oc | Friday 6th December

Market News » abercromby


Spring’s first big test – Pass is the mark.

Spring’s first big test – Pass is the mark.
At 6pm on Saturday, the James $M+ Clearance Rate was 65% across the 31 auctions we attended – a solid result. The Weekly Review Bidderman was also a very solid 1.8 bidders per auction. There was a fairly even spread of ducks, lone rangers, norms and volcanoes. This weekend was the Spring Market’s First Big Test, with [...]
In August the temperature has risen ever so slightly – warmer at $3m than $6m

In August the temperature has risen ever so slightly – warmer at $3m than $6m

Friday 31st August – 3 from Kay and Burton in Boroondara Camberwell, 60 Broadway, Tim Picken – big land plus tennis court with a home that needed a lot of work. In excess of $4,500,000 Kew, 9 College, Sam Wilkinson, – great internal floor plan – Street and facade Mmmm – Ok. Just under $3,300,000 Canterbury, 31 Chaucer, [...]
Stonnington Weekly

Stonnington Weekly

This week I was asked how are we experiencing the market “out there”? There has been a dearth of family homes on offer in Stonnington and there does not seem to be much new stock coming on. Prospective buyers are there and while some are feeling impatient, most are still prepared to wait for a property [...]
Market picking up, but still lacking depth

Market picking up, but still lacking depth

At 6pm on Saturday, the James $M+ Clearance Rate was 60% across the 30 auctions we attended. The Weekly Review Bidderman was 1.3 bidders per auction. This confirms our view that while the market is looking okay when you look at clearance rates, it is thin on the ground when it comes to bidders. Almost two [...]
Great buying opportunities in the $3m+ Pre Easter Market, even more so than the 3 week season opener just gone.

Great buying opportunities in the $3m+ Pre Easter Market, even more so than the 3 week season opener just gone.

Week Ending 19th March: Off Markets, Forthcoming Auctions and Expressions of Interest are increasing as market stock levels begin to rise dramatically
Stonnington stock on the increase, clearance rates seemingly stable

Stonnington stock on the increase, clearance rates seemingly stable

Key Points: Slightly healthier clearance rate in Stonnington this weekend with 63% on reported $1-million-plus auctions. However, we only saw 1 property sell under the hammer out of the 8 auctions we monitored, with 2 bought before, 2 bought after auction and the other 3 passing in.
Some sustained stock levels and clearance rate easing. But Bidderman is still strong.

Some sustained stock levels and clearance rate easing. But Bidderman is still strong.

Key Points: We covered 11 auctions across Boroondara on Saturday. Of those, 4 sold under the hammer, and 4 were bought after. Bidders on all bar one auction. Big crowd increases. The biggest auction of the day was 42 Wattle Valley Rd, Canterbury (Richard Winneke of Jellis Craig), which had an after-auction sale price in excess of $3,400,000 and [...]
Election. What Election? No effect whatsoever!

Election. What Election? No effect whatsoever!

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 49% for the 37 auctions we attended. By 8pm it was 62% (seemingly a balanced result between buyer and seller). Bidderman, our Demand Indicator, was at 1.6 – a level we feel continues to be a good representation of current demand: borderline – a  market that may be [...]
The Private Sale Clearance Rate in $M+ Melbourne was around 1 in 4 over last 6 weeks. However at auctions this weekend it was ‘even-stevens’ between Buyers and Sellers. Bidderman 2.2

The Private Sale Clearance Rate in $M+ Melbourne was around 1 in 4 over last 6 weeks. However at auctions this weekend it was ‘even-stevens’ between Buyers and Sellers. Bidderman 2.2

At 6pm Saturday the James Clearance Rate on the 22 $M+ Auctions we covered was 59%. Our Demand Indicator Bidderman was 2.2.  Hmmm – an interesting increase but it was off a very low turnover. Today’s Highlights 1)      Bidders were present at 18 of the 22 auctions we covered –  and at three auctions there were 6+bidders 23 [...]
WOW and we said the market was frosty – it’s cooling, but frosty was too harsh. K&B continues the strong results and RT Edgar joins in.

WOW and we said the market was frosty – it’s cooling, but frosty was too harsh. K&B continues the strong results and RT Edgar joins in.

Stonnington was surprisingly strong with Park St South Yarra (Warwick Anderson of RT Edgar) going well past $3,900,000 on multiple bidding; 81 Clendon Road Toorak (Gerald Delany of Kay and Burton) selling post auction north of $7,350,000 and 64 Burke Road Malvern East selling before for 3,320,000 or $1366 per sqm for main road land. The [...]
Are Vendors Getting Ahead of Themselves? South Yarra and Toorak were almost bidder free today.

Are Vendors Getting Ahead of Themselves? South Yarra and Toorak were almost bidder free today.

Of the 11 Stonnington auctions we attended today, four properties sold under the hammer, one before with the balance passed in (one of those six has since been reported as sold). Of the pass ins, five were passed in with no bids (apart from a vendor bid). So are vendors getting ahead of themselves? Let’s first look at what [...]
$2m+ is leveling quickly as buyers become more discerning on price; but $1m+ remains full steam ahead on almost anything!

$2m+ is leveling quickly as buyers become more discerning on price; but $1m+ remains full steam ahead on almost anything!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 36 Auctions we attended today was a solid  75 per cent on good stock numbers. The “frenzy” feel has left the highest of the higher end market for now as the new age businessman and establishment money, who determine the Toorak market, reconsider after (1)    looking at [...]
Inner Melbourne strong and seemingly getting stronger!

Inner Melbourne strong and seemingly getting stronger!

Its been a few weeks since our last update and despite the recent interest rate rises the market broadly is still where we left off – moving upwards. Starting at the Top End of Town in East Melbourne a crowd of 60 strong witness 50 Berry Street pass in on an opening vendor bid of $1.9 [...]
Boroondara marches on!

Boroondara marches on!

After a week or two off for serious buyers and sellers, the market in Boroondara keeps on keeping on, with clearance rates for most agencies around the 85 per cent-plus mark. The weather in Melbourne was perfect today – perhaps the last breath of summer – and there were good people numbers at  auctions and at [...]
Toorak, South Yarra through Malvern, Glen Iris, Malvern East and Armadale

Toorak, South Yarra through Malvern, Glen Iris, Malvern East and Armadale

Around 15 $m+ properties sold at auction today, with the highest reported sale price at 18 Winifred Cres Toorak which sold for $4.21 million. Gerald Delany and Clive Nettlefold of Kay and Burton. Good job, considering most others at this level failed to sell today. Although stronger this week, sellers didn’t have it all [...]

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