oc | Thursday 23rd January

Market News » Assess


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, [...]
Stock Levels continue to increase, however 32 properties over $1 million bought today

Stock Levels continue to increase, however 32 properties over $1 million bought today

Key Points: Both Jellis Craig and Marshall White report very strong clearance rates into the 80s Stock continues to come onto the pre Easter market – the question is whether the market will be able to sustain this James Tostevin: “Overall a good day, the $3m+ market is hard to read and we are not getting huge numbers [...]
Placing a value on a building

Placing a value on a building

Valuing land is difficult enough, but there are even more variables when it comes to getting a consistent opinion of the market value of an actual building. We always counsel long term passive investors to buy purely on land value, or to buy proven populist homes like Victorians and Edwardians as opposed to new homes.  Why? Buildings [...]
Putting a Price on Land Value

Putting a Price on Land Value

Market value is useful when considering capital growth, however unlike with the share market, the market value of a property is often more a concept than an exact figure – and everybody has their own ‘recipe’ for how to go about it. But there are three consistent ‘ingredients’, that agents use to get a sense [...]
How to Find Out Market Value

How to Find Out Market Value

While the value you place on a property is ultimately the most important factor in influencing what you are prepared to pay, you also want to know its market value. But how do you know what that is? Is there some secret market value formula? No there is no single definitive “sticker price” market value figure [...]
Auction shocker today – but Super Saturday unsolds mopping up well.

Auction shocker today – but Super Saturday unsolds mopping up well.

Key Points: We attended seven Bayside auctions, with only one selling under the hammer In Bayside since Super Saturday we’ve seen some good activity, especially in Brighton. This graph (click on to enlarge) shows the clean-up of unsold stock in the last two weeks. We believe the 50% clearance rate figure for Bayside is being dragged [...]
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 [...]
Get Organised for the next Super Saturday – October 23rd

Get Organised for the next Super Saturday – October 23rd

The big news this week for homebuyers was not Gary Ablett or the GF Replay; it was the major stock inflows that took place on Monday, Tuesday and Wednesday when agents began their marketing campaigns for the next Super Saturday - October 23rd. Check out the size of the Weekly Review this week. While one weekend does not make a summer, we now seem to have finally started the Spring surge. Prior to the Grand Final(s) stock was particularly low and prices were definitely beginning to firm on the back of this.
C’mon let’s get on with it – there are homes to buy!

C’mon let’s get on with it – there are homes to buy!

This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year. Hopefully, this will help you as [...]
C’mon let’s get on with it – there are homes to buy!

C’mon let’s get on with it – there are homes to buy!

This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year. Hopefully, this will help you as [...]
C’mon let’s get on with it – there are homes to buy!

C’mon let’s get on with it – there are homes to buy!

This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year. Hopefully, this will help you as [...]
C’mon let’s get on with it – there are homes to buy!

C’mon let’s get on with it – there are homes to buy!

This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year. Hopefully, this will help you as [...]
Waving not drowning – even some bidding. Things seem to be balancing back (a bit) over the last fortnight.

Waving not drowning – even some bidding. Things seem to be balancing back (a bit) over the last fortnight.

Stonnington seems to have got itself back into the game with a second “OK, sort of – almost normal” auction week in the 60’s clearance rate wise. We monitored 23 homes of which 15 were bought; that’s a 65% clearance rate (last week 69%). Of the auctions we  attended 7 of the 10 were bought. What’s happening? Price reduction is [...]
The numbers show things are happening and something may be coming; but that something may be nothing more than a breather. Buying Opportunities in the $2m to $4m range.

The numbers show things are happening and something may be coming; but that something may be nothing more than a breather. Buying Opportunities in the $2m to $4m range.

It’s 6pm Saturday and the James million-dollar-plus Clearance Rate on the 41 auctions we attended today was 61%. Bidderman is 1.7 and it seems to have found a momentary level of some strength on large numbers of auctions. We monitored 174 $million sales across 56 Melbourne suburbs. Overall Clearance rate is 60% for those 174 auctions and in [...]
The Auction Method is under real pressure. Vendors will be asking for new ideas soon as another week of low clearances hits Port Phillip

The Auction Method is under real pressure. Vendors will be asking for new ideas soon as another week of low clearances hits Port Phillip

With Bidderman less than 1 – meaning more auctions than bidders  – it may be time for a change of scenery for Port Phillip auctioneers unless things turn very quickly or they can come up with some new ideas. And the post auction sales are not happening either according to reported REIV results, so a [...]

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