oc | Thursday 20th February

Market News » interest rate


Stonnington had some bounce this weekend

Stonnington had some bounce this weekend
Key Points: Clearance Rate hovering around 60% James Connell MD of Marshall White: Clearance Rate expected around 80% with quality stock well supported and a bit more zing this week than the last fortnight. Price Check: 2 Bromley Toorak (off Albany and a court) $5,600,000 for 941 sqm = $5941 per sqmetre. That is solid [...]
Hottest market is for the $1.2 to $1.6 million double-fronted timber home in need of some work – with a market price tag on it.

Hottest market is for the $1.2 to $1.6 million double-fronted timber home in need of some work – with a market price tag on it.

Key Points: Crowds smaller and less bidders with a clearance rate at 62% – lowish for Boroondara, however there were around 50 auctions over $1 million. Hottest market is for the $1,200,000 to $1,600,000 double fronted timber home in need of some work with a market price tag on it. Scott Patterson MD of Jellis Craig: Clearance Rate [...]
Hampton’s Golden Triangle is Melbourne’s Hottest Estate right now

Hampton’s Golden Triangle is Melbourne’s Hottest Estate right now

Highlights: Hampton’s Golden Triangle continues to perform very strongly with 3 Lorraine Hampton (Nick Johnstone of JP Dixon) over $3,000,000; 23 The Avenue Hampton (David Hart of Buxton) $2,350,000 and fringe there but actually Brighton Beach – 10 Menzies Brighton (Sam Paynter of Hodges) $2,600,000. These, the three buys at this level we reported a few [...]
Still amazed how little is on offer at auction in this area

Still amazed how little is on offer at auction in this area

Price Check: 384-386 Barkly St Elwood (Robert Marden of RT Edgar)  555 square metres of land at $3,400 per sqm. No price drop there since May where we had a flurry of $3,000 to $3,300 per sqm land sales. This was main road land and may have multi-development opportunities. Agent Q & A: Matthew Young, [...]
Three more home shopping weeks till Christmas

Three more home shopping weeks till Christmas

Agent Q & A: In terms of real estate, what has happened this year and what do you expect will happen next year? Tom Kurtschenko, Barry Plant, Eltham: 2010: “Early in 2010 we witnessed unprecedented growth in the local markets with strong buyer demand for all types of property.  Particularly the lower and middle end of [...]
Understanding Market Value is Important

Understanding Market Value is Important

Last week we pointed out that valuing a home is a bit like different vegetable soup recipes. Everybody has a different way of doing it. However, in the end the most important opinion of value is yours. But that doesn’t mean you should ignore what the rest of the market (the majority of other informed buyers [...]
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 [...]
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 [...]
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 [...]
What is happening in Sydney…?

What is happening in Sydney…?

As we have been up in Sydney recently we thought it might be an opportune time to bring you some news North of the border. A couple of key difference’s when buying property up in Sydney:  Not all prestige property is auctioned with auctions representing approximately  50% of transactions. When at Auction you have to register [...]
Inner Melbourne strong and seemingly getting stronger!

Inner Melbourne strong and seemingly getting stronger!

Its been a few weeks since our last update and despite the recent interest rate rises the market broadly is still where we left off – moving upwards. Starting at the Top End of Town in East Melbourne a crowd of 60 strong witness 50 Berry Street pass in on an opening vendor bid of $1.9 [...]
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 [...]
Bidderdepth… A recap on Year To Date in the North.

Bidderdepth… A recap on Year To Date in the North.

Since the start of 2010 we have seen buyers itching to get into the market… the amount of bidders in the North has increased as the weeks have progressed. Where is everyone coming from…? Well it appears a combination of people who missed out in 2009, investors returning to the market and obviously a new bread of buyers that [...]
A Story of Courage and Leadership.

A Story of Courage and Leadership.

It’s 6pm Saturday and the James Clearance Rate for million-dollar-plus auctions is 83 per cent on the 24 auctions we attended today. The big news is on a very large day for auctions the bidder numbers per auction has actually risen dramatically to 3 per auction despite the interest rate noises. This is substantial [...]

Inside James Market News