oc | Tuesday 21st January

Market News » bennison mackinnon


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 [...]
Stock Quality was down. Significant drop in Bidderman and Clearance Rates at Today’s $m+ Auctions. A hiccup or the start of a rebalancing? It’s only one day so stay tuned!

Stock Quality was down. Significant drop in Bidderman and Clearance Rates at Today’s $m+ Auctions. A hiccup or the start of a rebalancing? It’s only one day so stay tuned!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate from the 31 Auctions we attended today was 61 per cent. Wow that was a bit of a surprise! Please note we thought the quality of the homes on offer was not as high as the last two weeks in February or the upcoming March 27th auction [...]
Mixed in Toorak and South Yarra

Mixed in Toorak and South Yarra

Not a whole lot on offer today and certainly minimal quality for the most part. Something old, something new. What sells? Well this week it was something old. Two good old sales were: 140 Kooyong Road with Iain Carmichael of Bennison Mackinnon (James Rating 691/1000) which sold for a bullish $4.04 million after being on the [...]
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 [...]
Hawthorn, Canterbury, Camberwell, Glen Iris, Kew and Hawthorn East

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

Boroondara performed strongly this week, with around 20 $m+ properties selling at auction. Another two $m+ properties sold before auction. Those were 5 Carronshore Close Balwyn (Marshall White) and 26 Dower St Camberwell (Bennison MacKinnon). I think the big suburb move in recent years has been Glen Iris – east of the freeway and west [...]
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 [...]
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 [...]
A Story of Courage and Leadership.

A Story of Courage and Leadership.

It’s 6pm Saturday and the James Clearance Rate for million-dollar-plus auctions is 83 per cent on the 24 auctions we attended today. The big news is on a very large day for auctions the bidder numbers per auction has actually risen dramatically to 3 per auction despite the interest rate noises. This is substantial [...]
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 [...]
Q&A with Bennison Mackinnon’s Director Iain Carmichael

Q&A with Bennison Mackinnon’s Director Iain Carmichael

Iain Carmichael is a tough cookie and one of the best, if not the best, auctioneer in Melbourne. We exchange thoughts often and I find that enjoyable. The discussions are always quick, robust and, occasionally, I need a disprin afterwards. But I would never say that Iain gives you anything other [...]
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 [...]
Covering Toorak, South Yarra, Armadale, Caulfield, Malvern and Malvern East

Covering Toorak, South Yarra, Armadale, Caulfield, Malvern and Malvern East

Of the 19 $1 million-plus auctions we looked at today in Stonnington (inc Glen Iris) 17 sold, or 90 per cent. Couple of highlights: 37 Armadale St Armadale with Bennison Mackinnon, which had been hanging around for a few weeks post-auction, sold for, we believe, a tick under $2.3 million. 9 Valley View Road with Maddie Kennedy [...]
Adam Woledge  Wow – We were only $1.2 million out on a property – 10 Irving Road.

Adam Woledge Wow – We were only $1.2 million out on a property – 10 Irving Road.

Spoke to Bennison Mackinnon’s Iain Carmichael this afternoon – tell Mal you won’t find me saying I can see a lull that you may have implied a few weeks ago. Very strong is my read of our and other company’s selling results and don’t worry I was about a million out on [...]
Covering Toorak, South Yarra, Armadale, Caulfield, Malvern and Malvern East

Covering Toorak, South Yarra, Armadale, Caulfield, Malvern and Malvern East

As much action as we have seen in Stonnington for many a day with 14 sales over a million dollars and four pass-ins. Three substantial sales were 25 Glassford St Armadale with Susan McGlashan and Iain Carmichael of Bennison Mackinnon – see our auction report. If you said the home was $1.2 million, [...]
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 [...]

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