oc | Sunday 15th December

Market News » choice


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 [...]
This year has been a buyers’ market and the REIV data confirmed that. The big question now is: will the luxury of quality choice and lower prices continue for buyers after Easter?

This year has been a buyers’ market and the REIV data confirmed that. The big question now is: will the luxury of quality choice and lower prices continue for buyers after Easter?

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 [...]
Amongst the gloom – Brighton early $m+ shone this week with an even dozen $M+ sales.

Amongst the gloom – Brighton early $m+ shone this week with an even dozen $M+ sales.

Key Points: Brighton is like Stonnington at the moment, if it’s good its selling. The market has eased, but unlike last year a number of vendors have responded. However nobody says things are moving upwards yet. What are stock levels going to be like Post Easter – will the significant overhang be taken up, removing [...]
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.
After Melbourne’s $M+ 2011 three week market opener, our call is still 'healthy and balanced'. But agent nervousness and softer market stats suggests that the next market period leading up to Easter could be tough for ambitious sellers – with many buyers feeling they have choice and time on their side.

After Melbourne’s $M+ 2011 three week market opener, our call is still 'healthy and balanced'. But agent nervousness and softer market stats suggests that the next market period leading up to Easter could be tough for ambitious sellers – with many buyers feeling they have choice and time on their side.

Not a lot to report first day back

Not a lot to report first day back

Key Points: The two big ones over $3m didn’t get a bid – Mary St and Beaconsfield Pde, and the $2m Mary St only had one bidder Off Market – Andrew Stuart gets a big one away in Kerferd Rd for $4,900,000 Agent Q & A: How have you found non-auction sales so far this year? Matt Young, [...]
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.
No exaggeration to say it was an auction train wreck today. The saving grace was low stock quality.

No exaggeration to say it was an auction train wreck today. The saving grace was low stock quality.

Key Points: None of the auctions we covered in Port Phillip were bought under the hammer this weekend. As of 7pm, only one had been bought post auction. Across five auctions, there were only two bidders in total. On a positive note, 3 out of 3 townhouses/apartments sold at auction around a $million Analysis: This was Spring’s first test [...]
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 [...]
Yes the market has changed. No the market is not dead. Yes prices have eased. No it’s not a buyer free-for-all. This current market may simply be a supply issue (lots of) with demand currently more opportunistic than the previously frenzied. As one agent exclaimed – unfortunately, for now, buyers have lots of choice!

Yes the market has changed. No the market is not dead. Yes prices have eased. No it’s not a buyer free-for-all. This current market may simply be a supply issue (lots of) with demand currently more opportunistic than the previously frenzied. As one agent exclaimed – unfortunately, for now, buyers have lots of choice!

We cannot put our finger on it today – was it stock quality, richness of choice or some vendors high in the stirrups – market seemed strong on the big homes and there were some ripper auctions, yet some of our advocates and reporters saw multiple auctions without any bids. Overall strong for sellers, but not as convincing as last week

We cannot put our finger on it today – was it stock quality, richness of choice or some vendors high in the stirrups – market seemed strong on the big homes and there were some ripper auctions, yet some of our advocates and reporters saw multiple auctions without any bids. Overall strong for sellers, but not as convincing as last week

Dealing with Stress and Emotion

Dealing with Stress and Emotion

Some of our tips to reduce stress and emotion when buying property: Counteract inexperience and buy in some expertise. It’s not that you shouldn’t use Dad or Uncle Ben – they just don’t probably understand in the same way what your needs are. Hire a buyer advocate or an experienced valuer. Spend some money to [...]

Inside James Market News