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Market News » East Melbourne


THE BLOCK @ 22 POWLETT EAST MELBOURNE

THE BLOCK @ 22 POWLETT EAST MELBOURNE
Yes, it was a Super Saturday but we think the best way to describe it was….. Suspicious Saturday. Why? Individual result volatility remains very high. It’s the biggest strategy issue right now for both buyer and seller. What do you mean Mal? The market simply can’t consume the full amount of stock available right now, especially when buyers can also [...]
So it was quoted $1.5m and it sold for $2.65m. So it was quoted $5m and it sold for $7.6m.

So it was quoted $1.5m and it sold for $2.65m. So it was quoted $5m and it sold for $7.6m.

Wow – where is the land? No land – these were older apartments! The Melbourne market is changing on certain older-style apartments in certain blocks. In the late 2000 teen years (2015-2019) it is becoming feasible to get good capital growth and a good home on 20 year old plus apartments without actually owning any land. However, [...]
A tale of two

A tale of two

This weekend on one of the quieter October Auction Days, we were involved in two auctions – one we bought and one we missed. We bought 307 Beaconsfield Parade, Middle Park (Simon Gowling), under the hammer with 2 bidders @ $6,370,000. We missed 40 Berry Street, East Melbourne (Paul Caine), under the hammer with 2 bidders @ $4,550,000. It was a [...]
October Top End Market

October Top End Market

Week Ending Saturday, October 25 James Buyer Advocates are busy: Number of auction homes involved in buying this week was well into double figures. Our mid week activity securing homes BEFORE AUCTION for clients was intense. At the time of writing we had bought before in Toorak (Michael Armstrong), Mont Albert North (Mark Read) and Glen Iris (Paul [...]
Auctions quieten down over winter – it will now be about off-markets and private sales

Auctions quieten down over winter – it will now be about off-markets and private sales

Week Ending Saturday, June 21 As we head into the winter break, it’s worth reflecting on how the market has performed so far this year. What we saw this weekend was a continuation of an extraordinarily up and down year.  We’ve had a slew of Super Saturdays, weekends when it looked like the market had gone [...]
2014 First Super Saturday – The Early Birds are out in force!

2014 First Super Saturday – The Early Birds are out in force!

At 6.00 pm Saturday and the James Clearance Rate for Melbourne’s $M+ property was 71% on the 42 auctions we covered. The Weekly Review Bidderman, our bidders per auction measurement, was at 2.6. All three of those numbers are exceptionally strong – there is no other way to read them! This weekend was the first big [...]
Northern Weekly

Northern Weekly

It’s been an interesting year in the Inner North, especially in the second half of the year following in the traditional mid-year hiatus. This year had the Federal Election added in to the mix, and this played on the minds of potential sellers as they held out for a political outcome before listing. All the [...]
Spring has Sprung & Top End Market is Lifting

Spring has Sprung & Top End Market is Lifting

  The first week of September was all about the Federal Election. Auction activity returned to full swing on September 14. There were four auctions in Melbourne over $3m. See details below. Week Ending September 14, 2013 Biggest Auctions: Toorak, 10 Yarradale Road, Tim Derham (Abercromby’s), under hammer, $4,840,000, 4 bidders 80 or so are comfortably gathered in the backyard [...]
Northern Weekly

Northern Weekly

East Melbourne Terraces A couple of weeks ago we witnessed 160 Powlett Street, East Melbourne going under the hammer for around $1,500,000. There were nine bidders in total and it leaves you wondering where the other eight bidders are looking now. Apartments can be found for this sort of price in East Melbourne, but houses pop up [...]
This price segment is starting to rise

This price segment is starting to rise

Week Ending 18th May Off-Market Special This week, with the quality $M+ market continuing to move ahead strongly, we are looking at an increasingly large part of the market – the Off-market sector. Off-market transactions are transactions that take place without any advertising, without big glossies in The Age or without any internet presence. Consequently you won’t see [...]
It’s official: the Top End is moving, with 40+ buys this month

It’s official: the Top End is moving, with 40+ buys this month

Week Ending 23rd March – We are now seeing The A graders are having multiple bidders – look at the number of volcanoes The B graders are getting mopped up – check old stock records The C graders are being considered by those [...]
Depth of demand holds up on another weekend of big numbers.

Depth of demand holds up on another weekend of big numbers.

At 6.00 pm the James Clearance Rate for Melbournes $M+ was 65% and The Weekly Review Bidderman, our bidders per auction measurement, was a solid 2.2. Last weekend we reported a strong start for our first Super Saturday, with Bidderman a very healthy 2.2 bidders per auction on big numbers of stock on offer with almost everywhere [...]
As we leave 2012 the Top End is officially off life support!

As we leave 2012 the Top End is officially off life support!

2012 Summary The talk was all doom and gloom at the start of 2012 after a bad finish to 2011 by the market. This talk flat lined the Autumn market with basically no action whatsoever, save a surprising burst around Easter with 5 at $10,000,000 changing hands. We went into Winter in a downward spiral with [...]
Lack of exciting stock on the market brings on a quieter weekend

Lack of exciting stock on the market brings on a quieter weekend

At 6pm on Saturday, the James Clearance Rate for $M+ was 61% on the 31 auctions we attended. The Weekly Review Bidderman, our demand indicator, was 1.3 bidders per auction. That low Bidderman rate reflects how the market felt this weekend – quiet. This lack of activity is hardly unexpected given that the Melbourne market is [...]
$3m+ off life support. $5m+ looking still looking unwell.

$3m+ off life support. $5m+ looking still looking unwell.

Week Ending September 15th: This Weekend with only 3 from 7 over $3m reported as selling before 6.00pm, we feel this shows the market is continuing to struggle on more offerings than not at the Top End. 9 Scotsburn Toorak (Justin Long) with 5 bidders fighting it out to $4,220,000 is a good case study. The result [...]

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