oc | Friday 6th December

Market News » Albert Park


$3M+ market stumbles at 2011's first hurdle – except for Brighton

$3M+ market stumbles at 2011's first hurdle – 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 and the main focus for this weekend’s report. We don’t have all this weekend’s numbers in yet, so it’s hard to call, but it [...]
Not a lot to report first day back

Not a lot to report first day back

Key Points: The two big ones over $3m didn’t get a bid – Mary St and Beaconsfield Pde, and the $2m Mary St only had one bidder Off Market – Andrew Stuart gets a big one away in Kerferd Rd for $4,900,000 Agent Q & A: How have you found non-auction sales so far this year? Matt Young, [...]
Very solid today – bidders on all bar one auction we attended

Very solid today – bidders on all bar one auction we attended

Key Points: A big day auction-wise in Port Phillip with more than 20 $m+ properties up for grabs. We reported on seven – four of those were bought under the hammer and one shortly after auction. The biggest sale was at 107 Richardson St, Albert Park (Oliver Bruce, BenMac) which sold under the hammer for $2,322,000, with 5 [...]
Clearance rate still less than 1 in 2. No big sales this week.

Clearance rate still less than 1 in 2. No big sales this week.

Biggest Sale: Elwood, 18 Addison St, Kaine Lanyon (BenMac);  Under the hammer, $1,540,000, 3 bidders “After a slow build up, 18 Addison Street, Elwood had three bidders all keen to make this high rating property their next home. Auctioneer Kaine Lanyon worked hard to dodge the showers and keep the interest of the widely dispersed crowd all [...]
Property vs Shares

Property vs Shares

You may have seen an advertisement recently talking about the benefits of Shares Vs Property. Essentially the advertisement comes to the conclusion that “shares can work harder than property only with a lot less work”. The ad compares the results of investing $31,000 in 1993 either in a diverse range of Australian Shares or used as a [...]
If it’s good it’s selling – and if it’s not, it isn’t

If it’s good it’s selling – and if it’s not, it isn’t

  Key Point There were three bidders at both hammer auctions and none at the two pass ins. Biggest Sale: Elwood 45 Dickens St:  Jason Scillio (Kay & Burton) Under the Hammer, $3,535,000, 3 bidders “A large crowd gathered in the front garden of this magnificent property to hear Jason Scillio provide a well prepared preamble prior to inviting [...]
Bidders Gone Fishin’

Bidders Gone Fishin’

Key Points 284 Albert South Melbourne bought at auction for $2,170,000 Nick Yannopoulos of RT Edgar Many homes on offer today failed to attract any interest Two good $2m+ homes in Park St. St Kilda West  failed to attract a bid BidderBuzz auction of the day 229 Page St, Middle Park, Andrew Stuart, Hocking Stuart, Under the Hammer $1,620,000, 2 [...]
September sees the re-emergence of Melbourne’s $3m+ Market

September sees the re-emergence of Melbourne’s $3m+ Market

September Executive Summary: Demand: Solid and increasing Reported Boughts: 46 Bidderman: Substantial improvement in bidders per auction at the higher level. Random cross section of bidders. 1/3/2/1/3/1/3/2/2/3/3/3/2/1/0/0 for a month average of 1.875 Supply: New Stock Low Overhang from May however new stock is still light on at end of September and that which comes on at a reasaonble price [...]
SMSFs and the Power of Leverage

SMSFs and the Power of Leverage

In our last article we talked about the possible tax benefits when investing in property through a self managed super fund (SMSF). While taxation is undoubtedly an issue, and holding your investments within the most appropriate tax environments is vital to ensuring you maintain your wealth, today’s article will focus on one of the most [...]
Quiet and not a lot of stock.

Quiet and not a lot of stock.

Key Points: Stock levels lower than last year. A relatively quiet auction day in Port Phillip. Ten homes were bought this week over a $million – with 3 in Port Melbourne, South Melbourne and Elwood We covered three auctions, with only one selling under the hammer – 14 Ruskin St, Elwood (John Carter, Hocking Stuart), $1,200,000. Crowds were down [...]
Port Phillip continues to start Spring like a tortoise.

Port Phillip continues to start Spring like a tortoise.

Key Points: We focused on Albert Park today and there were reasonable bidder numbers across several auctions. However, Port Phillip has still started Spring very slowly. Prices had been falling during Winter and the factors are there for that to continue; especially if any sort of Spring stock level surge is not met by a corresponding increase in bidder numbers – our [...]
No exaggeration to say it was an auction train wreck today. The saving grace was low stock quality.

No exaggeration to say it was an auction train wreck today. The saving grace was low stock quality.

Key Points: None of the auctions we covered in Port Phillip were bought under the hammer this weekend. As of 7pm, only one had been bought post auction. Across five auctions, there were only two bidders in total. On a positive note, 3 out of 3 townhouses/apartments sold at auction around a $million Analysis: This was Spring’s first test [...]
Being an Auctioneer in Albert Park is a casual job. Sell houses in Summer and Hot Pies in Winter.

Being an Auctioneer in Albert Park is a casual job. Sell houses in Summer and Hot Pies in Winter.

Key Points 41 sales for the month of July – only one over $3m. Albert and Middle Park combined reported only six $M+ sales in July Two BidderBuzz Auctions – both with four bidders and both bought under the hammer in the $1.4 millions. 367 Dorcas St with Gerald Betts and 6 Tribe St with Geoff Cayzer. Agent Comments re [...]
Port Phillip – The home of the single fronted and Greg Hocking, who is back playing with a different team.

Port Phillip – The home of the single fronted and Greg Hocking, who is back playing with a different team.

Key Points Market continues to be very quiet on low stock turnover but this as expected this time of the year in Port Phillip. Biggest sale was in Elwood – 4 Pozieres Avenue –  Leonard Persichetti – TBM – $2,345,000 – 3 bidders Five single fronted period homes went to the market today.  They sold between  mid $900,000’s and mid $1,200,000’s Albert Park [...]
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 [...]

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