oc | Sunday 15th December

Market News » Toorak


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 [...]
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 [...]
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 best pre-negotiation tool may be a coffee

The best pre-negotiation tool may be a coffee

If you feel that a win-win style will work for you; then you need to give a little to get a little before you can finalise a strategy. Prior to starting one on one negotiations, you need a forum for pre-negotiation discussions and I much prefer a coffee to a phone line. Naivety, experience and lack of preparation are not good prerequisites for the sorts of meetings I outline below, so if you don't feel it's you or if you have loose lips then engage a professional.
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 Private Sale Clearance Rate in $M+ Melbourne was around 1 in 4 over last 6 weeks. However at auctions this weekend it was ‘even-stevens’ between Buyers and Sellers. Bidderman 2.2

The Private Sale Clearance Rate in $M+ Melbourne was around 1 in 4 over last 6 weeks. However at auctions this weekend it was ‘even-stevens’ between Buyers and Sellers. Bidderman 2.2

At 6pm Saturday the James Clearance Rate on the 22 $M+ Auctions we covered was 59%. Our Demand Indicator Bidderman was 2.2.  Hmmm – an interesting increase but it was off a very low turnover. Today’s Highlights 1)      Bidders were present at 18 of the 22 auctions we covered –  and at three auctions there were 6+bidders 23 [...]
C’mon let’s get on with it – there are homes to buy!

C’mon let’s get on with it – there are homes to buy!

This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year. Hopefully, this will help you as [...]
C’mon let’s get on with it – there are homes to buy!

C’mon let’s get on with it – there are homes to buy!

This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year. Hopefully, this will help you as [...]
C’mon let’s get on with it – there are homes to buy!

C’mon let’s get on with it – there are homes to buy!

This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year. Hopefully, this will help you as [...]
C’mon let’s get on with it – there are homes to buy!

C’mon let’s get on with it – there are homes to buy!

This week we have combined the council wraps. There is little to report within specific council areas, and for those who normally just read one wrap we hope you will benefit from looking at some data graphs across the council areas that confirm what we have been saying so far this year. Hopefully, this will help you as [...]
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 [...]
As expected – those that price correctly sell – those that don’t, won’t! However, if you are a buyer this price window doesn’t feel like it has any great permanence.

As expected – those that price correctly sell – those that don’t, won’t! However, if you are a buyer this price window doesn’t feel like it has any great permanence.

As we approach the shortest day of the year, we saw a record number of auctions in Boroondara on Saturday (compared to equivalent weekends in past years). Given the large supply, the market seems to have  some resilience. In fact, there is so much going on that  many key agents are delaying their traditional mid-year holiday by [...]
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 [...]

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