oc | Sunday 15th December

Market News » kay and burton


The $3m+ market is continuing to return to some life

The $3m+ market is continuing to return to some life
Another strong (well stronger than Winter) fortnight for auctions and private sales over $3m. Rather than wax lyrical lets look at some facts. See below for results, reports, ratings and analysis. Full Auction Report: Click here https://www.marketnews.com.au/auction-reviews/8807/42-Wattle_Valley-Road-CANTERBURY Full Auction Report click here: https://www.marketnews.com.au/auction-reviews/8705/24-Somers-Avenue-MALVERN Full Auction Report: Click here https://www.marketnews.com.au/auction-reviews/8829/4-Forrest-Court-TOORAK Full Auction Report click here: http://www.james.net.au/rating/49-Harcourt-Street-HAWTHORN_EAST Full Auction Report click here: https://www.marketnews.com.au/auction-reviews/8670/1-Myamyn-Street-ARMADALE/ Full Rating click here: http://www.james.net.au/rating/6-Head-Street-BRIGHTON Full Video [...]
Understanding agent cultures

Understanding agent cultures

Different cultures have different values and different interpretations of what appear to be the same thing. Just as business people need to find the most appropriate way to interact with, and do business with, people of other cultures, so too do home buyers have to find the right way to deal with selling agents.
Brighton’s $3m+ market moves out of the doldrums – for this week anyway. Longer term the jury is still out!

Brighton’s $3m+ market moves out of the doldrums – for this week anyway. Longer term the jury is still out!

August has seen a bit more noise in the $3m+ market and deals are seemingly back on the agenda at this price level. In Ivanhoe two bidders fought it out for over a million dollars to get to the $4,300,000 result, as the above picture states  – a full $800,000 over a fair and reasonable reserve. [...]
Everything Sold – 12 from 12. Impressive Prahran sold 6 from 6.

Everything Sold – 12 from 12. Impressive Prahran sold 6 from 6.

Highlights: Everything sold that we were monitoring – 12 from 12. Hard to argue. Two five bidder auctions – both Tom McCarthy and Philip Moore of Biggin and Scott –  14 Green Prahran – $1,653,000 and 13 Hornby Street – $1,476,000. Prahran was hot because it also had the second highest sale at 41 Closeburn Prahran with Andrew Macmillan of Benmac – [...]
Just ticking along – very few big sales reported. The TOP of the TOP end is not happening like it was.

Just ticking along – very few big sales reported. The TOP of the TOP end is not happening like it was.

In Stonnington this weekend we monitored 14 properties, of which 8 were reported as bought before, at or after auction. Bidderman was a surprising 2.3 – surprisingly good given the stock quality This gives a clearance rate of 57%. For the corresponding week in May of this year we monitored 18 properties at auction at which 12 [...]
Two-faced Bayside. Under $2m – action. Over $2m – still a bit sleepy.

Two-faced Bayside. Under $2m – action. Over $2m – still a bit sleepy.

Bayside this week had a clearance rate of 7 from the 11 monitored properties this week – or 63%. This was up on the 40% to 50% of the last few weeks in May, but it was on a smaller turnover. Bidderman, our demand indicator, was 1.3 bidders per auction – which is still lowish if [...]
The Toorak high wire balancing act. Price is a fickle animal in June 2010.

The Toorak high wire balancing act. Price is a fickle animal in June 2010.

Talking with James Connell of Marshall White as he scoots off for a bit of a break, he tells me the market is sound with no real price drops. When you get the figure of 140 sales in May for Marshall White, it’s hard to argue with that. It’s also hard to argue when Kay and Burton’s [...]
Waving not drowning – even some bidding. Things seem to be balancing back (a bit) over the last fortnight.

Waving not drowning – even some bidding. Things seem to be balancing back (a bit) over the last fortnight.

Stonnington seems to have got itself back into the game with a second “OK, sort of – almost normal” auction week in the 60’s clearance rate wise. We monitored 23 homes of which 15 were bought; that’s a 65% clearance rate (last week 69%). Of the auctions we  attended 7 of the 10 were bought. What’s happening? Price reduction is [...]
A bit of gloom (for sellers) if you’re auctioning in Bayside and we’re not talking about the weather

A bit of gloom (for sellers) if you’re auctioning in Bayside and we’re not talking about the weather

A bit of gloom maybe an understatement.  We covered 10 properties auctioned in Bayside today over $1,000,000 and saw a clearance rate of  zer0!  That’s right, nothing was bought under the hammer today.   6 bidders in total, and Park Road, Sandringham had two of them.   That’s Bidderman at 0.6.  Properties to pass in today on vendor bids  [...]
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 [...]
WOW and we said the market was frosty – it’s cooling, but frosty was too harsh. K&B continues the strong results and RT Edgar joins in.

WOW and we said the market was frosty – it’s cooling, but frosty was too harsh. K&B continues the strong results and RT Edgar joins in.

Stonnington was surprisingly strong with Park St South Yarra (Warwick Anderson of RT Edgar) going well past $3,900,000 on multiple bidding; 81 Clendon Road Toorak (Gerald Delany of Kay and Burton) selling post auction north of $7,350,000 and 64 Burke Road Malvern East selling before for 3,320,000 or $1366 per sqm for main road land. The [...]
Market change – we know it has, so why is the next question. Is it supply up (shorter term) or demand down (longer term)?

Market change – we know it has, so why is the next question. Is it supply up (shorter term) or demand down (longer term)?

Its 6.00 pm Saturday and the James $Million+ Clearance Rate on the 36 auctions we attended was 64%. Interestingly, 20 of the auctions initially passed in. Therefore we witnessed an under the hammer clearance rate of 41% – obviously a number were bought almost immediately afterwards. Bidderman is up from 1.5 last week to 1.8 bidders per auction this [...]
It was “pass-in” city this week. Get ready for EOI’s and a whole new way on how to buy a Bayside home!

It was “pass-in” city this week. Get ready for EOI’s and a whole new way on how to buy a Bayside home!

Eight bought at auction and 12 passed in (10 on a vendor bid) – that’s a James $Million+ clearance rate of 40%. Having said that, 7 $M+ homes were sold mid-week in Bayside so the market isn’t in hibernation. As more $3M+ auctions fail and vendors ask the question `why spend $30,000 on a failed auction [...]
Kay and Burton strong month says the market is not dead yet in Trak town!

Kay and Burton strong month says the market is not dead yet in Trak town!

  In Toorak and South Yarra it was 50% at auctions today – which actually wasn’t that bad when compared to the last few weeks. Stonnington today had a reported clearance rate including Glen Iris over $1m of 66% (12 from 18). Not a lot to be taken from specific results today except to say that [...]
Enjoy the footy as not many auctions this Saturday afternoon to talk about

Enjoy the footy as not many auctions this Saturday afternoon to talk about

Smaller numbers of homes over $1,000,000 for auction in Bayside this weekend – we only had 14 to look at.  We covered six and three sold, three passed in.  Of the three that sold there were two bidders on each and there were no bidders on those that passed in. Stephen Tickell of Hocking Stuart successfully [...]

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