oc | Thursday 12th December

Market News » Armadale


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
Small numbers of $M+ auctions today – although plenty of Top End non auction stock available

Small numbers of $M+ auctions today – although plenty of Top End non auction stock available

Key Points: Toorak 17 Lansell with Lisa Jarrett of Abercrombys sold mid week after being on the market since late last year Toorak 16 Cole St with Nicole Gleeson of Kay and Burton sold mid week after being on the market since late last year Agent Q & A: Has the market changed since before Labour Day weekend? Lachlan Fraser-Smith, [...]
At 64% the fickle Stonnington is holding its own at auction – however a number of big ones are not getting sold through other methods of sale

At 64% the fickle Stonnington is holding its own at auction – however a number of big ones are not getting sold through other methods of sale

Key Points: Off Markets, Forthcoming Auctions and Expressions of Interest are increasing as market stock levels begin to rise dramatically. Nobody bid at the 19 Kingston St Malvern East auction (Iain Carmichael) at $4,250,000 but 2 bidders emerged post auction and fought it out afterwards to a price well in excess of the reserve and well in [...]
Where the big action was this weekend – 7 sales over $3m this week – 70% Clearance Rate.

Where the big action was this weekend – 7 sales over $3m this week – 70% Clearance Rate.

Key Points: It’s all about the bigger deals this week: Malvern 19 Hamilton – Justin Long – At Auction – $4,357,000 Malvern 66 Claremont – Iain Carmichael – At Auction – $3,700,000 Toorak 9 Ross – Justin Long – Auction – over $3,600,000 Toorak – 3 Teringa – Andrew(s) McCann and Macmillan of Benmac – post last weeks auction [...]
Stock Surge Dilutes Bidder Numbers

Stock Surge Dilutes Bidder Numbers

At 6pm on Saturday the James $M+ Clearance Rate on the 32 auctions we covered dipped to 59%. For the second week in a row there were around 150 new $M+ listings in our main coverage area of Bayside and the Inner East. Buyers have firmly said to sellers – “if it ain’t priced right [...]
$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
$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 [...]
Today was just a warm up and the market responded as well as it could

Today was just a warm up and the market responded as well as it could

Key Points: You can only buy what’s on offer, and a 61% clearance rate in last year’s Stonnington terms was a solid start The market was only tested in the lower echelons of price and seems unlikely to really be tested at $3m+ for some time as there appears to be minimal action in this price [...]
Bumper last edition for 2010 – and we leave the market looking balanced and healthy.

Bumper last edition for 2010 – and we leave the market looking balanced and healthy.

At 6pm on Saturday the final James $M+ Clearance rate for the year on the 35 auctions we covered was 69%. You may be interested to remember that back in our first Marketnews report for 2010 it was 83%. Those figures point to the year that was. Bidderman, our demand indicator, was a strong 2.1 bidders per [...]
Felt the bounce here stronger than anywhere else

Felt the bounce here stronger than anywhere else

Key Points: I personally went to 8 auctions in Stonnington today – five were bought. Bidderman at the auctions I went to (7, 3, 7, 0, 4, 0, 4, 3) Agent chatter has been more upbeat this week than at any other time this Spring 376 Glenferrie Road Malvern with Iain Carmichael of Benmac – bought on Sunday [...]
Up, down and now back up this week. Next week?

Up, down and now back up this week. Next week?

Week Ending November 27th: The high end ($3m+) which like the proverbial brides nightie (not sure if I can say that) is up and down at the drop of a hat. A fortnight ago it was up and last week it was down – this week it was up and in a [...]
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.
Armadale awash with $2m to $3m homes.

Armadale awash with $2m to $3m homes.

Key Points: The big issue of the last two weeks week is what is happening in wash up after the Toorak – Malvern debacle on Super Saturday. To recap on Super Saturday’s result: In Stonnington, of the nine auctions we witnessed on Super Saturday, none sold under the hammer, and the final Clearance Rate was 46%. Bayside’s [...]
Super Saturday showed that Stonnington has lost its way.

Super Saturday showed that Stonnington has lost its way.

Key Points: 7 of the 9 Stonnington auctions we attended had no bidders at all, while the remaining two had only one bidder each and this was on a good quality stock day. While there were 18 buys over $1 million, remember that $1 million is entry level here. Why is the Stonnington market so poor? Our left-field and [...]
Mixed at 55% this weekend – but we do have next week to look forward to

Mixed at 55% this weekend – but we do have next week to look forward to

Key Points: Of the eight Stonnington auctions we attended, only two were bought under the hammer – 19 Karma Ave, Malvern East (Karl Fitch, Noel Jones), for $1,241,000, and 1 Nareeb Crt, Toorak, (Jeremy Fox, RT Edgar), for $2,710,000. Karma Ave had five bidders, but there were only five bidders in total across the remaining seven [...]

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