oc | Sunday 15th December

Market News » Toorak


The Winter of Waiting?

The Winter of Waiting?
At 6pm on Saturday, the James Clearance Rate for $M+ was 45% on the 29 auctions we attended, showing cooler market sentiment on low stock levels. The Weekly Review Bidderman, our demand indicator, was 1.4 bidders per auction, which was a rise on the figure before the long weekend – although it didn’t feel like [...]
April may be quiet in terms of turnover, but not in terms of quality with three $10M+ transactions so far

April may be quiet in terms of turnover, but not in terms of quality with three $10M+ transactions so far

Saturday April 21st: 22 South Road Brighton (Peter Hickey) Bought After $3,255,000 James Auction Report: Thought I would come to see the only $3m auction on offer today – that is if it is actually gets $3m+.  Auctioneer Mark Earle strides out in front of a crowd of around 60 and launches into a synopsis of [...]
The Top End has definitely picked up (in activity – not price) – after Easter new stock is low

The Top End has definitely picked up (in activity – not price) – after Easter new stock is low

Saturday March 31st: Solid finish to the month – partly as a result of vendors lowering their expectations as they feel the market may get worse before it gets better, partly due to some good stock and partly because buyers can’t really see anything of note on the market after Easter. But to keep some perspective [...]
A strong-ish start to the Top End after The Cup – but a lot of stock is now here and more on the way. Getting tougher as the month goes on!

A strong-ish start to the Top End after The Cup – but a lot of stock is now here and more on the way. Getting tougher as the month goes on!

Monday 28th November – 57 Cole Brighton ( Peter Kennett of Hocking Stuart). A family home with some floor plan issues that has been on the market for sometime, has been bought after a few interested parties were gathered together in an Expressions of Interest Campaign and one person popped up over $3,000,000. We rated [...]
It’s Expression of Interest Time @ $3m+ – The Tennis Court Mexican Wave is in.

It’s Expression of Interest Time @ $3m+ – The Tennis Court Mexican Wave is in.

October 29th: Excerpt from October 15th James Marketnews: Want a home with a Tennis Court in Toorak? Got around $6 million dollars? In the last week we visited, assessed and rated: 11 Scotsburn Toorak (Andrew Smith), 10 Montalto Toorak (Mike Gibson) and 25 Scott Glen Iris (Rae Tomlinson). All have tennis courts. The Question: After [...]
Solid demand on very low numbers is pushing prices past conservative expectations

Solid demand on very low numbers is pushing prices past conservative expectations

Week 4 September 24th: Overall market interest is down this week, best evidenced by the fact we had 30% less Marketnews readers on the Monday of  this week than the past two month average (alternatively we may be just getting boring). While some new AFL coaches bobbed up, so have some interesting [...]
We all waited with bated breath … AND

We all waited with bated breath … AND

Yes it was a bit of a dog of a day for the market this weekend, but it was not an absolute shocker.  And really, what else could you have expected! At 6pm on Saturday, the James Clearance Rate for $M+ was 52% on the 25 auctions we attended. We have seen worse. The Weekly Review Bidderman, [...]
So far it’s been a year of low quality stock undermining buyer demand

So far it’s been a year of low quality stock undermining buyer demand

At 6pm on Saturday, the James Clearance Rate for $M+ was 48% on the 25 auctions we attended. The Weekly Review Bidderman, our demand indicator, was 1.3 bidders per auction. This is our last Marketnews summary and auction reporting until Saturday July 30th. We normally take a fortnight break at this time of the year due [...]
Uncertain times and new $3m+ stock not as strong as May last year

Uncertain times and new $3m+ stock not as strong as May last year

Week Ending 30th April: Back from a week or two off, this market now, has a fairly clear run till Christmas, with a only brief breaks for a couple of holiday weekends. Over the next four to six weeks we should see more choice and some reasonable activity (although not expected anywhere near [...]
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 [...]
Very little to get excited about this weekend

Very little to get excited about this weekend

With not much on offer this weekend, only one over $3m ( Steve Abbott – 68 Hopetoun Rd, Toorak) and minimum quality at the lower end, my thoughts turned to family, holidays and the Pies. Winter will be a time of continuing opportunity, but as buyers we will have to work hard to find them. [...]
Market Mojo returns – but is it a One Day Wonder?

Market Mojo returns – but is it a One Day Wonder?

At 6pm on Saturday the James Clearance rate for $M+ was 71% on the 34 auctions we attended. WOW – 71%, a big change from last month. Bidderman, our demand indicator of bidders per auction, was at 1.8. So on our biggest $M+ auction weekend so far this year, when you would expect buyers [...]
It’s embarrassing but I agree with the selling agents today – the “good home” market was stronger than it appeared.

It’s embarrassing but I agree with the selling agents today – the “good home” market was stronger than it appeared.

Key Points: A lot on offer in Stonnington today with 42 auctions monitored over a $m with 22 homes over a million bought. Although there was a lot on offer – it was a mixed bag quality wise. If there is such a thing the good home clearance rate index would have shown a better result than the [...]
The correctly priced good home/period home auction clearance rate would be nearly 100% in Stonnington right now

The correctly priced good home/period home auction clearance rate would be nearly 100% in Stonnington right now

Key Points: Stock is now starting to dry up as Easter interrupts the market and with the vibe dropping since Labour Day we may well see limited stock in the discretionary upper end market coming on Post Easter.  19 Huntingfield Toorak (Justin Long) was a classic example of a limited offering that captured the markets’ attention [...]
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.

Inside James Market News