oc | Friday 6th December

Market News » malvern


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. [...]
There are buyers around but no exciting stock. However, the market may be stronger than it appears.

There are buyers around but no exciting stock. However, the market may be stronger than it appears.

Key Points: We covered 7 auctions across Stonnington today. Four had 3 bidders or more and 3 had none. This is a true reflection of Stonnington now: good stuff gets support but there is precious little of it on offer. Analysis: Our view is that demand is there – and this is supported by our buyer [...]
The $3m+ market starting to make a bit of noise.

The $3m+ market starting to make a bit of noise.

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 58% for the 24 auctions we attended. Of those, eight sold under the hammer. Bidderman, our Demand Indicator, increased to nearly 1.5 bidders per auction. However, a third of the auctions we attended still had only one bidder. Due to the election we have a reduced coverage this weekend
Stock is coming on – prices are going where….?

Stock is coming on – prices are going where….?

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 50% for the 38 auctions we attended. Of note is the fact that only 1 in 4 sold under the hammer. On Sunday the post-auction clearance rate rose to 66% on all 61 monitored properties. That tells us that the market is right on the brink, but [...]
$3m+ market is missing! Why? Election?

$3m+ market is missing! Why? Election?

At 6pm on Saturday the James Million-Dollar-Plus clearance rate was 59% for the 29 auctions we attended. Bidderman, our Demand Indicator, increased to nearly 2 bidders per auction. We’d expect this on low stock and activity levels. But, significantly, the trend seems to be up on average stock supply. Market: Balanced, or lacking direction or, as both [...]
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 [...]
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 [...]
Somebody wake me up if something happens in Stonnington

Somebody wake me up if something happens in Stonnington

I might as well have stayed in bed today and watched the footy. Look at the Stonnington results below of auctions we attended. Bought Before, Pass-In, Pass-In, Pass-In, Bought Before, Pass-In, Pass-In, Pass-In, Pass-In. I suppose Gerald, Iain, Justin, Jeremy and Gowan could of slept in as well – lord knows the bidders did. Good news is at [...]

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