oc | Thursday 12th December

Market News » Canterbury


Bring it on next week!

Bring it on next week!
Key points: We attended nine auctions in Boroondara. Four were bought under the hammer, three were bought after and two remain unsold 13 Kirkwood Drive, Camberwell (Steven Abbott, Jellis Craig) had six bidders, while 5 Vaughan Ave, Canterbury (Tim Heavyside, Fletchers, bought for $1,901,500) had five. Biggest sale of the day was 27 Grange Rd, Kew (Richard Earle, [...]
Clearance Rate dips to 54%

Clearance Rate dips to 54%

Key Points Clearance rate lower than expected 4 out of 5 properties over $2,000,000 passed in A number of no bid auctions which we haven’t seen for some time in Boroondara 6 out of 7 properties in Balwyn North between $1,000,000 and $1,500,000 were bought Price Watch 10 Leslie St Hawthorn with Chloe Quinn of Jellis Craig was bought for at [...]
Get Organised for the next Super Saturday – October 23rd

Get Organised for the next Super Saturday – October 23rd

The big news this week for homebuyers was not Gary Ablett or the GF Replay; it was the major stock inflows that took place on Monday, Tuesday and Wednesday when agents began their marketing campaigns for the next Super Saturday - October 23rd. Check out the size of the Weekly Review this week. While one weekend does not make a summer, we now seem to have finally started the Spring surge. Prior to the Grand Final(s) stock was particularly low and prices were definitely beginning to firm on the back of this.
September sees the re-emergence of Melbourne’s $3m+ Market

September sees the re-emergence of Melbourne’s $3m+ Market

September Executive Summary: Demand: Solid and increasing Reported Boughts: 46 Bidderman: Substantial improvement in bidders per auction at the higher level. Random cross section of bidders. 1/3/2/1/3/1/3/2/2/3/3/3/2/1/0/0 for a month average of 1.875 Supply: New Stock Low Overhang from May however new stock is still light on at end of September and that which comes on at a reasaonble price [...]
The $3m+ market is continuing to return to some life

The $3m+ market is continuing to return to some life

Another strong (well stronger than Winter) fortnight for auctions and private sales over $3m. Rather than wax lyrical lets look at some facts. See below for results, reports, ratings and analysis. Full Auction Report: Click here https://www.marketnews.com.au/auction-reviews/8807/42-Wattle_Valley-Road-CANTERBURY Full Auction Report click here: https://www.marketnews.com.au/auction-reviews/8705/24-Somers-Avenue-MALVERN Full Auction Report: Click here https://www.marketnews.com.au/auction-reviews/8829/4-Forrest-Court-TOORAK Full Auction Report click here: http://www.james.net.au/rating/49-Harcourt-Street-HAWTHORN_EAST Full Auction Report click here: https://www.marketnews.com.au/auction-reviews/8670/1-Myamyn-Street-ARMADALE/ Full Rating click here: http://www.james.net.au/rating/6-Head-Street-BRIGHTON Full Video [...]
Some sustained stock levels and clearance rate easing. But Bidderman is still strong.

Some sustained stock levels and clearance rate easing. But Bidderman is still strong.

Key Points: We covered 11 auctions across Boroondara on Saturday. Of those, 4 sold under the hammer, and 4 were bought after. Bidders on all bar one auction. Big crowd increases. The biggest auction of the day was 42 Wattle Valley Rd, Canterbury (Richard Winneke of Jellis Craig), which had an after-auction sale price in excess of $3,400,000 and [...]
Dear Buyer God – we may need your help in Boroondara again please.

Dear Buyer God – we may need your help in Boroondara again please.

Key Points: Of the 10 auctions we attended in Boroondara on Saturday, all but one either sold under the hammer or was bought after auction. Canterbury 7 from 8 over a million were bought at auction today. Highlight auction was 49 Harcourt Ave, Hawthorn East, James Tostevin, bought in excess of $7 million. Weakest areas were Balwyn and [...]
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 [...]
Market for Top End Stock will be tested over the next month or so.

Market for Top End Stock will be tested over the next month or so.

Key Points Boroondara still the “healthiest” million dollar market to sell in – although impressive challenge from Stonnington today. A few upper end quality homes are drifting onto the market – but supply is tight. Current sales volume is way less than the peak one to two months ago Agent Comments – This week we asked if the election [...]
Tumbleweeds were rolling down the Auction Streets today

Tumbleweeds were rolling down the Auction Streets today

Not much happening today, with one of the quietest non-holiday Boroondara auction weeks I can remember. There were 11 auctions and seven sold. In May we were running at four times this almost every week. Very few private sales either. Bidderman was irrelevant on such small numbers. The highlights were: 3 Longstaff Kew East – Glen Coutinho [...]
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 [...]
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 [...]
As expected – those that price correctly sell – those that don’t, won’t! However, if you are a buyer this price window doesn’t feel like it has any great permanence.

As expected – those that price correctly sell – those that don’t, won’t! However, if you are a buyer this price window doesn’t feel like it has any great permanence.

As we approach the shortest day of the year, we saw a record number of auctions in Boroondara on Saturday (compared to equivalent weekends in past years). Given the large supply, the market seems to have  some resilience. In fact, there is so much going on that  many key agents are delaying their traditional mid-year holiday by [...]
Overhang is the issue, but new stock numbers are dwindling so a rebalance is possible.

Overhang is the issue, but new stock numbers are dwindling so a rebalance is possible.

SUPPLY OVERHANG BUILDS First some stats. Last Saturday’s (May 29) Auction results showed strong evidence of “auction overhang” in Port Phillip where the clearance rate was 32% clearance rate on the 22 auctions we monitored. Seven days later the reported clearance rate had lifted from 32% to 45%, with only three of the pass-ins and unreporteds reported as having [...]

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