oc | Monday 9th December

Market News » rt edgar


The Million dollar plus market still has some very strong results; but we are seeing a slight easing of demand continuing on the overpriced or less than perfect.

The Million dollar plus market still has some very strong results; but we are seeing a slight easing of demand continuing on the overpriced or less than perfect.
It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 27 Auctions we attended today was 65 per cent. Bidderman remained steady at 2 bidders per auction. However 1 in 3 of the auctions we attended today had no bidders. 33% of auctions (on OK James rated homes) had no bidders under the hammer today!! If you look [...]
The million dollar-plus view

The million dollar-plus view

This article was written in The Age, Business Day section. http://www.theage.com.au/business/property/the-million-dollarplus-view-20100314-q62r.html AS BUYER advocates, my colleagues and I attend 30 to 50 auctions a week and 100 or so open for inspections of properties in inner Melbourne’s million-dollar-plus residential market. We are regularly asked what’s happening in the million-dollar-plus market, what’s driving this market, [...]
No shortage of bidders in the North

No shortage of bidders in the North

With almost 4 bidders at every auction its hard to see this market slowing down. Crowd numbers are up, Bidderman is up and you guessed it prices are strong. However it was the tale of two properties in Argyle Place Carlton with 11 Argyle Place (Phillip French RT Edgar) passing in for $2.25 million without a single bid whilst 26 Argyle [...]
2010 is going to be your year of the good decision

2010 is going to be your year of the good decision

It’s 6pm and the James million-dollar-plus clearance rate is 83% on the 30 auctions we attended. Bidderman was 3.0 per auction with only 4 from 30 auctions attracting no Bidderman and 7 from 30 auctions attracting Bidderman 6 or more. The highlight of today’s auctions was a $7 million sale at 14 Scotsburn Grove Toorak selling [...]
Stonnington Land maybe the new gold or is it the houses?

Stonnington Land maybe the new gold or is it the houses?

At the end of last year there were a couple of auctions in Toorak which serve as benchmarks for land value – at least for normal Stonnington properties. The first sale was at 44 St Georges Road. This 600 square metres of land – with a knockdown house on it, sold at auction through Gowan Stubbings [...]
Toorak, South Yarra through Malvern, Glen Iris, Malvern East and Armadale

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

Leaving out Glen Iris – talked about that in Boroondara wrap – we saw 24 $m campaigns this week with a seller disconcerting 10 passed in at auction. That is a clearance rate of 58% and the main reason the overall James Clearance Rate is as weak as it is today. Why? Price is why? Many vendors [...]
Toorak, South Yarra through Malvern, Glen Iris, Malvern East and Armadale

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

Around 15 $m+ properties sold at auction today, with the highest reported sale price at 18 Winifred Cres Toorak which sold for $4.21 million. Gerald Delany and Clive Nettlefold of Kay and Burton. Good job, considering most others at this level failed to sell today. Although stronger this week, sellers didn’t have it all [...]
In the trenches: report on million-dollar Melbourne

In the trenches: report on million-dollar Melbourne

It is 6pm Saturday and the James Auction Clearance Rate on the 32 $1m+ properties we attended and reported on today was 72 per cent. The REIV’s clearance rate was declared at 82 per cent but they are missing around 200 auction results and our guess is the clearance rate has dropped below 80 per [...]
A Story of Courage and Leadership.

A Story of Courage and Leadership.

It’s 6pm Saturday and the James Clearance Rate for million-dollar-plus auctions is 83 per cent on the 24 auctions we attended today. The big news is on a very large day for auctions the bidder numbers per auction has actually risen dramatically to 3 per auction despite the interest rate noises. This is substantial [...]
Well done Bennison Mackinnon

Well done Bennison Mackinnon

Well done, Iain Carmichael. Well done, Richard Mackinnon. Well done to all directors of Bennison Mackinnon Armadale. Have you noticed a change in the air in Stonnington, have you noticed the new hot Armadale company to sell your home through? Bennison Mackinnon. They have taken a stance on buyer respect and it seems [...]
Bidderman did not miss a beat today – still at 2.3 bidders per auction.

Bidderman did not miss a beat today – still at 2.3 bidders per auction.

It is 6pm Saturday and the James Clearance Rate for million-dollar-plus auctions is 74 per cent on the 19 auctions we attended and reported on today. What effect did the interest rates have this weekend? Nil. The only thing we noticed was a few more bought befores, maybe meaning a couple of nervous vendors. We saw 51 [...]
Q&A with Buxton’s Brighton Director David Hart

Q&A with Buxton’s Brighton Director David Hart

It took us a little while to get to know David Hart but, once we did, we have found him a straight shooter, an accurate price and market reader and a person you can do deals with. He is actually somebody you can have a good conversation with and, when he does [...]
Covering Toorak, South Yarra, Armadale, Caulfield, Malvern and Malvern East

Covering Toorak, South Yarra, Armadale, Caulfield, Malvern and Malvern East

Of the 19 $1 million-plus auctions we looked at today in Stonnington (inc Glen Iris) 17 sold, or 90 per cent. Couple of highlights: 37 Armadale St Armadale with Bennison Mackinnon, which had been hanging around for a few weeks post-auction, sold for, we believe, a tick under $2.3 million. 9 Valley View Road with Maddie Kennedy [...]
Covering Toorak, Malvern, Armadale, South Yarra, Caulfield and Elsternwick $1m+ homes

Covering Toorak, Malvern, Armadale, South Yarra, Caulfield and Elsternwick $1m+ homes

Andrew McCann of Bennison Mackinnon says we are now very close to 2007 prices. Apartments Sam Wilkinson and Tim Blackett of Kay and Burton got 2-4 Lansell Road Toorak away pre-auction. It was a $2 million-plus sale but the apartment market at the Top End really does appear to be non-existent right [...]
There was a real loathing from buyers today as they did what they had to – pay more than eight weeks ago.

There was a real loathing from buyers today as they did what they had to – pay more than eight weeks ago.

It’s 6pm Saturday and we have been to 16 auctions (less than usual because there is a real shortage of $1 million-plus auctions that are worthwhile covering) and the James Clearance rate is 81 per cent. Please note our Chinese translation and Wormy to the right (our price opinion and a general guide [...]

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