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Market News » Albert Park


The Top End has definitely picked up (in activity – not price) – after Easter new stock is low

The Top End has definitely picked up (in activity – not price) – after Easter new stock is low
Saturday March 31st: Solid finish to the month – partly as a result of vendors lowering their expectations as they feel the market may get worse before it gets better, partly due to some good stock and partly because buyers can’t really see anything of note on the market after Easter. But to keep some perspective [...]
By any measure it was a slow start to 2012 at the upper level!

By any measure it was a slow start to 2012 at the upper level!

As we come to the end of February most of the work we are involved in at this price level is off market or pre market – meaning not advertised or not yet advertised (and may not be). However two really good properties, currently beginning public selling campaigns (we have been through and rated), should [...]
A really positive day in Port Phillip – solid market – good activity.

A really positive day in Port Phillip – solid market – good activity.

Elwood 20A Docker – Justin Follett – Sold before Auction – in fact in week one of the campaign. Quote $2,000,000 plus – bought for $2,500,000- interstate buyer. Elwood 16 Wave – Chisholm and Gamon and Pride Real Estate. On the market since Christmas and sold this week. Good home, just had to get the price [...]
Unlike many areas on Saturday, Port Phillip had a bit of action this weekend

Unlike many areas on Saturday, Port Phillip had a bit of action this weekend

Matthew Young, Buxton (St Kilda): “The weekend of the 21st and 28th of May are looking to be Super Saturdays.
Buyers sit on the fence, hands in pockets.

Buyers sit on the fence, hands in pockets.

At 6pm on Saturday the James Clearance rate for $M+ was 57% on the 30 auctions we attended. That was well down on last week’s cameo of excitement, but understandable giving the quality change between this week and last week at the Top End. Bidderman, our demand indicator, was 1.5 bidders per auction. However the quality [...]
Despite Grand Prix and Easter there has been a bit of action in Port Phillip this month

Despite Grand Prix and Easter there has been a bit of action in Port Phillip this month

St Kilda, 367 Beaconsfield, a ripper property, finally sold with Andrew Macmillan for about half the initial very ambitious asking price after a long time on the market, with a number of different campaigns and agents. Albert Park, 62 Barrett St (Peter Simmons) a  three bedroom Victorian single fronted with parking, showed that if the quality is [...]
Thinking about a break rather than bidding

Thinking about a break rather than bidding

Quiet day for us all this weekend at the million dollar level. Has been a great year for buyers so far, long may it continue. Have a safe and happy Easter and enjoy the time with your family – Kristen. John Clarkson, Hocking Stuart, Brighton: “Certainly buyers will not feel as dominant post Easter due to [...]
Not a lot of excitement with Grand Prix finishing and Easter starting

Not a lot of excitement with Grand Prix finishing and Easter starting

Agent Q & A : How does current pricing compare with the same time last year? Nick Yannopoulos, RT Edgar, Albert Park: “The intensity at auctions and buyer enquiry has certainly dropped over the last year particularly in the top end of the market. However outstanding homes in premier locations are still going strong as it [...]
New stock is limited and being taken up by auction buyers

New stock is limited and being taken up by auction buyers

Key Points: There is not a lot of new stock on offer due to Grand Prix interruptions and now we have Easter approaching so lean times for new offerings. Nothing approaching or over $2m reported as bought in the last week. Damian O’Sullivan, Marshall White, Albert Park: “We feel the market is very balanced at the moment as [...]
Properties Struggling to Move after Passing In

Properties Struggling to Move after Passing In

At 6pm on Saturday, the James Clearance Rate on the 31 auctions we covered was 58%. Bidderman, our demand indicator of average bidders per auction, had a small rise to 1.6 bidders per auction, in part due to four volcanoes (strong auctions) including one 7 bidder auction in 28 Barrington St Kew. These figures indicate that the [...]
With the Grand Prix – 3 sell out of only 4 key $M+ auctions

With the Grand Prix – 3 sell out of only 4 key $M+ auctions

Agent Q & A: Has the market changed since before Labour Day weekend? Kaine Lanyon, Marshall White, Albert Park: “We haven’t noticed or sensed any change in the market since prior to the Labour Day weekend.  The overall market appears to be quite well balanced. That is, well and fairly priced property is transacting consistently, [...]
Buying a home when there are kids in the picture

Buying a home when there are kids in the picture

The inner suburbs of Bayside, such as Elwood, Albert Park and Port Melbourne, are great places to live when you are footloose and child-free. But what if you’ve got plans to have kids down the track? Being able to walk to the local Turtle cafe in Elwood and take a short tram ride on No 79 through [...]
Very solid with 13 from 17 being bought today or 76% Clearance

Very solid with 13 from 17 being bought today or 76% Clearance

Key Points: Port Phillip the star performer today and especially solid in that early one million bracket Bidder depth would be best described as shallow except for the Volcano (4+ bidder auction) at 76 Blessington St St Kilda with Greg Hocking – see report below Agent Q & A:“What is your take on the Economist’s article that Australian [...]
So-so weekend, but stock wasn’t that exciting. Wow on Howe – Big $6m+ sale.

So-so weekend, but stock wasn’t that exciting. Wow on Howe – Big $6m+ sale.

Key Points: The overpriced are as cold as ice in Port Phillip right now. No bites, no action – as evidenced by the pass-ins of yesterday and the first two weeks of this market. Overall the year has started better than anticipated but pass-in vendors will need to adjust if they want to attract buyers. I went to [...]
$3M+ market February market was a bit flat  – except for Brighton

$3M+ market February market was a bit flat – except for Brighton

Week Ending February 26th: If last week was the season opener for the $1m+ auction market, then this week was the beginning of the $3m+ auction market

Inside James Market News