oc | Sunday 29th March

Market News » median price


Life is good

Life is good
G’day Mal James here. I wrote this piece as I wanted to. I have written about how I feel in this market and I’m not asking you to feel the same way. So it’s ok to switch off now rather than wade through my mud, but there are some sprinkles of gold in here by the way! Life is good I love what [...]
3 Cheers for Daniel Andrews and Consumer Affairs Victoria!

3 Cheers for Daniel Andrews and Consumer Affairs Victoria!

Welcome to Part 1, of the James Big 3 Reports on the changes in the $2M+ inner Melbourne market. In Part 1, we discuss the first change, under quoting. Parts 2 and 3 will be published in the coming weeks. On May 1st 2017, we will hopefully be entering a new era; one that will make our [...]
Solutions for Young Homebuyers – Bumper Winter Issue

Solutions for Young Homebuyers – Bumper Winter Issue

6.00pm Saturday June 20th – Mid Term Report Market is in wind down mode re new stock, as most good agents are beginning to break for winter school holidays. Next week is the last serious week of auctions, until early spring. Any market read on any winds of change, won’t be meaningful until September, when larger numbers [...]
Some Chinese buyers have worked out agent quoting, but many local buyers appear to have not.

Some Chinese buyers have worked out agent quoting, but many local buyers appear to have not.

At 6.00 pm on Saturday, the James Clearance Rate for Melbourne’s $M+ property was 90% on the 30 auctions we covered. James Bidderman, our bidders per auction measurement continues to be through the roof on big stock numbers at 2.9. Hello, did we write 90% on big auction numbers  and Bidderman nearly 3 – is this real? [...]
Northern Weekly

Northern Weekly

One auction we were looking forward to this weekend in the inner north-west was 19 Richardson Street in Essendon (Christian Lonzi, Frank Dowling Real Estate – Essendon). This is a grand looking home, although not overly large, but it was well-renovated and had a lovely feeling. It lacked an ensuite and the flats to one [...]
Depth of demand holds up on another weekend of big numbers.

Depth of demand holds up on another weekend of big numbers.

At 6.00 pm the James Clearance Rate for Melbournes $M+ was 65% and The Weekly Review Bidderman, our bidders per auction measurement, was a solid 2.2. Last weekend we reported a strong start for our first Super Saturday, with Bidderman a very healthy 2.2 bidders per auction on big numbers of stock on offer with almost everywhere [...]
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 [...]
We are still seeing at least one Million-plus home bought every ninety minutes in Melbourne

We are still seeing at least one Million-plus home bought every ninety minutes in Melbourne

Volume: Has a lot changed in Million Dollar Melbourne between April 2010 and April 2011? Well, yes and no. April 2010 had around the same number of REIV reported $1m+ sales (maybe a 10% variance with the chance of late reported April 2011 sales to bring the April 2010 and April 2011 numbers closer together) [...]
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 [...]
It was struggle street out there today (for many sellers).

It was struggle street out there today (for many sellers).

At 6pm on Saturday the James Clearance Rate for the 35 $M+ auctions we covered was an almost icy 46%. Bidderman today remained at a market cooling 1.4 bidders per auction - so we seem to be now firmly in the grip of the Winter chill.
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 [...]
What is happening in Sydney…?

What is happening in Sydney…?

As we have been up in Sydney recently we thought it might be an opportune time to bring you some news North of the border. A couple of key difference’s when buying property up in Sydney:  Not all prestige property is auctioned with auctions representing approximately  50% of transactions. When at Auction you have to register [...]
Inner Melbourne strong and seemingly getting stronger!

Inner Melbourne strong and seemingly getting stronger!

Its been a few weeks since our last update and despite the recent interest rate rises the market broadly is still where we left off – moving upwards. Starting at the Top End of Town in East Melbourne a crowd of 60 strong witness 50 Berry Street pass in on an opening vendor bid of $1.9 [...]
By the Way, Buy the Bay – Before somebody else does!

By the Way, Buy the Bay – Before somebody else does!

Port Phillip seems to be firing along on all cylinders with 16 properties sold over a million since our last report just before Easter. You know how we said land in the good parts of Elwood was around $3000 per sq metre before Easter. Well that was before Easter now it’s after Easter and land [...]
Over a $Million: 14 from 16 reported sold at auction today and another 21 bought since Easter!

Over a $Million: 14 from 16 reported sold at auction today and another 21 bought since Easter!

Strength was seen in quality properties today, however, there were still a few surprise pass-ins.  Well-positioned land with homes of minimal value (some could argue no value) led the way.  4 Arkaringa, Black Rock, was auctioned by Campbell Cooney of Hodges and sold for almost $2,350 sqm (if there is no value in the house).  [...]

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