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$3M+ market February market was a bit flat – except for Brighton

$3M+ market February market was a bit flat  – except for Brighton
Week Ending February 26th: If last week was the season opener for the $1m+ auction market, then this week was the beginning of the $3m+ auction market
Nearly everything sold in Malvern and Malvern East, but what happened in South Yarra?

Nearly everything sold in Malvern and Malvern East, but what happened in South Yarra?

Agent Q & A:“Do you feel there is currently a big difference in the results of sales of lower end ($1m) properties as opposed to those of higher end ($2m+) homes? Yes or no, and why?” Brad Fleming, JP Dixon, Toorak:”Across the board the demand for properties under $1 million is and always has been stronger [...]
$1 m+ market hotting up, but the $3m+ market still underwhelming

$1 m+ market hotting up, but the $3m+ market still underwhelming

At 6.00pm Saturday, the James Clearance Rate for the 31 Million Dollar Plus Auctions we covered was 74%.  The signs are there that the market has started with a hint of warmth about it. Bidderman was at 2, the $M+ Clearance Rate was 74% and this weekend’s Hammer rate was almost one in two. That’s a [...]
$3M+ market stumbles at 2011's first hurdle – except for Brighton

$3M+ market stumbles at 2011's first hurdle – except for Brighton

Week Ending February 26th: If last week was the season opener for the $1m+ auction market, then this week was the beginning of the $3m+ auction market and the main focus for this weekend’s report. We don’t have all this weekend’s numbers in yet, so it’s hard to call, but it [...]
Today was just a warm up and the market responded as well as it could

Today was just a warm up and the market responded as well as it could

Key Points: You can only buy what’s on offer, and a 61% clearance rate in last year’s Stonnington terms was a solid start The market was only tested in the lower echelons of price and seems unlikely to really be tested at $3m+ for some time as there appears to be minimal action in this price [...]
Felt the bounce here stronger than anywhere else

Felt the bounce here stronger than anywhere else

Key Points: I personally went to 8 auctions in Stonnington today – five were bought. Bidderman at the auctions I went to (7, 3, 7, 0, 4, 0, 4, 3) Agent chatter has been more upbeat this week than at any other time this Spring 376 Glenferrie Road Malvern with Iain Carmichael of Benmac – bought on Sunday [...]
Up, down and now back up this week. Next week?

Up, down and now back up this week. Next week?

Week Ending November 27th: The high end ($3m+) which like the proverbial brides nightie (not sure if I can say that) is up and down at the drop of a hat. A fortnight ago it was up and last week it was down – this week it was up and in a [...]
Stonnington stock on the increase, clearance rates seemingly stable

Stonnington stock on the increase, clearance rates seemingly stable

Key Points: Slightly healthier clearance rate in Stonnington this weekend with 63% on reported $1-million-plus auctions. However, we only saw 1 property sell under the hammer out of the 8 auctions we monitored, with 2 bought before, 2 bought after auction and the other 3 passing in.
October not as buoyant as September

October not as buoyant as September

End of October Report: October seemingly not as strong as September in these markets. What a difference a month and some increased stock levels make. If you have a look at our $3m section in October and compare it to our September report you will see a difference in activity – especially when you consider the [...]
Get Organised for the next Super Saturday – October 23rd

Get Organised for the next Super Saturday – October 23rd

The big news this week for homebuyers was not Gary Ablett or the GF Replay; it was the major stock inflows that took place on Monday, Tuesday and Wednesday when agents began their marketing campaigns for the next Super Saturday - October 23rd. Check out the size of the Weekly Review this week. While one weekend does not make a summer, we now seem to have finally started the Spring surge. Prior to the Grand Final(s) stock was particularly low and prices were definitely beginning to firm on the back of this.
September sees the re-emergence of Melbourne’s $3m+ Market

September sees the re-emergence of Melbourne’s $3m+ Market

September Executive Summary: Demand: Solid and increasing Reported Boughts: 46 Bidderman: Substantial improvement in bidders per auction at the higher level. Random cross section of bidders. 1/3/2/1/3/1/3/2/2/3/3/3/2/1/0/0 for a month average of 1.875 Supply: New Stock Low Overhang from May however new stock is still light on at end of September and that which comes on at a reasaonble price [...]
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 [...]
Activity continues to build in Stonnington – but it’s still baby steps.

Activity continues to build in Stonnington – but it’s still baby steps.

Key Points: We covered seven auctions in Stonnington on Saturday. Of those, four sold under the hammer and two after auction. Big crowds across the board, all auctions had in excess of 50 people. Biggest Auction of the Day: 24 Somers Ave, Malvern, Jeremy Fox, RT Edgar, Under the Hammer, $6,160,000. “The sunfilled courtyard seemed a perfect setting [...]
Right now, the overall market may be better than you think!

Right now, the overall market may be better than you think!

At 6pm on Saturday, the James Million-Dollar-Plus Clearance Rate was 72% for the 36 auctions we attended on a wild and woolly Melbourne Saturday afternoon. It was a tricky day for auctioneers, spectators, reporters and photographers, with cosy indoor or wet outdoor auctions the norm. Bidderman, our Demand Indicator, was at 1.6 bidders per auction.  We think Bidderman was [...]
It’s only one week – but Stonnington was the big improver today.

It’s only one week – but Stonnington was the big improver today.

Key Points: Only two from the nine we attended were bought under the hammer, however five from the nine were bought after auction Big improvement on Clearance Rates on reasonable number of monitored auctions (21 $M+) $3m+ sales this week: 1 Myamyn Street, Armadale – Andrew Macmillan of Bennison Mackinnon ($3,215,000) 6 Bonview Road, Malvern – Peter Bennison of Marshall White (0ver $3,600,000) 1 [...]

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