oc | Sunday 26th January

Market News » Assess


Market change – we know it has, so why is the next question. Is it supply up (shorter term) or demand down (longer term)?

Market change – we know it has, so why is the next question. Is it supply up (shorter term) or demand down (longer term)?
Its 6.00 pm Saturday and the James $Million+ Clearance Rate on the 36 auctions we attended was 64%. Interestingly, 20 of the auctions initially passed in. Therefore we witnessed an under the hammer clearance rate of 41% – obviously a number were bought almost immediately afterwards. Bidderman is up from 1.5 last week to 1.8 bidders per auction this [...]
Is Help On the Way? We hope so, but don’t think it’s coming in a hurry!

Is Help On the Way? We hope so, but don’t think it’s coming in a hurry!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 38 Auctions we attended today was 74%; basically no change on the 77% ( pre Easter Super Saturday -March 27). Bidderman was down from to 3 to 2.3 bidders per auction but that is still very strong all things considered (stock quality and Easter holidays). Market Mood Today was [...]
The Million dollar plus market still has some very strong results; but we are seeing a slight easing of demand continuing on the overpriced or less than perfect.

The Million dollar plus market still has some very strong results; but we are seeing a slight easing of demand continuing on the overpriced or less than perfect.

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 27 Auctions we attended today was 65 per cent. Bidderman remained steady at 2 bidders per auction. However 1 in 3 of the auctions we attended today had no bidders. 33% of auctions (on OK James rated homes) had no bidders under the hammer today!! If you look [...]
James Bidderman

James Bidderman

Who is James Bidderman? Each week we attend and report on a wide range of $million plus auctions from all around inner Melbourne. As part of our auction coverage, we collect valuable information and use it to form opinions on the state of the property market. You might like to think of them as Key Performance [...]
Subdued today – but let’s wait and see over the next three weeks.

Subdued today – but let’s wait and see over the next three weeks.

It is 6pm Saturday and the James Auction Clearance Rate on the 20 $1 million-plus properties we attended and reported on today was 55 per cent. If you exclude the three sold befores, then, at auction, we saw a 23 per cent clearance rate under the hammer. Wormie the Price Worm is to the right and [...]
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 [...]
Property science and laws

Property science and laws

It’s 6pm Saturday and the James Clearance Rate for million-dollar-plus auctions is 84 per cent on the 25 auctions we attended today. The market today (Saturday) was again very, very strong. In fact, this is one of our biggest ever clearance rates for $1m+ homes. This, despite stock increasing and interest rate talk. Still [...]
Camberwell, Kew, Hawthorn, Canterbury, Hawthorn East, Surrey Hills and Glen Iris

Camberwell, Kew, Hawthorn, Canterbury, Hawthorn East, Surrey Hills and Glen Iris

312 and 314 Cotham Kew: a big parcel of land sold through Walter Dodich of Marshall White for $3.42 million or $1800 per sq metre on just over 1900 sq metres, which does appear to show that, in this case, on Cotham Road you get a significant discount per sq metre [...]
Markets, talking price and late bids.

Markets, talking price and late bids.

It’s 6pm Saturday and the James Clearance Rate for million-dollar-plus auctions is 60 per cent on the 20 auctions we attended but that may change by Sunday. The market today (Saturday) was again strong across the board but crowd numbers continue to drop and there was a 40 per cent pass-in rate at [...]
The market may be changing but you still need to bid to buy.

The market may be changing but you still need to bid to buy.

It’s 6pm Saturday and the James Clearance Rate for million-dollar-plus auctions is 66 per cent on the 18 auctions we attended. The market is gyrating and still full of some incredibly strong sellers’ results but we feel it could be turning, or at least altering the incline of its recent ascent. Why? Stock levels are definitely [...]
Nobody ever truly buys at market – if market is the buyers common view

Nobody ever truly buys at market – if market is the buyers common view

It's Saturday at 6.00 pm and the James Clearance Rate for $m+ auctions is 70% on the 20 auctions we attended. While there were some incredibly strong results, we are still looking to see if there is any relief in sight. Auction crowd numbers are easing (a smidge). Bidderman in November/December last year was 0.8 per auction; then May and June of this year Bidderman was over 3.2 bidders per auction and today Bidderman was at 2 bidders per auction on million dollar plus properties. Although there were a number of 4 bidder auctions there were also a number of 1 bidder auctions. Granted no surprise pass-ins but it is something to monitor.
Price should not be a noun; it should be a verb. Price is a living, breathing thing.

Price should not be a noun; it should be a verb. Price is a living, breathing thing.

It’s 6pm and the James Clearance Rate for million-dollar-plus homes is another 70 per cent on the 20 auctions we attended today and will rise overnight. The picture above is of the guiding hand of James Connell from Marshall White as he works the crowd at today’s 2 Selwyn Court Toorak auction. Is that [...]
Peter Small discusses the developers’ market – more confidence seems to be creeping in.

Peter Small discusses the developers’ market – more confidence seems to be creeping in.

Recently, I caught up with Peter Small, the regional director of Urbis, a property advisory company that employs more than 200 people and has offices in Melbourne, Brisbane, Sydney, Perth and Dubai. Over coffee at The Pantry in Brighton, we discussed the developers’ market. Peter believes more confidence is coming back into [...]
Sam Gamon from Elwood’s Chisholm and Gamon

Sam Gamon from Elwood’s Chisholm and Gamon

Sam Gamon is one of the most enthusiastic young auctioneers we have met. Noisy, alive and full of corny jokes (really corny). But he does get the job done.  Chisholm and Gamon have a bit of a stranglehold on Elwood and, if you are dealing in property in this area, then Sam will, [...]
Commentary and Case Study with Glen Coutinho from Hocking Stuart

Commentary and Case Study with Glen Coutinho from Hocking Stuart

The Boardroom Auction is back on the agenda. There are traps, pitfalls and strategies required with a boardroom auction. However, in many ways, a properly conducted boardroom auction is a transparent way to conduct business. The jury seems to be out on whether or not a boardroom auction is covered by [...]

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