oc | Sunday 8th December

Market News » Canterbury


Buyers sit on the fence, hands in pockets.

Buyers sit on the fence, hands in pockets.
At 6pm on Saturday the James Clearance rate for $M+ was 57% on the 30 auctions we attended. That was well down on last week’s cameo of excitement, but understandable giving the quality change between this week and last week at the Top End. Bidderman, our demand indicator, was 1.5 bidders per auction. However the quality [...]
The $3m+ market continued to awaken from its previous non-existence – but away from auctions.

The $3m+ market continued to awaken from its previous non-existence – but away from auctions.

To be frank I wasn’t that excited about running around to auctions today (which is very unusual for me). We videoed the 23 Falmouth St, Hawthorn auction with one of my favourite agents Hamish Tostevin and 4 bidders. But after that I cleaned up my paperwork and looked forward to a week [...]
Market Mojo returns – but is it a One Day Wonder?

Market Mojo returns – but is it a One Day Wonder?

At 6pm on Saturday the James Clearance rate for $M+ was 71% on the 34 auctions we attended. WOW – 71%, a big change from last month. Bidderman, our demand indicator of bidders per auction, was at 1.8. So on our biggest $M+ auction weekend so far this year, when you would expect buyers [...]
10 from 10 on the auctions we covered

10 from 10 on the auctions we covered

We mainly focus on the better quality homes, however 10 from 10 was still a surprise. This stat varies dramatically from our overall monitored auctions stat of just over 50% – similar to last week. It was a Super Saturday in Boroondara with over 50 auctions at $M+ and over 30 sales reported as being [...]
Melbourne’s strongest in 2008/2009/2010 seems to be dropping down the ladder in 2011.

Melbourne’s strongest in 2008/2009/2010 seems to be dropping down the ladder in 2011.

Key Points: Is the dream run over for agents in Boroondara or is Post Easter going to be a very different story? Just like the market itself, there has been tremendous change within the business of real estate in Boroondara in recent times. Both the May and Winter markets could be very different to past [...]
It was struggle street out there today (for many sellers).

It was struggle street out there today (for many sellers).

At 6pm on Saturday the James Clearance Rate for the 35 $M+ auctions we covered was an almost icy 46%. Bidderman today remained at a market cooling 1.4 bidders per auction - so we seem to be now firmly in the grip of the Winter chill.
Great buying opportunities in the $3m+ Pre Easter Market, even more so than the 3 week season opener just gone.

Great buying opportunities in the $3m+ Pre Easter Market, even more so than the 3 week season opener just gone.

Week Ending 19th March: Off Markets, Forthcoming Auctions and Expressions of Interest are increasing as market stock levels begin to rise dramatically
Properties Struggling to Move after Passing In

Properties Struggling to Move after Passing In

At 6pm on Saturday, the James Clearance Rate on the 31 auctions we covered was 58%. Bidderman, our demand indicator of average bidders per auction, had a small rise to 1.6 bidders per auction, in part due to four volcanoes (strong auctions) including one 7 bidder auction in 28 Barrington St Kew. These figures indicate that the [...]
$3M+ market February market was a bit flat  – except for Brighton

$3M+ market February market was a bit flat – except for Brighton

Week Ending February 26th: If last week was the season opener for the $1m+ auction market, then this week was the beginning of the $3m+ auction market
Big crowds but there is an underlying agent nervousness in Boroondara

Big crowds but there is an underlying agent nervousness in Boroondara

Key Points Big Numbers at almost all auctions – a crowd of 300 reported at 15 Stephens St Balwyn North Agents are concerned about the market – definitely not upbeat as a whole Lots of new stock on the market this week – Pre Easter has the potential to be a whole new market to this early season [...]
$3M+ market stumbles at 2011's first hurdle – except for Brighton

$3M+ market stumbles at 2011's first hurdle – except for Brighton

Week Ending February 26th: If last week was the season opener for the $1m+ auction market, then this week was the beginning of the $3m+ auction market and the main focus for this weekend’s report. We don’t have all this weekend’s numbers in yet, so it’s hard to call, but it [...]
Season Opener: February 19th

Season Opener: February 19th

Welcome to Million Dollar Melbourne in 2011 With the Auction Season Opener hitting us between the eyes on February 19, we know that the big question for buyers, sellers and agents is: What is going to happen in 2011? The feeling in late 2010 was that the market was cooling and we shared that view on price [...]
Up, down and now back up this week. Next week?

Up, down and now back up this week. Next week?

Week Ending November 27th: The high end ($3m+) which like the proverbial brides nightie (not sure if I can say that) is up and down at the drop of a hat. A fortnight ago it was up and last week it was down – this week it was up and in a [...]
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 [...]
Bounce-back – well a bit anyway. Overall quality below average

Bounce-back – well a bit anyway. Overall quality below average

Key Points: Clearance Rate this week on the almost 50 auctions over $1 million we monitored was 58%. Not the usual we would expect in this area, but a lot better than last week. Stock quality on offer was below average, so this weekend represented a bit of a bounceback. Only three properties priced at more than [...]

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