oc | Friday 6th December

Market News » Armadale


Kay and Burton strong month says the market is not dead yet in Trak town!

Kay and Burton strong month says the market is not dead yet in Trak town!
  In Toorak and South Yarra it was 50% at auctions today – which actually wasn’t that bad when compared to the last few weeks. Stonnington today had a reported clearance rate including Glen Iris over $1m of 66% (12 from 18). Not a lot to be taken from specific results today except to say that [...]
Do we now have three types of auction vendors? Clearance rate below 29% on reported South Yarra and Toorak auctions!

Do we now have three types of auction vendors? Clearance rate below 29% on reported South Yarra and Toorak auctions!

We were scheduled to cover 36 auctions in many suburbs this weekend and 5 properties were bought before auction. The number of pre-sales has been slowly increasing recently and may reflect an emerging group of vendors who have become concerned/ realistic about the price to be obtained at the auction. The price obtained with a pre-auction sale will [...]
Only thing dropping in Stonnington is the Toorak median price statistic – but we haven’t seen too many prices dropping though. Confusing!

Only thing dropping in Stonnington is the Toorak median price statistic – but we haven’t seen too many prices dropping though. Confusing!

I remember when I was at university, one of my text books was “ How to Lie with Statistics”. Well if you read this morning’s press you will have seen that house prices in Toorak were reported  to have dropped by just over 7% in the first quarter of this year. However, it’s hard to [...]
Stonnington Wrap – A week is a long time in Real Estate

Stonnington Wrap – A week is a long time in Real Estate

The doom-sayers will be quiet for a while after some very good results in the area this week. Of the 10 auctions we attended this Saturday, 8 sold under the hammer while 2 were passed in. The outstanding results were 16 Mercer Rd Armadale ( where some additional capital will be required to renovate) which saw [...]
In the words of Oscar Wilde any talk of the market’s death was greatly exaggerated. Wow what an incredibly powerful market day for $million+ homes and this was local not overseas buying strength.

In the words of Oscar Wilde any talk of the market’s death was greatly exaggerated. Wow what an incredibly powerful market day for $million+ homes and this was local not overseas buying strength.

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 39 Auctions we attended today was 77 per cent and we have no late REIV results so could be higher. Bidderman was well up at 3 bidders per auction and any talk from us of the last two weeks looking a bit soft has been well and [...]
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 [...]
Toorak, South Yarra, Malvern, Glen Iris, Malvern East and Armadale

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

Strong day, seven out of seven auctions we attended sold. Bidderman 2.3 After Kay and Burton’s incredible run of big sales, it’s the RT Edgar story today. 10 Avalon Armadale has finally sold for just over $4m which is well short of where it was first offered at. Great location, but a very difficult block for light and [...]
Toorak, South Yarra through Malvern, Glen Iris, Malvern East and Armadale

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

Stonnington was mostly “ON” today with Tim, Robert and Jock of Abercrombys getting the two strongest results away. 4-6 Vincent St Glen Iris selling for over $4m and 3 Auburn Grove in Armadale going for just over $3m. The latter a particular good selling result and I acknowledges I was wrong [...]
Toorak, South Yarra through Malvern, Glen Iris, Malvern East and Armadale

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

Leaving out Glen Iris – talked about that in Boroondara wrap – we saw 24 $m campaigns this week with a seller disconcerting 10 passed in at auction. That is a clearance rate of 58% and the main reason the overall James Clearance Rate is as weak as it is today. Why? Price is why? Many vendors [...]
Last week just looked like a blip for sellers – strong today for the right home!

Last week just looked like a blip for sellers – strong today for the right home!

It is 6pm Saturday and the James Auction Clearance Rate on the 22 $1 million-plus properties we attended and reported on today was a very strong 86 per cent. Last week was subdued but today was not – bang! Seemingly on the way back, in most instances, to where we left off pre-Melbourne Cup. Women are [...]
South Yarra, Prahran, Toorak, Armadale, Malvern and Malvern East

South Yarra, Prahran, Toorak, Armadale, Malvern and Malvern East

Little to report on the $m front interest after a huge October for most Stonnington agents. Plenty of choice over the next 3 weeks with 24 and 29 Auctions $1m auctions planned for the last 2 weeks in November. Private Sales 36 Heyington Place Toorak was sold by Tom Staughton and Mike Gibson of Kay and Burton. Assuming a complete [...]
Mixed results but overall still strong.

Mixed results but overall still strong.

Surprisingly Malvern East’s Gasgoine Estate was dead as a doornail today with 3 pass-ins from 3 homes (0% clearance); as was Toorak with only 1 from 5 selling or 20% clearance rate but everywhere else was very strong. Overall Stonnington which covers Armadale, Malvern, Malvern East, South Yarra, Toorak and we include [...]
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 [...]
Bidders, Bidders, Bidders

Bidders, Bidders, Bidders

There are a huge number of auctions and private sales in Stonnington this week and next week. The most dominating number is 3.875 – that is the average bidders at auctions we reported on below. 31 bidders at 8 auctions. Stock has increased and bidders numbers have actually risen substantially. Here are [...]
Well done Bennison Mackinnon

Well done Bennison Mackinnon

Well done, Iain Carmichael. Well done, Richard Mackinnon. Well done to all directors of Bennison Mackinnon Armadale. Have you noticed a change in the air in Stonnington, have you noticed the new hot Armadale company to sell your home through? Bennison Mackinnon. They have taken a stance on buyer respect and it seems [...]

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