oc | Sunday 15th December

Market News » Canterbury


Under the sheer weight of numbers Melbourne’s jewel has finally succumbed (for the moment?). But Land is still Gold!

Under the sheer weight of numbers Melbourne’s jewel has finally succumbed (for the moment?). But Land is still Gold!
Today was a watershed day for the Boroondara market – a day when the market could no longer gorge the incredible amount it has been gorging (for the last six months). Today was a real (excuse me, while I burp) I just can’t fit in anymore kind of day. Today the Boroondara market which has been [...]
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 [...]
The numbers show things are happening and something may be coming; but that something may be nothing more than a breather. Buying Opportunities in the $2m to $4m range.

The numbers show things are happening and something may be coming; but that something may be nothing more than a breather. Buying Opportunities in the $2m to $4m range.

It’s 6pm Saturday and the James million-dollar-plus Clearance Rate on the 41 auctions we attended today was 61%. Bidderman is 1.7 and it seems to have found a momentary level of some strength on large numbers of auctions. We monitored 174 $million sales across 56 Melbourne suburbs. Overall Clearance rate is 60% for those 174 auctions and in [...]
The Auction Method is under real pressure. Vendors will be asking for new ideas soon as another week of low clearances hits Port Phillip

The Auction Method is under real pressure. Vendors will be asking for new ideas soon as another week of low clearances hits Port Phillip

With Bidderman less than 1 – meaning more auctions than bidders  – it may be time for a change of scenery for Port Phillip auctioneers unless things turn very quickly or they can come up with some new ideas. And the post auction sales are not happening either according to reported REIV results, so a [...]
Strong Clearance Rates considering the big numbers of auctions. Yes it has eased, but Bidderman still looks to have some legs.

Strong Clearance Rates considering the big numbers of auctions. Yes it has eased, but Bidderman still looks to have some legs.

In contrast to last week, we saw all 9 properties we covered over $1,000,000 today, sell.   Three sold before auction, 3 sold under the hammer and 3 were bought after.  That’s a 100% clearance rate and Bidderman was back up to two. Five of the nine properties had two or more bidders.  Richard Jellis of Jellis Craig [...]
Market change – we know it has, so why is the next question. Is it supply up (shorter term) or demand down (longer term)?

Market change – we know it has, so why is the next question. Is it supply up (shorter term) or demand down (longer term)?

Its 6.00 pm Saturday and the James $Million+ Clearance Rate on the 36 auctions we attended was 64%. Interestingly, 20 of the auctions initially passed in. Therefore we witnessed an under the hammer clearance rate of 41% – obviously a number were bought almost immediately afterwards. Bidderman is up from 1.5 last week to 1.8 bidders per auction this [...]
$2m+ is leveling quickly as buyers become more discerning on price; but $1m+ remains full steam ahead on almost anything!

$2m+ is leveling quickly as buyers become more discerning on price; but $1m+ remains full steam ahead on almost anything!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 36 Auctions we attended today was a solid  75 per cent on good stock numbers. The “frenzy” feel has left the highest of the higher end market for now as the new age businessman and establishment money, who determine the Toorak market, reconsider after (1)    looking at [...]
Boroondara – marching time on an expectedly quiet weekend

Boroondara – marching time on an expectedly quiet weekend

As expected with only a  handful of $1,000,000  plus  auctions this weekend due to the Anzac Day holiday the market was fairly quiet. Of the six auctions we attended today Bidderman was just under 2 with 1 bought before, 1 passing in and 4 bought on the day. 32 Through Rd Camberwell (Walter Dodich, Marshall White)  – 1 bidder – $1,320,000 sold after 18 [...]
Boroondara marches on!

Boroondara marches on!

After a week or two off for serious buyers and sellers, the market in Boroondara keeps on keeping on, with clearance rates for most agencies around the 85 per cent-plus mark. The weather in Melbourne was perfect today – perhaps the last breath of summer – and there were good people numbers at  auctions and at [...]
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 [...]
Boroondara had a strong week. No market turn obvious today.

Boroondara had a strong week. No market turn obvious today.

Strong day in Boroondara today for good properties, with many homes selling under the hammer and selling strongly. However not all auction results have been reported.   Scheduled Reported Ashburton 1 1 Balwyn 8 6 Balwyn North 7 6 Camberwell 7 7 Canterbury 1 1 Glen Iris 4 4 Hawthorn 4 4 Hawthorn East 9 4 Kew 14 7 Kew East 3 3   58 43 Some of the auctions that we attended – 8 Moorhouse Street Camberwell (Heather Elder, Marshall White). Sold for $1,997,000 – 4 bidders 14 Lyndhurst Crescent Hawthorn (Peter Batrouney, [...]
The million dollar-plus view

The million dollar-plus view

This article was written in The Age, Business Day section. http://www.theage.com.au/business/property/the-million-dollarplus-view-20100314-q62r.html AS BUYER advocates, my colleagues and I attend 30 to 50 auctions a week and 100 or so open for inspections of properties in inner Melbourne’s million-dollar-plus residential market. We are regularly asked what’s happening in the million-dollar-plus market, what’s driving this market, [...]
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 [...]
Boroondara for sellers; perfect one weekend, tough the next! Nobody could say there is an immediate stock shortage with 150 (million dollar) auctions in the next fortnight.

Boroondara for sellers; perfect one weekend, tough the next! Nobody could say there is an immediate stock shortage with 150 (million dollar) auctions in the next fortnight.

Interesting day in Boroondara today, with a few properties flying out the door with 5 or more bidders and also a number passing in quietly without much crowd interest. Scott Patterson from Jellis Craig thought the market was patchy – yet probably understandable. Scott thought the company’s clearance rate probably dropped back to around 70% today. This was [...]
2010 is going to be your year of the good decision

2010 is going to be your year of the good decision

It’s 6pm and the James million-dollar-plus clearance rate is 83% on the 30 auctions we attended. Bidderman was 3.0 per auction with only 4 from 30 auctions attracting no Bidderman and 7 from 30 auctions attracting Bidderman 6 or more. The highlight of today’s auctions was a $7 million sale at 14 Scotsburn Grove Toorak selling [...]

Inside James Market News