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Port Phillip Weekly

Port Phillip Weekly
There were only five $1m plus auctions in Port Phillip this weekend. So I compared it with the same weekends in 2011 and 2010. It turns out there were 13 auctions scheduled for those weekends, representing a decline of about 38%. To get some clarity on where the real estate market is heading I spoke [...]
May ends with the biggest auction of the year – but turnover down going into Winter

May ends with the biggest auction of the year – but turnover down going into Winter

End of Autumn in a nutshell: Some life at the Top of the Top End with sales over $7m under the hammer at Seacombe Brighton (John Bongiorno) and Mayfield Malvern (Gerald Delany) and through private sale at Domain South Yarra (Andrew Baines) and Hampden Armadale (Jeremy Fox). This follows on from last month’s 5 sales circa [...]
April may be quiet in terms of turnover, but not in terms of quality with three $10M+ transactions so far

April may be quiet in terms of turnover, but not in terms of quality with three $10M+ transactions so far

Saturday April 21st: 22 South Road Brighton (Peter Hickey) Bought After $3,255,000 James Auction Report: Thought I would come to see the only $3m auction on offer today – that is if it is actually gets $3m+.  Auctioneer Mark Earle strides out in front of a crowd of around 60 and launches into a synopsis of [...]
By any measure it was a slow start to 2012 at the upper level!

By any measure it was a slow start to 2012 at the upper level!

As we come to the end of February most of the work we are involved in at this price level is off market or pre market – meaning not advertised or not yet advertised (and may not be). However two really good properties, currently beginning public selling campaigns (we have been through and rated), should [...]
A strong-ish start to the Top End after The Cup – but a lot of stock is now here and more on the way. Getting tougher as the month goes on!

A strong-ish start to the Top End after The Cup – but a lot of stock is now here and more on the way. Getting tougher as the month goes on!

Monday 28th November – 57 Cole Brighton ( Peter Kennett of Hocking Stuart). A family home with some floor plan issues that has been on the market for sometime, has been bought after a few interested parties were gathered together in an Expressions of Interest Campaign and one person popped up over $3,000,000. We rated [...]
The Block broke all the rules in the book

The Block broke all the rules in the book

The Block was great entertainment – but for me it was also the best reality TV show in a decade because it showed the harsh reality of what happens when you break all the rules in the property investment book. I took the opportunity to go through each property a few weeks before the auctions and [...]
We all waited with bated breath … AND

We all waited with bated breath … AND

Yes it was a bit of a dog of a day for the market this weekend, but it was not an absolute shocker.  And really, what else could you have expected! At 6pm on Saturday, the James Clearance Rate for $M+ was 52% on the 25 auctions we attended. We have seen worse. The Weekly Review Bidderman, [...]
Into Winter hibernation already

Into Winter hibernation already

Week Ending May 28th: Highlights were few and far between but seemed to be a Marshall White auction day in Stonnington. Standout was 46 Elizabeth St Malvern with Justin Long and Rae Tomlinson Camberwell 14 Royal Avenue with Geordie Dixon was bought we believe for just over $3,000,000 Toorak 37 Lansell which has been around for a [...]
Mixed in the $M+ Bayside fringes

Mixed in the $M+ Bayside fringes

Overall Bayside seems to be going backwards in terms of market dynamics, with the $M+ fringes (ie Beaumaris) having very mixed results Three vacant blocks of land, high on the Balcombe Rd hill, sold before auction for $1,400,000 each – that’s a total of $4,200,000. Another Balcombe Rd, Beaumaris property sold before it was due to go [...]
A lot of off-markets to look at, but little purchasing being done in the high end.

A lot of off-markets to look at, but little purchasing being done in the high end.

The flier: Toorak 20 Gordon – Matthew Morley of Morleys – On the market at $2,500,000 and bought for $2,925,000 A tale of two homes: I’ve visited, considered and rated both these homes in the 700’s (above average). 30 Sutherland Armadale with Nathan Waterson of Benmac fired up and was bought under the hammer for $5,110,000. [...]
Like previous weeks, not much happening in Stonnington

Like previous weeks, not much happening in Stonnington

Are we in for some Super Saturdays at the end of this month? Justin Long, Marshall White (Armadale): “There are traditionally 4 or 5 very solid auction weekends in May, but with Easter falling so late in the piece, the first 2 weekends have not found favour with vendors. As a result, the 21st and in [...]
Nervous Bidders are losing the plot – and costing themselves a lot of money.

Nervous Bidders are losing the plot – and costing themselves a lot of money.

At 6pm on Saturday, the James Clearance Rate for $M+ properties in Melbourne was 55% on the 29 auctions we attended. We covered around half the $M+ auctions this weekend. May is looking very lean for auctions and today was almost a non event auction wise The Weekly Review Bidderman, our demand indicator, was 1.2 bidders [...]
Uncertain times and new $3m+ stock not as strong as May last year

Uncertain times and new $3m+ stock not as strong as May last year

Week Ending 30th April: Back from a week or two off, this market now, has a fairly clear run till Christmas, with a only brief breaks for a couple of holiday weekends. Over the next four to six weeks we should see more choice and some reasonable activity (although not expected anywhere near [...]
Double-fronter or two storey, single-fronted cottage?

Double-fronter or two storey, single-fronted cottage?

  Should you buy a double-fronted house or a single-fronted cottage with upstairs extension? You might think there’s no contest, especially when it comes to a Victorian style  house. Why would you buy a house the width of a single room plus hallway, when you could have a nice wide house with two cheerful windows either side [...]
Buyers sit on the fence, hands in pockets.

Buyers sit on the fence, hands in pockets.

At 6pm on Saturday the James Clearance rate for $M+ was 57% on the 30 auctions we attended. That was well down on last week’s cameo of excitement, but understandable giving the quality change between this week and last week at the Top End. Bidderman, our demand indicator, was 1.5 bidders per auction. However the quality [...]

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