oc | Thursday 12th December

Market News » Kew


Dear Buyer God – we may need your help in Boroondara again please.

Dear Buyer God – we may need your help in Boroondara again please.
Key Points: Of the 10 auctions we attended in Boroondara on Saturday, all but one either sold under the hammer or was bought after auction. Canterbury 7 from 8 over a million were bought at auction today. Highlight auction was 49 Harcourt Ave, Hawthorn East, James Tostevin, bought in excess of $7 million. Weakest areas were Balwyn and [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Strong Clearance Rates considering the big numbers of auctions. Yes it has eased, but Bidderman still looks to have some legs.

Strong Clearance Rates considering the big numbers of auctions. Yes it has eased, but Bidderman still looks to have some legs.

In contrast to last week, we saw all 9 properties we covered over $1,000,000 today, sell.   Three sold before auction, 3 sold under the hammer and 3 were bought after.  That’s a 100% clearance rate and Bidderman was back up to two. Five of the nine properties had two or more bidders.  Richard Jellis of Jellis Craig [...]
Not a stellar weekend for stock quality but the winds of change are no longer blowing – they’ve blown. The market HAS changed.

Not a stellar weekend for stock quality but the winds of change are no longer blowing – they’ve blown. The market HAS changed.

1) Its 6.00 pm on Saturday and the James Clearance Rate for the 32 auctions we attended was 47%. May of course rise overnight as more results are reported. 2) Bidderman – now at 1.5 and falling. Significant change from a month ago. 3) This weekend is the weakest of the Big 5 auction weekends in May as far [...]
The frenzy has eased but the numbers are still strong. Nine from ten bought on what we witnessed today.

The frenzy has eased but the numbers are still strong. Nine from ten bought on what we witnessed today.

Boroondara was solid again and although Bidderman is not at the stellar 3 of a month or so ago – at 2.3 bidders per auction in Boroondara – it is still strong. There was only one sale around the $3m mark this week; so its hard to say the TOP END market is better than [...]
$2m+ is leveling quickly as buyers become more discerning on price; but $1m+ remains full steam ahead on almost anything!

$2m+ is leveling quickly as buyers become more discerning on price; but $1m+ remains full steam ahead on almost anything!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 36 Auctions we attended today was a solid  75 per cent on good stock numbers. The “frenzy” feel has left the highest of the higher end market for now as the new age businessman and establishment money, who determine the Toorak market, reconsider after (1)    looking at [...]

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