oc | Tuesday 21st January

Market News » bennison mackinnon


It’s only one week – but Stonnington was the big improver today.

It’s only one week – but Stonnington was the big improver today.
Key Points: Only two from the nine we attended were bought under the hammer, however five from the nine were bought after auction Big improvement on Clearance Rates on reasonable number of monitored auctions (21 $M+) $3m+ sales this week: 1 Myamyn Street, Armadale – Andrew Macmillan of Bennison Mackinnon ($3,215,000) 6 Bonview Road, Malvern – Peter Bennison of Marshall White (0ver $3,600,000) 1 [...]
Brighton’s $3m+ market moves out of the doldrums – for this week anyway. Longer term the jury is still out!

Brighton’s $3m+ market moves out of the doldrums – for this week anyway. Longer term the jury is still out!

August has seen a bit more noise in the $3m+ market and deals are seemingly back on the agenda at this price level. In Ivanhoe two bidders fought it out for over a million dollars to get to the $4,300,000 result, as the above picture states  – a full $800,000 over a fair and reasonable reserve. [...]
Stock is coming on – prices are going where….?

Stock is coming on – prices are going where….?

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 50% for the 38 auctions we attended. Of note is the fact that only 1 in 4 sold under the hammer. On Sunday the post-auction clearance rate rose to 66% on all 61 monitored properties. That tells us that the market is right on the brink, but [...]
This is a Market Performing Differently at Different Price Points

This is a Market Performing Differently at Different Price Points

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 59% for the 31 auctions we attended. Bidderman was at 1.5 – a more representative number than last week’s 2.2 we think.  Main Points: A significant, but largely expected, drop in activity and dollar value 3 Longstaff Kew East – sold by Glen Coutinho of Hocking Stuart, had a [...]
Just ticking along – very few big sales reported. The TOP of the TOP end is not happening like it was.

Just ticking along – very few big sales reported. The TOP of the TOP end is not happening like it was.

In Stonnington this weekend we monitored 14 properties, of which 8 were reported as bought before, at or after auction. Bidderman was a surprising 2.3 – surprisingly good given the stock quality This gives a clearance rate of 57%. For the corresponding week in May of this year we monitored 18 properties at auction at which 12 [...]
Supply is everywhere and prices are falling. How long will it last? Maybe not as long as you think! The market still has an underlying strength.

Supply is everywhere and prices are falling. How long will it last? Maybe not as long as you think! The market still has an underlying strength.

At 6pm Saturday the James Clearance Rate on the 42 Million-Dollar-Plus Auctions we covered was 50%. Our Demand Indicator, Bidderman, is down to 1.1  –  which is pretty amazing considering that a few months ago it was riding high at around 3.0. Our Highlights Of the 42 auctions we attended this weekend, 26 had no bidders at all. [...]
Somebody gave Port Phillip an Auction Pep Pill and we think we know why!

Somebody gave Port Phillip an Auction Pep Pill and we think we know why!

Of the 10 auctions we attended, three were bought before auction, three were bought under the hammer and four were passed in (with one bought after).  Our demand indicator Bidderman was at 1.5 bidders per auction. So out of 10, seven were bought. That seems a big improvement on the last few weeks. We have [...]
More and more choice for buyers and at good prices if you know how to buy well!

More and more choice for buyers and at good prices if you know how to buy well!

At 6pm Saturday the James Million-Dollar-Plus Clearance Rate on the 35 auctions we attended was 51%. Our Demand Indicator, Bidderman, was up at 1.7 – still hanging in there. PRICE CORRECTION There is no doubt the market has eased, “corrected” – call it what you like. One easy word to understand  is “dropped”. On a few properties it [...]
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 [...]
Nathan Waterson, Bennison Mackinnon

Nathan Waterson, Bennison Mackinnon

Nathan Waterson – Focusing on Stonnington Kristen: Hi Nathan. Nathan: Hi Kristen. How are you? Kristen: Good thank you. I’m here today with Nathan Waterson one of the partners at Bennison Mackinnon, he’s been there for five years now. We are just going to have a bit of a chat about the market and what’s [...]
Ladies and Gentlemen. Roll Up, Roll Up. Welcome to the new Port Phillip one man shows. Turn Up – Speech – Vendor Bid – Exit

Ladies and Gentlemen. Roll Up, Roll Up. Welcome to the new Port Phillip one man shows. Turn Up – Speech – Vendor Bid – Exit

Not a lot on offer today and despite our headline a few were put away albeit on lower interest levels than last month. Of the reported sales we saw 7 from 13 go under the hammer or sell soon after for a 54% clearance rate. The standout auction was 65 Beacon Vista Port Melbourne with [...]
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 [...]
Smooth sailing in inner Melbourne

Smooth sailing in inner Melbourne

The market is holding up in the inner suburbs of Melbourne – no run-away results, just a stable market with depth. Hocking Stuart, (Richmond) &  Biggin and Scott (Richmond) reported a 100% clearance rate today with 11 out of 11 sold. Both agencies reported multiple bidders and a stabilising market. Andrew Gibbons of Hocking Stuart noted the [...]
Clearance Rate Sliding. Bidders Dropping. $2M+ Prices are currently leveling – of that there is no doubt. Bayside cooling; South Yarra and Toorak downright frosty; but Boroondara still hanging in there.

Clearance Rate Sliding. Bidders Dropping. $2M+ Prices are currently leveling – of that there is no doubt. Bayside cooling; South Yarra and Toorak downright frosty; but Boroondara still hanging in there.

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 36 Auctions we attended today was a limp  58%. Bidderman continues to slide in all price ranges except Inner Melbourne lower $M+. The Mood is Subdued for the most part across the $2m+ board. When we say Subdued and cooling we mean prices are leveling even [...]
Inner Melbourne strong and seemingly getting stronger!

Inner Melbourne strong and seemingly getting stronger!

Its been a few weeks since our last update and despite the recent interest rate rises the market broadly is still where we left off – moving upwards. Starting at the Top End of Town in East Melbourne a crowd of 60 strong witness 50 Berry Street pass in on an opening vendor bid of $1.9 [...]

Inside James Market News