oc | Sunday 8th December

Market News » malvern east


Election. What Election? No effect whatsoever!

Election. What Election? No effect whatsoever!
At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 49% for the 37 auctions we attended. By 8pm it was 62% (seemingly a balanced result between buyer and seller). Bidderman, our Demand Indicator, was at 1.6 – a level we feel continues to be a good representation of current demand: borderline – a  market that may be [...]
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 [...]
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 [...]
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 [...]
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 [...]
Nathan Waterson, Bennison Mackinnon

Nathan Waterson, Bennison Mackinnon

Nathan Waterson – Focusing on Stonnington Kristen: Hi Nathan. Nathan: Hi Kristen. How are you? Kristen: Good thank you. I’m here today with Nathan Waterson one of the partners at Bennison Mackinnon, he’s been there for five years now. We are just going to have a bit of a chat about the market and what’s [...]
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 [...]
Are Vendors Getting Ahead of Themselves? South Yarra and Toorak were almost bidder free today.

Are Vendors Getting Ahead of Themselves? South Yarra and Toorak were almost bidder free today.

Of the 11 Stonnington auctions we attended today, four properties sold under the hammer, one before with the balance passed in (one of those six has since been reported as sold). Of the pass ins, five were passed in with no bids (apart from a vendor bid). So are vendors getting ahead of themselves? Let’s first look at what [...]
$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 [...]
Stonnington Wrap – A week is a long time in Real Estate

Stonnington Wrap – A week is a long time in Real Estate

The doom-sayers will be quiet for a while after some very good results in the area this week. Of the 10 auctions we attended this Saturday, 8 sold under the hammer while 2 were passed in. The outstanding results were 16 Mercer Rd Armadale ( where some additional capital will be required to renovate) which saw [...]
Slower in South Yarra and Toorak

Slower in South Yarra and Toorak

If the vendor and/or the vendor’s agent get a touch  aggressive concerning the price of a property in this market, the property is more likely to be passed in – and the only way to sell it is to meet the market. Andrew McCann of Ben Mac stills believes there is plenty of demand out [...]
Stock Quality was down. Significant drop in Bidderman and Clearance Rates at Today’s $m+ Auctions. A hiccup or the start of a rebalancing? It’s only one day so stay tuned!

Stock Quality was down. Significant drop in Bidderman and Clearance Rates at Today’s $m+ Auctions. A hiccup or the start of a rebalancing? It’s only one day so stay tuned!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate from the 31 Auctions we attended today was 61 per cent. Wow that was a bit of a surprise! Please note we thought the quality of the homes on offer was not as high as the last two weeks in February or the upcoming March 27th auction [...]
Mixed in Toorak and South Yarra

Mixed in Toorak and South Yarra

Not a whole lot on offer today and certainly minimal quality for the most part. Something old, something new. What sells? Well this week it was something old. Two good old sales were: 140 Kooyong Road with Iain Carmichael of Bennison Mackinnon (James Rating 691/1000) which sold for a bullish $4.04 million after being on the [...]
Toorak, South Yarra through Malvern, Glen Iris, Malvern East and Armadale

Toorak, South Yarra through Malvern, Glen Iris, Malvern East and Armadale

Stonnington was mostly “ON” today with Tim, Robert and Jock of Abercrombys getting the two strongest results away. 4-6 Vincent St Glen Iris selling for over $4m and 3 Auburn Grove in Armadale going for just over $3m. The latter a particular good selling result and I acknowledges I was wrong [...]

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