was a round of applause from the crowd and tears from the under-bidders as the hammer fell.

Today's snapshot of Boroondara had a bit of everything. I attended three completely different auctions: a "volcano" with a crowd atmosphere more akin to a boxing match than a property sale, a "duck" where a lonely tumbleweed wouldn't have been out of place, and a "squeaker" with a slow burn. While it would have made for an easy write-up if things had all gone one way or the other today, the market had other ideas. The hot and cold auras between auctions kept me guessing at the results, but the buzz before the "volcano" hinted at the upcoming fireworks.

Today, two auctions in Melbourne showcased starkly different atmospheres and outcomes. The first, at 21 Valentine Grove, Armadale, drew a crowd of 40, mostly curious neighbors. The atmosphere was subdued; after an initial vendor bid, the auctioneer, Joseph Ben-Danan, tried to energize the silent crowd, but only one bid was made before the property was passed in. Conversations among the crowd quietly resumed. In contrast, the auction at 74C Burke Road, Malvern East had a smaller but more intense crowd of 30. Auctioneer Walter Summons highlighted the local amenities and lifestyle, energizing the attendees. This resulted in vigorous bidding among the potential buyers, with small but fierce bids, and the competition palpable. Ultimately, one bidder prevailed, leaving two couples disappointed. This reflected a rare vibrancy in Melbourne's real estate scene.

Today didn't echo the rallying cry of markets past when 10 people might clamor for a block of land and $100,000 bids on family homes were a regular occurrence. With the summer vibe behind us, the feeling at the start of each auction, while not one of exuberance, was that buyers were present, at least at the auctions I attended. Bidders didn’t appear urgent. They weren’t apprehensive; "steady and measured" would be a fair description. They reached their limit and stopped. There were no hard-fought tussles. Bidding was comfortable up to the reserves and a bit beyond, and that was it. Auctioneers were happy not to linger.

State of the market, is it a butterfly or is it a bee? There’s bidders on the ground, it felt good to pick out the buyers from the crowd. The houses are there, and they are being bought - but the buzz is lacking. It feels like the bottom of the market; there’s “one bid” buyers watching to see if they can pick up something cheap. I thought the houses sold today went on the low side of my price expectations. And while cheap is never “cheap” in bayside, I mean, cheaper than in a frothy market. Maybe people are tired of life, a little jaded and uncertain? The market to me on first blush looked like pep but didn’t feel like it had any step behind it.

Biggest Auction Sale Today

CANTERBURY, 88 Mont Albert Road SOI: $4,600,000 - $5,060,000 Sales Agent: Sophie Su – Kay & Burton Crowd: 100 Opening Bid: $4,600,000 On market: $5,120,000 Under the hammer: $5,900,000 Bidders: 5 Photo: Kieran
BY THE BAY - BAYSIDE & PORT PHILLIP

2024 M1 Opening Market

Bidderman
1.2
Stock
Average
Clearance
64%

2024 M2 May Market Today

Bidderman
1.7
Stock
Average
Clearance
77%
HAMPTON, 3 Teddington Road SOI: $2,200,000 - $2,310,000 Sales Agent: Nick Johnstone – Nick Johnstone Real Estate Crowd: 100 Opening Bid: $2,200,000 VB On market: $2,250,000 Under the hammer: $2,460,000 Bidders: 3 Photo: Catherine

Bayside/ Port Phillip – 13 auctions

Clearance: 77%

Bidderman: 1.69

 

BRIGHTON, 15 Moffat Street

SOI: $3,500,000 – $3,800,000

Sales Agent: Simon Wheeler – Buxton

Before auction: $undisc

Bidders: 1

 

BRIGHTON, 3 Meek Street

SOI: $4,400,000 – $4,700,000

Sales Agent: Campbell Butterss – Marshall White

Before auction: $undisc

Bidders: 1

 

BRIGHTON, 5 Lynch Street

SOI: $3,400,000 – $3,550,000

Sales Agent: Kate Strickland – Marshall White

Before auction: $undisc

Bidders: 1

 

MIDDLE PARK, 59 Park Road

SOI: $6,000,000 – $6,600,000

Sales Agent: Ben Manolitsas – Marshall White

Before auction: $undisc

Bidders: 1

 

ALBERT PARK, 47 Merton Street

SOI: $3,300,000 – $3,600,000

Sales Agent: James Nicolaou – James Nicolaou

Before auction: $undisc

Bidders: 1

 

HAMPTON, 24 Villeroy Street

SOI: $2,800,000 – $2,900,000

Sales Agent: Jenny Dwyer – Belle Property

Crowd: 60

Opening Bid: $2,800,000

On market: $3,075,000

Under the hammer: $3,250,000

Bidders: 4

Steve Tickell from is on the stage at 24 Villeroy street Hampton, where four bidders take the genuine opening bid of $2,800,000 past the reserve of $3,075,000 and on to a sale of $3,250,000.

 

HAMPTON, 3 Teddington Road

SOI: $2,200,000 – $2,310,000

Sales Agent: Nick Johnstone – Nick Johnstone Real Estate

Crowd: 100

Opening Bid: $2,200,000 VB

On market: $2,250,000

Under the hammer: $2,460,000

Bidders: 3

Nick Johnstone doesn’t waste any time getting matters underway in the auction today, although three parties are determined to thwart his pacey repartee. Without delay he opens the bidding on behalf of the vendor at $2,200,000, two bidders take it past the reserve of $2,250,000 and the third bidder joins the mix to bring a sale of $2,460,000 with much celebration from the large extended family bolstering the audience of about 100 people lining the street.

 

HAMPTON, 30 Imbros Street

SOI: $2,600,000 – $2,750,000

Sales Agent: Jenny Dwyer – Belle Property

Crowd: 40

Opening Bid: $2,600,000

On market: $2,780,000

Under the hammer: $2,871,000

Bidders: 4

Families gathered in the leafy street to battle out for this home. After a silent starts, hands flew. It seemed like everyone wanted this home to be there. It ended up in $1,000 bids and eventually sold to bidder 3. 

 

HAMPTON, 12 Earlsfield Road

SOI: $2,200,000 – $2,400,000

Sales Agent: Robin Parker – Marshall White

Crowd: 50

Opening Bid: $2,200,000 VB

Passed in: $2,325,000

After auction: $2,420,000

Bidders: 4

Four bidders are encouraged by Robin Parker at the auction of 12 Earlsfield road, Hampton, as he opens with a vendor bid of $2,200,000. However the home is passed in at $2,325,000, and the winning bidder ushered inside for further negotiations. Sold after.

 

BRIGHTON, 15 Rothesay Avenue

SOI: $5,500,000 – $5,800,000

Sales Agent: Matthew Pillios – Kay & Burton

Crowd: 40

Opening Bid: $5,650,000 VB

Passed in: $5,700,000

Bidders: 1

About 40 people gather in the cup de sac to see Matthew Pillios offer the home at 15 Rothesay avenue Brighton for competition. There’s just one bidder who tops the opening vendor bid of $5,650,000 with a $50,000 rise and the home is passed in to him for further negotiations.

 

MIDDLE PARK, 18 Fraser Street

SOI: $3,400,000 – $3,640,000

Sales Agent: Oliver Bruce – Marshall White

Crowd: 85

Opening Bid: $3,500,000 VB

Passed in: $3,700,000 VB

Bidders: 0

The property was passed in and the large, quiet crowd dispersed.

 

SANDRINGHAM, 25 Sandringham Road

SOI: $2,500,000 – $2,700,000

Sales Agent: Scott Hamilton – Buxton

Crowd: 25

Opening Bid: $2,500,000

Passed in: $2,610,000

After auction: $undisc

Bidders: 1

A small crowd gather around the home to see Christian Hegarty offer it for competition and bidder one offers an opening bid of $2,500,000. A vendor bid is placed above it of $2,600,000, and bidder one obliges with an additional $10,000 however the home is passed in to her at $2,610,000 and everyone retreats from the cold afternoon wind.

 

SOUTH MELBOURNE, 24 Tribe Street

SOI: $2,500,000 – $2,650,000

Sales Agent: Max Mecuri – Jellis Craig

Crowd: 15

Opening Bid: $2,300,000 VB

Passed in: $2,300,000 VB

Bidders: 0

Small crowd with no bidding. The property passed in, with no one wanting the exclusive right to treat with the vendors. 

Introducing Shelter by the bay Buyer Bank

These are buyers who have come across our off markets we are selling at Shelter By The Bay AND we have not been able to satisfy their needs. If you have a home that may fit below, please contact our agent directly. We will respect your privacy and these buyers we know to be genuine. Thank you for helping our buyers and possibly yourselves.

HAMPTON GOLDEN TRIANGLE: Looking for family home, budget $8m to $9m, land over 1400 swm or room for a court.

BRIGHTON EAST: Local family loooking for a ready to move in bigger home with a budget of $5m - needs to be close to schools.

BOROONDARA

2024 M1 Opening Market​

Bidderman
1.8
Stock
Average
Clearance
61%

2024 M2 May Market Today

Bidderman
2.3
Stock
Average
Clearance
83%
HAWTHORN EAST, 15 Cole Street SOI: $3,100,000 - $3,400,000 Sales Agent: Sam Christensen – Anton Zhouk Crowd: 65 Opening Bid: $3,100,000 VB On market: $3,420,000 Under the hammer: $3,460,000 Bidders: 3 Photo: Randall

Boroondara – 12 auctions

Clearance: 83%

Bidderman: 2.25

 

 

KEW, 45 Belmont Avenue

SOI: $4,900,000 – $5,300,000

Sales Agent: Hamish Tostevin – Marshall White

Before auction: $undisc

Bidders: 1

 

CAMBERWELL, 10 Mabel Street  

SOI: $3,000,000 – $3,300,000

Sales Agent: Desiree Wakim – Marshall White

Before auction: $3,885,000

Bidders: 1

 

HAWTHORN EAST, 15 Cole Street  

SOI: $3,100,000 – $3,400,000

Sales Agent: Sam Christensen – Anton Zhouk

Crowd: 65

Opening Bid: $3,100,000 VB

On market: $3,420,000

Under the hammer: $3,460,000

Bidders: 3

1980s build sees bidders waiting for a pause before showing hands. Three in at the restart steadily build to an “on the market” call.

 

HAWTHORN, 14 Robinson Road

SOI: $2,650,000 – $2,850,000

Sales Agent: Nicholas Franzmann – Marshall White

Crowd: 40

Opening Bid: $2,600,000 VB

On market: $2,810,000

Under the hammer: $2,900,000

Bidders: 5

Auction started off quiet, prompting auctioneer Doug MacLauchlan to open with a $2,600,000 vendor bid, then bidder 1 jumped in with $2,620,000, followed by four more bidders. Rapid fire bidding took the price to $2,810,000 where it was declared on the market, before the eventual sale price of $2,900,000. 

 

CANTERBURY, 88 Mont Albert Road

SOI: $4,600,000 – $5,060,000

Sales Agent: Sophie Su – Kay & Burton

Crowd: 100

Opening Bid: $4,600,000

On market: $5,120,000

Under the hammer: $5,900,000

Bidders: 5

The expectant buzz before the auction opened heralded a breakneck series of bids. Attempted knockouts did little to eliminate competition. On-the-market being a foregone conclusion, the bidding stopped at $5,900,000 and the property was sold.

 

HAWTHORN, 7 Carrington Street  

SOI: $2,700,000 – $2,900,000

Sales Agent: Hugo Rouffignac – Marshall White

Crowd: 70

Opening Bid: $2,700,000 VB

On market: $2,930,000

Under the hammer: $3,066,000

Bidders: 3

Auctioneer Andrew Gibbons opened with a vendor bid of $2,700,000; this encouraged three bidders to come forward with their offers. A frenzied bidding war brought the hammer down at $3,066,000.

 

ASHBURTON, 7 Maxwell Street

SOI: $2,700,000 – $2,970,000

Sales Agent: Jesse Matthews – Marshall White

Crowd: 50

Opening Bid: $2,700,000 VB

On market: $3,100,000

Under the hammer: $3,125,000

Bidders: 2

It took a while for two bidders to warm to the task. Once they did get going rises moved quickly to $3,000,000 and beyond. Wrapped up swiftly by the auctioneer when bidding reached $3,125,000

 

HAWTHORN EAST, 30 Leura Grove

SOI: $3,800,000 – $4,100,000

Sales Agent: Richard Winneke – Jellis Craig

Crowd: 40

Opening Bid: $3,450,000

On market: $3,760,000

Under the hammer: $4,060,000

Bidders: 3

After a slow start, two bidders emerged to bring the property on the market. A late third entrant snatched the keys.

 

CAMBERWELL, 4 St Andries Street

SOI: $4,100,000 – $4,500,000

Sales Agent: Mark Read – Jellis Craig

Crowd: 50

Opening Bid: $4,100,000 VB

Passed in: $4,200,000

After auction: $undisc

Bidders: 0

Open and closed on vendor bids with potential bidders waiting until after the auction. Sold after.

 

SURREY HILLS, 17 Kingston Road

SOI: $2,100,000 – $2,300,000

Sales Agent: James Tostevin – Marshall White

Crowd: 50

Opening Bid: $2,150,000 VB

Passed in: $2,150,000 VB

Bidders: 0

Auctioneer James Tostevin opened with a $2,150,000 vendor bid but was met with silence. After an interval, he returned to further encourage activity from the 50-strong crowd, but without success, causing the property to be passed in. 

 

SURREY HILLS, 51 Broughton Road

SOI: $2,200,000 – $2,400,000

Sales Agent: Tim Heavyside – Heavyside

Crowd: 40

Opening Bid: $2,200,000

Passed in: $2,250,000 VB

Bidders: 1

An opening bid followed by a vendor bid at “two and a quarter” and then all falls quiet. Passed in.

 

CAMBERWELL, 15 Fairholm Grove

SOI: $2,800,000 – $3,000,000

Sales Agent: Jonathon O’Donoghue – Jellis Craig

Crowd: 50

Opening Bid: $2,400,000

Passed in: $2,660,000

After auction: $2,755,000

Bidders: 3

Straight out of the gate, Bidder 1 opened with $2,400,000 but a lull in activity then lead to an interval. Two more bidders entered the fray, however, their combined activity wasn’t enough to meet the reserve, therefore the property was passed in. Sold after.

9 EVANS ROAD KEW

STONNINGTON

2024 M1 Opening Market​

Bidderman
1.3
Stock
Average
Clearance
64%

2024 M2 May Market Today

Bidderman
2
Stock
Average
Clearance
50%
MALVERN EAST, 57 Ardrie Road SOI: $4,000,000 - $4,400,000 Sales Agent: Daniel Wheeler – Marshall White Crowd: 90 Opening Bid: $4,000,000 VB Passed in: $4,025,000 Bidders: 1 Photos: Kathy

Stonnington – 4 auctions

Clearance: 50%

Bidderman: 2

 

MALVERN EAST, 74C Burke Road

SOI: $2,450,000 – $2,650,000

Sales Agent: Walter Summons – Belle

Crowd: 30

Opening Bid: $2,450,000

On market: $2,750,000

Under the hammer: $2,801,000

Bidders: 3

Auctioneer Walter Summons had barely finished his introduction when an opening bid was placed for $2,450,000. Two more bidders joined the race resulting in a final bidding war of $1000 bids before the property sold to Bidder Three for $2,801,000. 

 

MALVERN EAST, 15 Mountfield Avenue

SOI: $3,300,000 – $3,600,000

Sales Agent: Ash Howarth – Marshall White

Crowd: 85

Opening Bid: $3,300,000 VB

On market: $3,800,000

Under the hammer: $4,100,000

Bidders: 3

After an initial quiet start, three bidders raised their hands at 15 Mountfield Avenue today. Bidder two was tenacious and after bids ranging from $1000 to $150,000, secured the keys to a round of applause.

 

MALVERN EAST, 57 Ardrie Road

SOI: $4,000,000 – $4,400,000

Sales Agent: Daniel Wheeler – Marshall White

Crowd: 90

Opening Bid: $4,000,000 VB

Passed in: $4,025,000

Bidders: 1

The rustling of leaves was the only sound when Auctioneer Daniel Wheeler called for bids. After a quick break and another call for bids, the property was passed into the sole bidder.

 

ARMADALE, 21 Valentine Grove

SOI: $2,000,000 – $2,200,000

Sales Agent: David Volpato – Marshall White

Crowd: 40

Opening Bid: $2,000,000

Passed in: $2,025,000

Bidders: 1

Auctioneer Joseph Ben-Danan welcomed a crowd of 40 to the auction of 21 Valentine Grove Armadale. Mr Ben-Danan opened the bidding placing a vendor bid of $2,000,000. The property was passed in to the sole bidder for $2,025 000. 

Definitions & Data Points