oc | Monday 9th December

Market News » rt edgar


Bayside still shining the brightest – more stock coming on pre Easter will re-test its underlying 2011 strength

Bayside still shining the brightest – more stock coming on pre Easter will re-test its underlying 2011 strength
Key Points: Two Land Sale Volcanoes 4+ bidder auctions below: 11 William St Brighton with Rod Richardson of Hocking Stuart – $3,100,000 for 1383 sqm of land = $2,241 per sqm for land in central Brighton. Solid and expected result. 5 bidders. 5 Horton Close Brighton with Campbell Cooney of Hodges – just off the north end of [...]
So-so weekend, but stock wasn’t that exciting. Wow on Howe – Big $6m+ sale.

So-so weekend, but stock wasn’t that exciting. Wow on Howe – Big $6m+ sale.

Key Points: The overpriced are as cold as ice in Port Phillip right now. No bites, no action – as evidenced by the pass-ins of yesterday and the first two weeks of this market. Overall the year has started better than anticipated but pass-in vendors will need to adjust if they want to attract buyers. I went to [...]
Where the big action was this weekend – 7 sales over $3m this week – 70% Clearance Rate.

Where the big action was this weekend – 7 sales over $3m this week – 70% Clearance Rate.

Key Points: It’s all about the bigger deals this week: Malvern 19 Hamilton – Justin Long – At Auction – $4,357,000 Malvern 66 Claremont – Iain Carmichael – At Auction – $3,700,000 Toorak 9 Ross – Justin Long – Auction – over $3,600,000 Toorak – 3 Teringa – Andrew(s) McCann and Macmillan of Benmac – post last weeks auction [...]
Stock Surge Dilutes Bidder Numbers

Stock Surge Dilutes Bidder Numbers

At 6pm on Saturday the James $M+ Clearance Rate on the 32 auctions we covered dipped to 59%. For the second week in a row there were around 150 new $M+ listings in our main coverage area of Bayside and the Inner East. Buyers have firmly said to sellers – “if it ain’t priced right [...]
$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
$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 [...]
Finishing Spring stronger than it started.

Finishing Spring stronger than it started.

Key Points: We covered 8 auctions in Bayside – not one was bought under the hammer but half sold after auction. The biggest sale was recorded at 4/23 St Ninians, Brighton (Stewart Lopez of Kay and Burton), which was bought for $4,825,000. The biggest pass in was at 29 Sussex, Brighton (Greg Costello, RT Edgar), $3,350,000, no bidders Agent [...]
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 [...]
Super Saturday showed that Stonnington has lost its way.

Super Saturday showed that Stonnington has lost its way.

Key Points: 7 of the 9 Stonnington auctions we attended had no bidders at all, while the remaining two had only one bidder each and this was on a good quality stock day. While there were 18 buys over $1 million, remember that $1 million is entry level here. Why is the Stonnington market so poor? Our left-field and [...]
Mixed at 55% this weekend – but we do have next week to look forward to

Mixed at 55% this weekend – but we do have next week to look forward to

Key Points: Of the eight Stonnington auctions we attended, only two were bought under the hammer – 19 Karma Ave, Malvern East (Karl Fitch, Noel Jones), for $1,241,000, and 1 Nareeb Crt, Toorak, (Jeremy Fox, RT Edgar), for $2,710,000. Karma Ave had five bidders, but there were only five bidders in total across the remaining seven [...]
Backward Bidding

Backward Bidding

Backward bidding is about throwing stones, it’s about fighting back, it’s about saying enough is enough.
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 [...]
Understanding agent cultures

Understanding agent cultures

Different cultures have different values and different interpretations of what appear to be the same thing. Just as business people need to find the most appropriate way to interact with, and do business with, people of other cultures, so too do home buyers have to find the right way to deal with selling agents.
Dear Buyer God – we may need your help in Boroondara again please.

Dear Buyer God – we may need your help in Boroondara again please.

Key Points: Of the 10 auctions we attended in Boroondara on Saturday, all but one either sold under the hammer or was bought after auction. Canterbury 7 from 8 over a million were bought at auction today. Highlight auction was 49 Harcourt Ave, Hawthorn East, James Tostevin, bought in excess of $7 million. Weakest areas were Balwyn and [...]

Inside James Market News