oc | Friday 6th December

Market News » Toorak


Great buying opportunities in the $3m+ Pre Easter Market, even more so than the 3 week season opener just gone.

Great buying opportunities in the $3m+ Pre Easter Market, even more so than the 3 week season opener just gone.
Week Ending 19th March: Off Markets, Forthcoming Auctions and Expressions of Interest are increasing as market stock levels begin to rise dramatically
Properties Struggling to Move after Passing In

Properties Struggling to Move after Passing In

At 6pm on Saturday, the James Clearance Rate on the 31 auctions we covered was 58%. Bidderman, our demand indicator of average bidders per auction, had a small rise to 1.6 bidders per auction, in part due to four volcanoes (strong auctions) including one 7 bidder auction in 28 Barrington St Kew. These figures indicate that the [...]
At 64% the fickle Stonnington is holding its own at auction – however a number of big ones are not getting sold through other methods of sale

At 64% the fickle Stonnington is holding its own at auction – however a number of big ones are not getting sold through other methods of sale

Key Points: Off Markets, Forthcoming Auctions and Expressions of Interest are increasing as market stock levels begin to rise dramatically. Nobody bid at the 19 Kingston St Malvern East auction (Iain Carmichael) at $4,250,000 but 2 bidders emerged post auction and fought it out afterwards to a price well in excess of the reserve and well in [...]
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 [...]
$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
Nearly everything sold in Malvern and Malvern East, but what happened in South Yarra?

Nearly everything sold in Malvern and Malvern East, but what happened in South Yarra?

Agent Q & A:“Do you feel there is currently a big difference in the results of sales of lower end ($1m) properties as opposed to those of higher end ($2m+) homes? Yes or no, and why?” Brad Fleming, JP Dixon, Toorak:”Across the board the demand for properties under $1 million is and always has been stronger [...]
$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 [...]
Placing a value on a building

Placing a value on a building

Valuing land is difficult enough, but there are even more variables when it comes to getting a consistent opinion of the market value of an actual building. We always counsel long term passive investors to buy purely on land value, or to buy proven populist homes like Victorians and Edwardians as opposed to new homes.  Why? Buildings [...]
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 [...]
Million Dollar Melbourne was not flying this weekend

Million Dollar Melbourne was not flying this weekend

Key Points Ascot Vale, 13 Fisher – Ray White – With views over the Maribyrnong River, this was bought for $2,000,000. Land value $2,000+ per sq metre 8 buys over $1m in Caulfield and Elsternwick this week, including in the heart of the Bagel belt – 31 Aroona with Rochelle Butt of TBM at $2,511,000 Templestowe, 70B Newmans [...]
No real big guns on offer at auction today – lacklustre

No real big guns on offer at auction today – lacklustre

Key Points Fall in Clearance Rate today Stock offering not as good as October 23rd Very little new stock in this week owing to Melbourne Cup in 4 weeks A lot of off market on offer $3m+ homes have come on in big numbers compared to winter Biggest sale 5 Glassford St, Armadale, Justin Long, Marshall White, Under the Hammer $2,350,000 “Good [...]
Get Organised for the next Super Saturday – October 23rd

Get Organised for the next Super Saturday – October 23rd

The big news this week for homebuyers was not Gary Ablett or the GF Replay; it was the major stock inflows that took place on Monday, Tuesday and Wednesday when agents began their marketing campaigns for the next Super Saturday - October 23rd. Check out the size of the Weekly Review this week. While one weekend does not make a summer, we now seem to have finally started the Spring surge. Prior to the Grand Final(s) stock was particularly low and prices were definitely beginning to firm on the back of this.
September sees the re-emergence of Melbourne’s $3m+ Market

September sees the re-emergence of Melbourne’s $3m+ Market

September Executive Summary: Demand: Solid and increasing Reported Boughts: 46 Bidderman: Substantial improvement in bidders per auction at the higher level. Random cross section of bidders. 1/3/2/1/3/1/3/2/2/3/3/3/2/1/0/0 for a month average of 1.875 Supply: New Stock Low Overhang from May however new stock is still light on at end of September and that which comes on at a reasaonble price [...]

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