oc | Monday 24th February

Market News » jellis craig


$M+ Glen Eira is picking up where it left off pre-Winter.

$M+ Glen Eira is picking up where it left off pre-Winter.
Given this is our first report back from winter, we are giving you a flavour of what is happening in what is probably, outside of Boroondara, Melbourne’s most dynamic $M+ market. We covered the 5 major Glen Eira auctions yesterday and with an average Bidderman of 2, things have started strongly for Spring. Results: BENTLEIGH 17 Twisden Road $1,460,000 Bought CAULFIELD 87 [...]
Still by far the hottest market in town – big numbers and solid clearance rate.

Still by far the hottest market in town – big numbers and solid clearance rate.

Key Points: We covered nine auctions, three bought under the hammer, 2 post auction and 4 passed in Jellis Craig had an 80% Clearance Rate today Big numbers of $M+ auctions today – 42 monitored Bidderman is over 2 on a day when we monitored over 40 $M+ auctions in Boroondara. That’s “strongish.” Surprisingly Camberwell only 4 from 10 [...]
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 [...]
Right now Melbourne’s strongest $M+ market by some stretch

Right now Melbourne’s strongest $M+ market by some stretch

Key Points Boroondara is still the toughest game in town for $M+ buyers – although good new stock arriving everyday. Will Hawthorn, Kew, Camberwell and surrounds be able to maintain their market strength with more stock coming in – or will we see a repeat of May? Post Auction Clearance rate was over 80% with reasonable bidder numbers on good [...]
Solid

Solid

Key Points Strong Monitored Clearance Rate (79%) on reasonable numbers today –  auctions running at about a third to half of May peak on any given Saturday Increase in Top End properties on and off market in key suburbs like Canterbury, Camberwell, Kew and Hawthorn Still two sales over $1million every day of July – although only three reported to [...]
This is a Market Performing Differently at Different Price Points

This is a Market Performing Differently at Different Price Points

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 59% for the 31 auctions we attended. Bidderman was at 1.5 – a more representative number than last week’s 2.2 we think.  Main Points: A significant, but largely expected, drop in activity and dollar value 3 Longstaff Kew East – sold by Glen Coutinho of Hocking Stuart, had a [...]
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 [...]
Risk v Reward

Risk v Reward

In much of our homebuying discussion, we often mention the supposed opposing forces of Risk v Reward. We mention them because a lot of homebuyers don’t act with any level of risk v reward consciousness in the homebuying process – in other words, they often make decisions without considering that, for every [...]
Risk v Reward

Risk v Reward

Risk v Reward In much of our homebuying discussion, we often mention the supposed opposing forces of Risk v Reward. We mention them because a lot of homebuyers don’t act with any level of risk v reward consciousness in the homebuying process – in other words, they often make decisions without considering that, for every action, there [...]
The Private Sale Clearance Rate in $M+ Melbourne was around 1 in 4 over last 6 weeks. However at auctions this weekend it was ‘even-stevens’ between Buyers and Sellers. Bidderman 2.2

The Private Sale Clearance Rate in $M+ Melbourne was around 1 in 4 over last 6 weeks. However at auctions this weekend it was ‘even-stevens’ between Buyers and Sellers. Bidderman 2.2

At 6pm Saturday the James Clearance Rate on the 22 $M+ Auctions we covered was 59%. Our Demand Indicator Bidderman was 2.2.  Hmmm – an interesting increase but it was off a very low turnover. Today’s Highlights 1)      Bidders were present at 18 of the 22 auctions we covered –  and at three auctions there were 6+bidders 23 [...]
C’mon let’s get on with it – there are homes to buy!

C’mon let’s get on with it – there are homes to buy!

This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year. Hopefully, this will help you as [...]
As expected – those that price correctly sell – those that don’t, won’t! However, if you are a buyer this price window doesn’t feel like it has any great permanence.

As expected – those that price correctly sell – those that don’t, won’t! However, if you are a buyer this price window doesn’t feel like it has any great permanence.

As we approach the shortest day of the year, we saw a record number of auctions in Boroondara on Saturday (compared to equivalent weekends in past years). Given the large supply, the market seems to have  some resilience. In fact, there is so much going on that  many key agents are delaying their traditional mid-year holiday by [...]
More and more choice for buyers and at good prices if you know how to buy well!

More and more choice for buyers and at good prices if you know how to buy well!

At 6pm Saturday the James Million-Dollar-Plus Clearance Rate on the 35 auctions we attended was 51%. Our Demand Indicator, Bidderman, was up at 1.7 – still hanging in there. PRICE CORRECTION There is no doubt the market has eased, “corrected” – call it what you like. One easy word to understand  is “dropped”. On a few properties it [...]
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 [...]
50/50 on the big stuff. A number of pass-ins but still 15 sales over a million in Melbourne’s north

50/50 on the big stuff. A number of pass-ins but still 15 sales over a million in Melbourne’s north

The standout auction was not necessarily a residential one with a development site going for $3,160,000 or $1600 per sq metre at 20 Park St Moonee Ponds (Andrew Johnstone of Nelson Alexander) Some good home sales 11 Bangalore Street in Kensington (Tony Downward of Biggin and Scott) and nice looking home  with all the bells and whistles [...]

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