oc | Sunday 15th December

Market News » Elwood


The story was not today – it was as expected. The $M+ story was in the last few weeks since the pre Easter Super Saturday. At least 170 homes have been bought over $1m in Melbourne. Some examples: Balwyn (5); Brighton (7); Caulfield (11); Docklands (3); Eaglemont, Elsternwick and Elwood (4 each); Hawthorn East (5); Malvern (5); McKinnon (3); Melbourne (5) and how about Mounts Eliza and Martha (6 between them); Surrey Hills (4) and Williamstown (4). This is Melbourne’s Market Mood right now.

The story was not today – it was as expected. The $M+ story was in the last few  weeks since the pre Easter Super Saturday. At least 170 homes have been bought over $1m in Melbourne. Some examples: Balwyn (5); Brighton (7); Caulfield (11); Docklands (3); Eaglemont, Elsternwick and Elwood (4 each); Hawthorn East (5); Malvern (5); McKinnon (3); Melbourne (5) and how about Mounts Eliza and Martha (6 between them); Surrey Hills (4) and Williamstown (4). This is Melbourne’s Market Mood right now.
Is Help On the Way? We hope so, but don’t think it’s coming in a hurry!

Is Help On the Way? We hope so, but don’t think it’s coming in a hurry!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 38 Auctions we attended today was 74%; basically no change on the 77% ( pre Easter Super Saturday -March 27). Bidderman was down from to 3 to 2.3 bidders per auction but that is still very strong all things considered (stock quality and Easter holidays). Market Mood Today was [...]
With the Grand Prix on it was noisy and quiet all at the same time!

With the Grand Prix on it was noisy and quiet all at the same time!

Little to report in Port Phillip this week with the Grand Prix and traffic issues dominating the local scene. However a couple of buys of interest. 27 Swallow St Port Melbourne (James Rating 802/1000); top home and probably the best double fronted I have seen in that suburb. Was bought under the hammer for $2,260,000 with [...]
Port Phillip overall was strong with 17 $m+ homes selling at auction today – there were some surprise pass-ins though.

Port Phillip overall was strong with 17 $m+ homes selling at auction today – there were some surprise pass-ins though.

The two big ones in Elwood didn’t go off under the hammer today. Our top rating home for the year with 904 out of 1000; 71 Addison St Elwood (Torsten Kasper of Chisholm and Gamon) did not attract a bid at the price asked and remains unreported at time of writing. 396 Barkly St Elwood [...]
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 [...]
Let’s debate Land v Apartments and the age-old myth that land ALWAYS appreciates faster than units or apartments.

Let’s debate Land v Apartments and the age-old myth that land ALWAYS appreciates faster than units or apartments.

It is of concern to me that this type thinking is so ingrained into people’s minds that you cannot even suggest an alternative view. What I am here to tell you is  that land does NOT go up faster than apartments in all instances. I would like to make my first point very quickly. If you have [...]
The $1m to $2m market was still pretty solid today – despite it being quieter in other areas.

The $1m to $2m market was still pretty solid today – despite it being quieter in other areas.

10 out of 15 million dollar plus homes on offer were bought at auction today. A little off the stellar performance of two weeks ago, but nonetheless still pretty solid. Following on the strong Elwood results was the auction at 127 Mitford Street with Bernadette Cheet of Rand. James Rating 738/1000: “Great block to start again in [...]
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 [...]
While they needed some work, some great homes on offer in Port Phillip today. They all sold.

While they needed some work, some great homes on offer in Port Phillip today. They all sold.

A lot has been happening in Port Phillip (Elwood, St Kilda, Albert Park, Middle Park, Port Melbourne) with 18 buys over a million in the last week. The thing we have been happy with as buyers is the amount of quality stock – we know everybody tells you that’s low and Bidderman is saying there [...]
Today we go on a tour of 50 of Melbourne’s $Million+ Auctions. In 2010, this is what is really happening in Melbourne!

Today we go on a tour of 50 of Melbourne’s $Million+ Auctions. In 2010, this is what is really happening in Melbourne!

It is 6pm and the James Million Dollar+ Clearance rate from the 47 Auctions we attended today was 83 per cent. This week, we are focusing purely on the market, as it is the first major quality offering since late 2009. Next week is Labour Day (no Market News) and then it’s only three weekends of [...]
Bayside – Beaumaris, Brighton to Port Melbourne and a bit more

Bayside – Beaumaris, Brighton to Port Melbourne and a bit more

Just another quiet week (not) in Brighton with 13 reported sales over $1m. Big increase in Bidderman at auction: 2.6 Some follow up to previous weekend’s passed in auctions – two sold privately during the week; the first at 49 William St, Brighton (Phillip Mellody Buxton), where they seemed to be thinking $3.5m, had a vendor bid of $2.95m last [...]
There is opportunity in the next two weeks

There is opportunity in the next two weeks

It's 6.00 pm Saturday and the James $m+ Clearance Rate on the on the 23 $m+ properties we attended today, was a strong 78 per cent. HATS OFF to Torsten Kasper, Managing Director of Chisholm and Gamon who said their quoting policy now, was that their reserve was within their quoted range unless a last minute vendor hiccup. I suppose we could handle one vendor hiccup in 20 or so. Let us know if you as buyers are finding this to be the case. We congratulate Torsten on this transparency and we encourage buyers and sellers to support this Elwood and Port Melbourne company as long as this remains their stated policy and is proven to be the case.
Covering Beaumaris through Brighton to Port Melbourne in $1m+ homes

Covering Beaumaris through Brighton to Port Melbourne in $1m+ homes

A few mixed results in Bayside again today, but mid-week JP Dixon got away a big apartment sale in the Sandown St Golden Mile complex at just under $4 million. That is almost $20 million-worth of apartment and townhouse sales in a week and a bit for Brighton’s big end of town. Some [...]
News on Brighton and surrounds through to Albert Park

News on Brighton and surrounds through to Albert Park

107 Ruskin Street Elwood, Peter Kennett of Hocking Stuart. James Home Rating: 797/1000. Great street and the top part of Elwood. Close to beach, shops and has a lovely tree-lined feel. Want to be clear that car parking is OK out the back, although shows a carport on plan.
Bumber Bayside School Holiday Wrap

Bumber Bayside School Holiday Wrap

Two really strong auctions in Bayside yesterday 43 Victoria Sandringham with Buxton’s Mark Earle and Bill Jowett.  5+ bidders – selling under the hammer for $3,350,000 (2700 sq metres of land, with no restrictions and a bulldozer home – which the new owner will do). This means prime Sandringham land (non beachfront) [...]

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