oc | Friday 6th December

Market News » Albert Park


Today we go on a tour of 50 of Melbourne’s $Million+ Auctions. In 2010, this is what is really happening in Melbourne!

Today we go on a tour of 50 of Melbourne’s $Million+ Auctions. In 2010, this is what is really happening in Melbourne!
It is 6pm and the James Million Dollar+ Clearance rate from the 47 Auctions we attended today was 83 per cent. This week, we are focusing purely on the market, as it is the first major quality offering since late 2009. Next week is Labour Day (no Market News) and then it’s only three weekends of [...]
2010 is going to be your year of the good decision

2010 is going to be your year of the good decision

It’s 6pm and the James million-dollar-plus clearance rate is 83% on the 30 auctions we attended. Bidderman was 3.0 per auction with only 4 from 30 auctions attracting no Bidderman and 7 from 30 auctions attracting Bidderman 6 or more. The highlight of today’s auctions was a $7 million sale at 14 Scotsburn Grove Toorak selling [...]
Bayside – Beaumaris, Brighton to Port Melbourne and a bit more

Bayside – Beaumaris, Brighton to Port Melbourne and a bit more

Just another quiet week (not) in Brighton with 13 reported sales over $1m. Big increase in Bidderman at auction: 2.6 Some follow up to previous weekend’s passed in auctions – two sold privately during the week; the first at 49 William St, Brighton (Phillip Mellody Buxton), where they seemed to be thinking $3.5m, had a vendor bid of $2.95m last [...]
Beaumaris, Brighton to Port Melbourne – Along the Bay and in a bit

Beaumaris, Brighton to Port Melbourne – Along the Bay and in a bit

Bayside had some strong results, although it was the quietest area for sales of $m+; so overall it was mixed. Good agents are recognising that results are mixed in inner and outer Bayside and this is proven with six sold before auction. Also of note were four apartment sales over $1 million in [...]
In the trenches: report on million-dollar Melbourne

In the trenches: report on million-dollar Melbourne

It is 6pm Saturday and the James Auction Clearance Rate on the 32 $1m+ properties we attended and reported on today was 72 per cent. The REIV’s clearance rate was declared at 82 per cent but they are missing around 200 auction results and our guess is the clearance rate has dropped below 80 per [...]
Bidderman did not miss a beat today – still at 2.3 bidders per auction.

Bidderman did not miss a beat today – still at 2.3 bidders per auction.

It is 6pm Saturday and the James Clearance Rate for million-dollar-plus auctions is 74 per cent on the 19 auctions we attended and reported on today. What effect did the interest rates have this weekend? Nil. The only thing we noticed was a few more bought befores, maybe meaning a couple of nervous vendors. We saw 51 [...]
It is time to hit the Button?

It is time to hit the Button?

It’s 6pm Saturday and the James Clearance Rate for million-dollar-plus auctions is 68 per cent on the 19 auctions we attended today. In this week’s Market Wraps, we are most appreciative of the time and effort Scott Patterson of Jellis Craig (Boroondara), Iain Carmichael of Bennison Mackinnon (Stonnington) and David Hart of Buxton (Bayside) put [...]
Covering Beaumaris through Brighton to Port Melbourne in $1m+ homes

Covering Beaumaris through Brighton to Port Melbourne in $1m+ homes

Approaching 80 per cent of the 18 reported auction results for Bayside this weekend – that is as strong as it has been all year. 25 Orchard Street Brighton – Trudy Biggin of Biggin and Scott James Home Rating and Comments: 577 out of 1000. Land only, or is there some value in this [...]
Covering Beaumaris through Brighton to Port Melbourne in $1m+ homes

Covering Beaumaris through Brighton to Port Melbourne in $1m+ homes

Bayside was alive with the sound of keys changing hands. Well, except for 6 First Point at Port Melbourne – beachfront. Our auction report: A large crowd of about 90 people turned out for this auction. Auctioneer David Wood of Hocking Stuart opened with a vendor bid of $4.75 million but there were no [...]
News on Brighton and surrounds through to Albert Park

News on Brighton and surrounds through to Albert Park

107 Ruskin Street Elwood, Peter Kennett of Hocking Stuart. James Home Rating: 797/1000. Great street and the top part of Elwood. Close to beach, shops and has a lovely tree-lined feel. Want to be clear that car parking is OK out the back, although shows a carport on plan.
Bumber Bayside School Holiday Wrap

Bumber Bayside School Holiday Wrap

Two really strong auctions in Bayside yesterday 43 Victoria Sandringham with Buxton’s Mark Earle and Bill Jowett.  5+ bidders – selling under the hammer for $3,350,000 (2700 sq metres of land, with no restrictions and a bulldozer home – which the new owner will do). This means prime Sandringham land (non beachfront) [...]
Covering Albert Park, St Kilda, Elwood, Brighton, Hampton and Sandringham $1m+ homes

Covering Albert Park, St Kilda, Elwood, Brighton, Hampton and Sandringham $1m+ homes

Hocking Stuart’s Peter Kennett stated he had four auctions today and 18 bidders in total. Let Hocking Stuart’s Barb Gregory tell us about the story of the lady in Sydney who, on Saturday morning, was eating porridge when she had a thought about 10 Murph y St Brighton. This is a home she [...]
News of Albert Park, Elwood, Brighton, Hampton and surrounds.

News of Albert Park, Elwood, Brighton, Hampton and surrounds.

Brighton still has more than 100 $1 million-plus properties up on the net for sale and that is double the combined number for Hawthorn and Kew at this level. So stock levels or, more succinctly, unsold stock levels are the main reason why Bayside is seeing the weakest of the price [...]
Looking at Caulfield, McKinnon, Bentleigh, Carnegie and surrounds.

Looking at Caulfield, McKinnon, Bentleigh, Carnegie and surrounds.

Interesting to attend yesterday’s auction at 9 Crozier McKinnon. This was the biggest sale we can remember since 23 Hall St McKinnon last year, which sold under the hammer at $1.56 million. While the Melbourne jewels of Albert Park, Brighton and, in particular, Hawthorn and Toorak are showing price increases – some [...]
Agent auction quoting seems OK for now. But some individuals are still pushing the boundaries.

Agent auction quoting seems OK for now. But some individuals are still pushing the boundaries.

We thought it would be timely to take a snapshot of how we are finding selling agents’ quotes. In a rising market, it’s easy to fall back on old habits; however, we think, on yesterday’s results, that most of the major companies are making an attempt to improve their auction quoting standards. Now, before you think we [...]

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