oc | Friday 6th December

Market News » buyers and sellers


Stonnington Weekly

Stonnington Weekly
$2 million Stonnington townhouses With last week’s Huntingtower Road Armadale being famous for its Up bid, it was easy to gloss over the fact that 5 bidders wanted a single level downsizer’s home – even though the eventual buyer was a younger couple. Today at 2/2 Somers Avenue Malvern (Kevin O’Brien of Jellis [...]
Manners are slipping, the pressure is being ramped up and the law is inadequate in covering the buyers and sellers who are playing fair at auction.

Manners are slipping, the pressure is being ramped up and the law is inadequate in covering the buyers and sellers who are playing fair at auction.

Stonnington Weekly

Stonnington Weekly

Mid Year Report: You know what? Three cheers for Stonnington: because if it weren’t for Toorak through to Armadale there wouldn’t have been much to cheer about now at the top in 2012. The $M+ market in Boroondara and Bayside and Port Phillip has been noticeably on the nose in 2012 when it comes to positive trends [...]
It wasn’t just the weather that was cold this weekend.

It wasn’t just the weather that was cold this weekend.

At 6pm on Saturday, the James Clearance Rate for $M+ was 57% on the 28 auctions we attended. The Weekly Review Bidderman, our demand indicator, was a very weak 1.1 bidders per auction. Market Summary: It wasn’t just the weather that was cold this weekend – so was the general mood at auctions across the board. [...]
We are in a tightening, low stock $M+ home market; yet bidder numbers are dropping and prices are falling (with the exception of the exceptional). The market has been affected by events of the last few weeks. Whether this is a longer term trend and/or a logical market response we are not commenting on – all we are saying is the market is noticeably different from a month ago and transacting, for some buyers and sellers has become an even greater struggle.

We are in a tightening, low stock $M+ home market; yet bidder numbers are dropping and prices are falling (with the exception of the exceptional). The market has been affected by events of the last few weeks. Whether this is a longer term trend and/or a logical market response we are not commenting on – all we are saying is the market is noticeably different from a month ago and transacting, for some buyers and sellers has become an even greater struggle.

So far it’s been a year of low quality stock undermining buyer demand

So far it’s been a year of low quality stock undermining buyer demand

At 6pm on Saturday, the James Clearance Rate for $M+ was 48% on the 25 auctions we attended. The Weekly Review Bidderman, our demand indicator, was 1.3 bidders per auction. This is our last Marketnews summary and auction reporting until Saturday July 30th. We normally take a fortnight break at this time of the year due [...]
The May market of 2011 is performing exactly as it did in May 2010 – with waning positive sentiment and a fall in new stock levels creating price uncertainties for buyers and sellers. What have we leant from the past? Read our Bumper Market Insight on Smart Buying.

The May market of 2011 is performing exactly as it did in May 2010 – with waning positive sentiment and a fall in new stock levels creating price uncertainties for buyers and sellers. What have we leant from the past? Read our Bumper Market Insight on Smart Buying.

Nervous Bidders are losing the plot – and costing themselves a lot of money.

Nervous Bidders are losing the plot – and costing themselves a lot of money.

At 6pm on Saturday, the James Clearance Rate for $M+ properties in Melbourne was 55% on the 29 auctions we attended. We covered around half the $M+ auctions this weekend. May is looking very lean for auctions and today was almost a non event auction wise The Weekly Review Bidderman, our demand indicator, was 1.2 bidders [...]
We are still seeing at least one Million-plus home bought every ninety minutes in Melbourne

We are still seeing at least one Million-plus home bought every ninety minutes in Melbourne

Volume: Has a lot changed in Million Dollar Melbourne between April 2010 and April 2011? Well, yes and no. April 2010 had around the same number of REIV reported $1m+ sales (maybe a 10% variance with the chance of late reported April 2011 sales to bring the April 2010 and April 2011 numbers closer together) [...]
Despite Grand Prix and Easter there has been a bit of action in Port Phillip this month

Despite Grand Prix and Easter there has been a bit of action in Port Phillip this month

St Kilda, 367 Beaconsfield, a ripper property, finally sold with Andrew Macmillan for about half the initial very ambitious asking price after a long time on the market, with a number of different campaigns and agents. Albert Park, 62 Barrett St (Peter Simmons) a  three bedroom Victorian single fronted with parking, showed that if the quality is [...]
Understanding Market Value is Important

Understanding Market Value is Important

Last week we pointed out that valuing a home is a bit like different vegetable soup recipes. Everybody has a different way of doing it. However, in the end the most important opinion of value is yours. But that doesn’t mean you should ignore what the rest of the market (the majority of other informed buyers [...]
There are buyers around but no exciting stock. However, the market may be stronger than it appears.

There are buyers around but no exciting stock. However, the market may be stronger than it appears.

Key Points: We covered 7 auctions across Stonnington today. Four had 3 bidders or more and 3 had none. This is a true reflection of Stonnington now: good stuff gets support but there is precious little of it on offer. Analysis: Our view is that demand is there – and this is supported by our buyer [...]
Everything Sold – 12 from 12. Impressive Prahran sold 6 from 6.

Everything Sold – 12 from 12. Impressive Prahran sold 6 from 6.

Highlights: Everything sold that we were monitoring – 12 from 12. Hard to argue. Two five bidder auctions – both Tom McCarthy and Philip Moore of Biggin and Scott –  14 Green Prahran – $1,653,000 and 13 Hornby Street – $1,476,000. Prahran was hot because it also had the second highest sale at 41 Closeburn Prahran with Andrew Macmillan of Benmac – [...]
Election. What Election? No effect whatsoever!

Election. What Election? No effect whatsoever!

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 49% for the 37 auctions we attended. By 8pm it was 62% (seemingly a balanced result between buyer and seller). Bidderman, our Demand Indicator, was at 1.6 – a level we feel continues to be a good representation of current demand: borderline – a  market that may be [...]
The Private Sale Clearance Rate in $M+ Melbourne was around 1 in 4 over last 6 weeks. However at auctions this weekend it was ‘even-stevens’ between Buyers and Sellers. Bidderman 2.2

The Private Sale Clearance Rate in $M+ Melbourne was around 1 in 4 over last 6 weeks. However at auctions this weekend it was ‘even-stevens’ between Buyers and Sellers. Bidderman 2.2

At 6pm Saturday the James Clearance Rate on the 22 $M+ Auctions we covered was 59%. Our Demand Indicator Bidderman was 2.2.  Hmmm – an interesting increase but it was off a very low turnover. Today’s Highlights 1)      Bidders were present at 18 of the 22 auctions we covered –  and at three auctions there were 6+bidders 23 [...]

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