Transitioning 3.0
crypto, blockchain, immersive Top End Melbourne real estate
by Gina Kantzas and Mal James
THE TRAD MACRO 2022M4
As we complete our final 2022 3-week 100 Auction test 2022M4, we find ourselves in a fifth consecutive falling macro market. And M4 was a mirror image of M3 – started well, and finished poorly. Bidderman was consistently 1.2 all the way through – only the GFC has been lower.
The Bidderman stat shows that nothing will change this side of Santa.
The overall stats below are stark – it’s mostly black and white – the only grey is some individual markets, the only light is fully-reno’d homes, and the only sun is shining in Boroondara – which is via Chinese and Chinese Australian bidding carrying the market.
Bayside is a ghost town – except even the ghosts have gone and Stonnington is as we said last week, missing in inaction.
One upward trend is building values – they have had the greatest rise in “market valuations” since 2009 when FIRB changes brought in a lot of foreign money and foreigners saw far greater value in bricks and mortars than did the locals.
Valuations and valuers are seeing falling land values but they are also seeing rising building costs. Have they enough bravery to say the land is down from say $6000 per sqm to $5000 sqm but the building cost of $1.2m in 2019 is now worth $1.8m to replace? That is what they should be saying but let’s see.
A completed home, with some sexiness, that is quoted ethically and to market, will still rock in this ice-cooler and that is especially so if no Heritage and it’s in Boroondara.
We finished the major markets of 2022 as we started, down in the macro and only up in a few micros. Its demand-driven – there is little. Most traditional macro markets are asleep and the Top End which only a few months ago was still drinking red cordial, is now as a blanket statement, not quite comatose, but they’re doing a concussion test.
All the results and stats are below.
22 OCT
BIDDERMAN 1.2
STOCK MEDIUM
CLEARANCE 76%
12 NOV
BIDDERMAN 1.2
STOCK LOW
CLEARANCE 61%
19 NOV
BIDDERMAN 1.2
STOCK LOW
CLEARANCE 43%
20% @ TOP END
Our world is an incredible place
The world is changing rapidly – a lot of it for the better, some of it for the worse.
Whatever you think, it is changing even though it’s still the same.
In 2023 we have a blockchain – its not that new, for 1620 good ol Eddie Gunter (a surveyor) measured his block with a chain – my real estate dad joke – apologies.
In 2023 the agent’s comment – they are not making any more land – will no longer be true.
2022 is finishing quietly, although our business has had one of our best years ever
- statistically highlighted with a $65m buy sell, 3 over $20m,
- and also, meaningfully by cementing our role as the new type of agent/advocate and how we do business.
BUY SELL – JAMES BUY SELL.
Our near-on 20-year-old patented rating system has seen its first significant modifications in 12 years as part of 3.0 and other changing trends post-Covid.
I’m getting a bit older – Gina younger of course, but we can see it’s a new world – a world that feels more mature (love 3.0 cartoons/avatars but!). Our world has moved into new ways – vast new land holdings are opening; vast old land holdings are closing.
In 2023 you will start to see more obvious changes in how we buy and sell and how we report, how we value (because of what we value), and how we achieve desirable outcomes, for our buy and sell clients. It’s never all blooming roses, no false promises, but you can get what you want if you know what it is and go about it the right way.
For some the Christmas break will be difficult and we genuinely wish it was better for many – this week we got the latest Parachute Fund report from Launch on where our $60,000 has been spent. It was sad in many ways to see all the pain – but with Airbnb, interest rates, building costs and government debt, it feels like the Melbourne homeless dynamic is moving into a more structural phase and away from a potentially fixable one. It is possible – but perhaps we need a mindset change away from government responsibility to individual and community responsibility.
On the flip side is Africa with child surgeries – the new Africa 3.0 offers a myriad of opportunities in blockchain for safety apps, direct donor to the child, better outreach coverage and by many measurements – life expectancy, phone take up and mobile banking it is an incredibly exciting place. Maddie and I are back there for our sixth visit in January 2023.
Africa, like Melbourne, is such a wonderful place and the people are warm and genuine. Sure, there is a bit of the wild west – but so is 3.0 (look at the FTX exchange collapse this month) and so are our more traditional Melbourne property markets – see the M4 Auction results. We have put in over $200,000 this year for child surgeries for the poorest of the poor. Thank you to our referrers.
Over the break, as we transition more into 3.0 and doing business differently, we hope you and your family have a merry Christmas and that you look for as many positives as you can in the new year. They are there – we promise. Take care from all at Marketnews.
James Buy Sell is open for business and Gina always tells me off that my words look like we are closing now for the break. We are not! In fact, for the last decade – Covid included, we have done deals on Christmas Eve.
JAMES BUY SELL 3.0
crypto, blockchain, immersive Top End Melbourne real estate
What’s a Blockchain I would understand – well it’s a primitive and not perfect blockchain (which means its not a blockchain) – but a property title is like a blockchain.
The way of high end Toorak real estate may be a Dao – what does this mean for real estate agencies and sellers.
How do you market your home to a whale hunting her 3rd lambo if she doesn’t google/realestate.com? Not totally sure yet, but……we are thinking about it, as she may be our best buyer.
If a real estate deal goes through as a title NFT how can that work – and what may that mean to stamp duty?
What about crypto – how do I pay and get paid in crypto and should I even consider it when buying or selling a home?
Bayside & Port Phillip Live!
by Gina Kantzas and Mal James
Albert Park Brighton Brighton East Elsternwick Elwood Hampton Middle Park
22 OCT
BIDDERMAN 1.0
CLEARANCE 80%
12 NOV
BIDDERMAN 0.6
CLEARANCE 36%
19 NOV
BIDDERMAN 0.9
CLEARANCE 13%
Brighton, 31 Warleigh Grove
SOI: $2,900,000 – $3,100,000
Sales Agent: Johnny Clarkson – Buxton
Before Auction: $undisc
Bidders: 1
Albert Park, 63 St Vincent Place South
SOI: $6,700,000 – $7,000,000
Sales Agent: Simon Gowling – Jellis Craig
Before Auction: $undisc
Bidders: 1
Hampton, 48 Service Street
SOI: $2,800,000 – $2,950,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 40
Opening Bid: $2,700,000 VB
Passed in: $2,700,000 VB
After Auction: $2,820,000
Bidders: 0
40 or so damp attendees, unfortunately no bids and the property opened and closed on a vendor bid of $2,700,000.
Elwood, 3 Knight Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Stephen Smith – Marshall White
Crowd: 45
Opening Bid: $3,700,000
On the Market: $3,700,000
Under the Hammer: $3,700,000
Bidders: 1
Middle Park, 355 Danks Street
SOI: $2,700,000 – $2,900,000
Sales Agent: Pil Minerth – Jellis Craig
Crowd: 30
Opening Bid: $2,800,000 VB
On the Market: $3,070,000
Under the Hammer: $3,170,000
Bidders: 2
A vendor bid of $2,800,000 was placed at the start of the auction. Two bidders entered a back and fourth biding. Shortly after the property was on the market at $3,070,000 and sold under hammer for $3,170,000.
Brighton, 13 Huntingfield Road
SOI: $4,250,000 – $4,350,000
Sales Agent: Sarah Kobel – Nick Johnstone
Crowd: 50
Opening Bid: $4,300,000
Passed in: $4,300,000
After Auction: $undisc
Bidders: 1
Fifty people enjoyed a short break from the rain and the convenience of the coffee cart while Nick Johnstone extolled the beauty and value of the home at 13 Huntington road, Brighton. However, the home opened and closed with one bid of $4,300,000.
Albert Park, 61 Dundas Place
SOI: $3,400,000 – $3,600,000
Sales Agent: Oliver Bruce – Marshall White
Crowd: 30
Opening Bid: $3,550,000 VB
Passed in: $3,550,000 VB
Bidders: 0
A crowd sporadically gathered around the property. An opening bid of $3,550,000 was placed by the vendor. The property was passed in with the same vendor bid.
Hampton, 16 Sargood Street
SOI: $2,950,000 – $3,200,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 30
Opening Bid: $2,950,000 VB
Passed in: $2,950,000 VB
After Auction: $3,045,000
Bidders: 0
All quiet at 16 Sargood Street Hampton today as Steve Tickell searched for a buyer among the assembled. However the home was opened and closed at $2,950,000 vendor bid. Sold after $3,045,000
Black Rock, 34 First Street
SOI: $3,100,000 – $3,410,000
Sales Agent: Nick Sinclair – Hodges
Crowd: 20
Opening Bid: $3,100,000
Passed in: $3,250,000
After Auction: $undisc
Bidders: 1
Elsternwick, 2 Regent Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Bill Stavrakis – Biggin & Scott
Crowd: 35
Opening Bid: $2,900000
Passed in: $3,170,000
After Auction: $undisc
Bidders: 2
Wet day timetable auctions today but with a small break in the rain, the crowd gathered in the backyard. 2 bidders went back and forth, but the property passed in for $3,170,000. Sold after.
Albert Park, 62 St Vincent Street
SOI: $2,400,000 – $2,600,000
Sales Agent: Robert Eierweis – O’Brien Real Estate
Crowd: 40
Opening Bid: $2,300,000 VB
On the Market: $2,710,000
Under the Hammer: $2,720,000
Bidders: 2
An initial vendor bid of $2,300,000 was placed at the property of 62 St Vincent Street Albert Park. Two bidders entered. The property sold under the hammer to bidder 1 at $2,720,000.
Middle Park, 88 Armstrong Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Oliver Bruce – Marshall White
Crowd: 40
Opening Bid: $3,100,000 VB
Passed in: $3,315,000
After Auction: $undisc
Bidders: 2
The auctioneer placed a starting vendor bid of $3,100,000. Shortly after two bidders entered. The property was passed in at $3,315,000.
Brighton, 94 Cole Street Brighton
SOI: $3,500,000 – $3,795,000
Sales Agent: Campbell Kilsby – Greg Hocking
Crowd: 60
Opening Bid: $3,500,000 VB
Passed in: $3,500,000 VB
Bidders: 0
Finally a little respite from the rain and about 60 people gather on Cole street to see the auction of number 94. Unfortunately, there isn’t much to see as the home is opened and closed on a vendor bid of $3,500,000.
Brighton East, 199 Were Street
SOI: $4,700,000 – $4,900,000
Sales Agent: Kaine Lanyon – Marshall White
Crowd: 150
Opening Bid: $4,700,000 VB
Passed in: $4,700,000 VB
Bidders: 0
The home opens and closes on a vendor bid of $4,700,000.
Middle Park, 271 Richardson Street
SOI: $2,500,000 – $2,600,000
Sales Agent: Sam Hobbs – Jellis Craig
Crowd: 25
Opening Bid: $2,500,000 VB
Passed in: $2,620,000
After Auction: $undisc
Bidders: 2
2 bidders went back and forth within the range, but it wasn’t enough to put the property on the market.
Brighton East, 2 Hope Street
SOI: $2,400,000 – $2,600,000
Sales Agent: Simone Howell – Marshall White
Before Auction: $undisc
Bidders: 1
Brighton East, 72 Canberra Grove
SOI: $3,400,000 – $3,600,000
Sales Agent: Campbell Butterss
Before Auction: $undisc
Bidders: 1
Ripponlea – Withdrawn/Change of Method
Elsternwick – Withdrawn/Change of Method
Brighton – Withdrawn/Change of Method
Brighton East, 31 Lucas Street
SOI: $2,950,000 – $3,200,000
Sales Agent: Angus Graham – Hodges
Crowd: 100
Opening Bid: $3,000,000 VB
On the Market: $3,220,00
Under the hammer: $3,299,000
Bidders: 3
Bidding begins with an opening vendor bid of $3,00,000 with Angus calling for participation and two groups step forward tentatively to participate. The pauses are long, and the increments depend in size until a third bidder enters the race and ups the pace with the first bidder. Fast paced toe to toe competition ensues until the home is knocked down to latecomer bidder 3 at $2,299,000
South Melbourne, 29-31 Cobden Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Cheyne Fox – WHITEFOX
Crowd: 33
Opening Bid: $2,000,000 VB
Passed In: $2,010,000
After Auction: $undisc
Bidders: 1
After an opening vendor bid of $2,000,000, a subdued crowd gathered on a grey Melbourne morning to produce only a single bid. The property was subsequently passed in with further negotiations to follow – sold after.
St Kilda West, 8 Longmore Street
SOI: $2,300,000 – $2,500,000
Sales Agent: Michael Szulc – Cayzer
Crowd: 26
Opening Bid: $2,300,000 VB
Passed In: $2,300,000 VB
Bidders: 0
A small crowd of mostly locals and one very excited dog gathered to watch this property pass in without a single bid being placed.
Hampton, 26 Gordon Street
SOI: $3,500,000 – $3,700,000
Sales Agent: Stefan Whiting – Buxton
Crowd: 50
Opening Bid: $3,500,000 VB
Passed In: $3,500,000 VB
Bidders: 0
Halli Moore keeps it brief at the auction today at 26 Gordon street, Hampton, as, in front of 50 people, he opens and closes the auction with a $3,500,000 vendor bid.
Port Melbourne, 13 Beacon Vista
SOI: $2,800,000 – $3,000,000
Sales Agent: Ben Hughes – The Agency
Crowd: 50
Opening Bid: $2,800,000 VB
Passed In: $2,800,000 VB
Bidders: 0
The auctioneer started the auction off with a vendor bid of $2,800,000. The auction was shortly passed in on the same vendor bid.
Black Rock, 43 Seaview Crescent
SOI: $2,400,000 – $2,500,000
Sales Agent: Richard Slade – Buxton
Crowd: 70
Opening Bid: $2,350,000 VB
Passed In: $2,400,000 VB
After Auction: $undisc
Bidders: 0
Mark Earle opens with a vendor bid of $2,350,000 and rises it to $2,400,000 to try and entice some participation, but none is forthcoming and the home is passed in. Sold after.
Port Melbourne, 219 Esplanade West
SOI: $2,000,000 – $2,200,000
Sales Agent: Simon Gowling – Jellis Craig
Crowd: 35
Opening Bid: $2,000,000 VB
Passed In: $2,100,000 VB
Bidders: 1
With no initial bids, the auctioneer placed an opening vendor bid of $2,000,000. A bid was placed shortly after of $2,010,000. Auctioneer placed a second vendor bid of $2,100,000. The property was passed in at this price.
Brighton, 662 Hampton Street
SOI: $2,600,000 – $2,800,000
Sales Agent: Barb Gregory – Marshall White
Crowd: 30
Opening Bid: $2,600,000 VB
On the Market: $2,750,000
Under the Hammer: $2,855,000
Bidders: 3
A small crowd threw up surprises today as three bidders battled it out for the home at 662 Hampton street, Brighton East. Stephen Smith at Marshall White adjudicating as bidder one lit the fuse at $2,700,000 and two further bidders joined in to see the home sold under the hammer at $2,855,000.
Brighton, 15 Peacock Street
SOI: $2,900,000 – $3,190,000
Sales Agent: Scott Xue – Marshall White
Crowd: 30
Opening Bid: $2,650,000 VB
Passed In: $2,650,000 VB
Bidders: 0
Stephen Smith conducted the auction in front of a small group at 15 Peacock street, East Brighton. He opened and closed the bidding without any audience participation at $2,650,000
Brighton, 43 Male Street
SOI: $2,600,000 – $2,700,000
Sales Agent: Jim Kalogerakis – Hodges
Crowd: 26
Opening Bid: $2,500,000 VB
Passed In: $2,500,000 VB
Bidders: 0
A fast paced auction as the Auctioneer Julian Augustini, began by explaining the history of the home. With no bidders the house was passed in at $2,500,000.
Hampton, 19 Bridge Street
SOI: $2,920,000 – $3,020,000
Sales Agent: Stephen Wigley – Hodges
Crowd: 30
Opening Bid: $2,700,000
Passed In: $2,950,000 VB
Bidders: 1
The auction wrapped up quickly today under threatening skies with a genuine bid of $2,700,000 but despite Stephen Wrigley urging participation with additional vendor bids the home was passed in on his vendor bid of $2,950,000
St Kilda, 24 Marine Parade
SOI: $4,600,000 – $5,000,000
Sales Agent: Julian Cannata – Belle Property
Crowd: 10
Opening Bid: $4,500,000 VB
Passed In: $4,750,000 VB
Bidders: 0
No sunny St Kilda auction today. The property passed in after two vendor bids.
Albert Park, 69 Reed Street
SOI: $2,375,000 – $2,610,000
Sales Agent: Constantine – George Page
Crowd: 15
Opening Bid: $2,375,000 VB
Passed In: $2,375,000 VB
Bidders: 0
Out of the weather the crowd gathered inside. A vendor bid was made by the auctioneer and the property passed in when no bids followed.
Brighton, 40 Head Street
SOI: $6,000,000 – $6,600,000
Sales Agent: Stephen Smith – Marshall White
Crowd: 10
Opening Bid: $5,000,000 VB
Passed In: $5,350,000
Bidders: 2
Brighton, 78 Glencairn Avenue
SOI: $3,700,000 – $3,900,000
Sales Agent: Gary Yue – Buxton
Crowd: 41
Opening Bid: $3,600,000 VB
Passed In: $3,650,000
Bidders: 1
A large crowd consisting of families gathered as it started to rain. Enthusiastic auctioneer David Hart called attention to the excellent location and modern design of the home. Starting with a vendor bid and one bidder, the home was passed in at $3,650,000.
Boroondara Live!
by Gina Kantzas and Mal James
Camberwell Canterbury Glen Iris Hawthorn Hawthorn East Kew
22 OCT
BIDDERMAN 1.4
CLEARANCE 67%
12 NOV
BIDDERMAN 1.7
CLEARANCE 79%
19 NOV
BIDDERMAN 1.5
CLEARANCE 70%
Hawthorn, 11a Elmie Street
SOI: $5,500,000
Sales Agent: Stu Evans – Marshall White
Before Auction: $undisc
Bidders: 1
Kew, 9 Adeney Avenue Kew
SOI: $3,650,000 – $3,950,000
Sales Agent: Chris Barrett – Marshall White
Before Auction: $undisc
Bidders: 1
Canterbury, 1 Alexandra Avenue
SOI: $3,100,000 – $3,400,000
Sales Agent: Isabella Lu – Jellis Craig
Before Auction: $undisc
Bidders: 1
Glen Iris, 1 Renwick Street
SOI: $2,750,000 – $2,950,000
Sales Agent: Ash Howarth – Marshall White
Before Auction: $undisc
Bidders: 1
Camberwell, 4 Stornoway Road
SOI: $2,800,000 – $2,980,000
Sales Agent: Mark Pezzin – Jellis Craig
Crowd: 30
Opening Bid: $2,800,000 VB
Passed in: $2,850,000
After Auction: $undisc
Bidders: 1
The auctioneer opened with a vendor bid of $2,800,000. Soon after, bidder one placed a bid of $2,850,000. Following a halftime break and no further bids the property was passed in.
Kew, 100 Pakington Street
SOI: $2,750,000 – $3,000,000
Sales Agent: Nick O’Halloran – Jellis Craig
Crowd: 70
Opening Bid: $2,750,000
On the Market: $3,100,000
Under the Hammer: $3,171,000
Bidders: 4
Two bidders kicked things off straight away to a frenzied bidding war, then a third and fourth entered the fray, leading to an eventual result of $3,171,000.
Hawthorn, 64 Hawthorn Grove
SOI: $4,350,000 – $4,750,000
Sales Agent: James Tostevin – Marshall White
Crowd: 55
Opening Bid: $4,500,000 VB
Passed in: $4,525,000
After Auction: $undisc
Bidders: 1
‘Ladies and gentlemen … you will be pleased to know that the pool stays’, quips James Tostevin to the amusement of those gathered. One bidder pipes up at $4,525,000 off the back of a vendor bid. Sold after.
Canterbury, 41 Victoria Avenue
SOI: $7,500,000 – $8,200,000
Sales Agent: Geordie Dixon – Jellis Craig
Crowd: 70
Opening Bid: $7,500,000
On the Market: $8,200,000
Under the Hammer: $8,400,000
Bidders: 4
Opening bid was $7,500,000 but 3 bidders very rapidly took the price to $8,200,000 where it was declared on the market, before the hammer fell at $8,400,000.
Kew, 39 Miller Grove
SOI: $3,000,000 – $3,300,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 30
Opening Bid: $3,000,000
On the Market: $3,500,000
Under the Hammer: $3,770,000
Bidders: 2
Both bidders, in this auction, very quickly took the price to from an opening bid of $3,000,000 to a result of $3,770,000.
Canterbury, 8 Maling Road
SOI: $4,000,000 – $4,400,000
Sales Agent: Mike Beardsley – Jellis Craig
Crowd: 100
Opening Bid: $4,000,000
On the Market: $4,650,000
Under the Hammer: $4,930,000
Bidders: 2
A two-horse race, however, both bidders duked it out until it was on the market at $4,650,000; more frenzied bidding activity caused a sale of $4,930,000.
Hawthorn, 3 Xavier Avenue
SOI: $3,000,000 – $3,300,000
Sales Agent: Annabelle Feng – Rt Edgar
Crowd: $3,000,000 – $3,300,000
Opening Bid: $3,000,000 VB
Passed in: $3,325,000
Bidders: 2
Two bidders dip a toe in after a vendor opening at $3,000,000. A few bids stagger out until a further vendor bid at $3,300,000. Bidder 1 lifts it $25,000 and here it pauses for post-auction negotiations.
Kew, 26 Wimba Avenue
SOI: $3,600,000 – $3,900,000
Sales Agent: Scott Patterson – Kay & Burton
Crowd: 15
Opening Bid: $3,750,000 VB
Passed in: $3,750,000 VB
Bidders: 0
The auction commenced with a vendor bid of $3,750,000. Following a halftime break and lack of crowd participation the auction was formally passed in.
Kew, 84 Sackville Street
SOI: $4,500,000 – $4,800,000
Sales Agent: Sophie Su – Kay & Burton
Crowd: 80
Opening Bid: $4,600,000 VB
Passed in: $4,700,000 VB
Bidders: 0
The auction started with a vendor bid of $4,600,000. After a half time break a further vendor bid of $4,7000,000 the property was formally passed in.
Hawthorn, 12 Dean Avenue
SOI: $6,250,000 – $6,550,000
Sales Agent: Andrew Gibbons – Marshall White
Crowd: 52
Opening Bid: $6,250,000 VB
Passed in: $6,300,000
Bidders: 1
A crowd comprised of numerous neighbours watch on as an opening vendor bid of $6,250,000 is raised $50,000 by a bidder. Passed in for negotiations soon after.
Camberwell, 12 Pine Avenue
SOI: $3,600,000 – $3,950,000
Sales Agent: Charlie Tostevin – Marshall White
Crowd: 30
Opening Bid: $3,700,000 VB
Passed in: $3,700,000 VB
Bidders: 0
After ample time for buyers to make their presence felt the property passes on a sole vendor bid.
Camberwell, 23 Maple Crescent
SOI: $2,800,000 – $3,000,000
Sales Agent: Lidiya Davoli – Shelter
Before Auction: $undisc
Bidders: 1
Glen Iris, 50 Iris Road
SOI: $3,200,000 – $3,520,000
Sales Agent: Jason Brinkworth – Marshall White
Before Auction: $undisc
Bidders: 1
Glen Iris, 20 Atkins Avenue
SOI: $2,500,000 – $2,750,000
Sales Agent: James Chi – J&D Real Estate
Crowd: 30
Opening Bid: $2,500,000
On the Market: $2,735,000
Under the hammer: $2,735,000
Bidders: 2
The auction kicked off with an opening vendor bid of $2,500,000. Bidder one & two battled it out in $50,000 rises. Following a brief halftime break, the property was sold to bidder two at $2,735,000.
Hawthorn, 11 Fordholm Road
SOI: $2,700,000 – $2,900,000
Sales Agent: Karen Chung – Woodards
Crowd: 30
Opening Bid: $2,700,000 VB
On the Market: $2,900,000
Under the hammer: $3,380,000
Bidders: 3
Opening with a vendor bid of $2,700,000; being declared on the market at $2,900,000 when three bidders rapidly duked it out for this Scotch Hill abode, resulting in a sale price of $3,380,000.
Balwyn, 51a Rochester Road
SOI: $2,400,000 – $2,600,000
Sales Agent: Mark Sproule
Crowd: 30
Opening Bid: $2,400,000
Passed In: $2,655,000
After Auction: $2,700,000
Bidders: 2
Bidder 1 opened with a $2,400,000 offer, a vendor bid followed, then bidder 2 entered, sparking swift bidding activity; however the property was passed in – sold soon after
Camberwell, 21a King Street
SOI: $2,200,000 – $2,350,000
Sales Agent: Duane Wolowiec – Marshall White
Crowd: 50
Opening Bid: $2,500,000
On the Market: $2,650,000
Under the hammer: $2,700,000
Bidders: 2
Straight away came an initial bid of $2,500,000, then a second bidder spoke up, taking the property to $2,650,000, at which point it was on the market, with auctioneer Doug McLauchlan bringing down the hammer at $2,700,000.
Camberwell, 132 Wattle Valley Road
SOI: $2,600,000 – $2,850,000
Sales Agent: James Tostevin – Marshall White
Crowd: 32
Opening Bid: $2,650,000 VB
Passed In: $2,730,000
After Auction: $undisc
Bidders: 2
Two bidders: One went the torture method by being exceedingly slow. The other went for the immediate replies, albeit in small increments. Sold after auction
Hawthorn East, 28 Havelock Road
SOI: $2,350,000 – $2,585,000
Sales Agent: Robert Clement – Woodards
Crowd: 46
Opening Bid: $2,250,000 VB
On the Market: $2,400,000
Under the hammer: $2,430,000
Bidders: 2
Two battle out in a slow-paced auction until a vendor referral confirms the property on the market at $2,400,000. Sold under the hammer soon after.
Hawthorn East, 4 Hastings Road
SOI: $2,800,000 – $3,050,000
Sales Agent: Stuart Evans – Marshall White
Crowd: 40
Opening Bid: $2,750,000 VB
Passed In: $2,900,000
After Auction: $2,950,000
Bidders: 2
After the initial vendor bid, nobody put their hand up until after a vendor consultation. Subsequent raises from two bidders brought the price up to $2,900,000, at which point the property was passed in.
Glen Iris, 11 Kerferd Road
SOI: $3,200,000 – $3,500,000
Sales Agent: Jesse Matthews – Marshall White
Crowd: 60
Opening Bid: $3,200,000 VB
Passed In: $3,650,000
After Auction: $3,665,000
Bidders: 4
A slew of confident bidders quickly brought the price up to $3,650,000. After a vendor referral where it was confirmed the property was not yet on the market, it was passed in.
Surrey Hills, 7 Graham Street
SOI: $2,300,000 – $2,500,000
Sales Agent: Paul Richards – Bekdon Richards
Crowd: 40
Opening Bid: $2,300,000
Passed In: $2,520,000
After Auction: $undisc
Bidders: 3
Three parties traded rapid-fire bids until a vendor referral at $2,520,000. With no further bid, the property was passed in – Sold after.
Camberwell, 12a Christowel Street
SOI: $3,000,000 -$3,300,000
Sales Agent: Désirée Wakim – Marshall White
Crowd: 40
Opening Bid: $3,100,000 VB
Passed In: $3,100,000 VB
Bidders: 0
The auction started with a vendor bid of $3,100,000. Following a half time break and no further bids the property was formally passed in.
Hawthorn East, 29 Fairmount Road
SOI: $3,580,000 – $3,780,000
Sales Agent: Kellie Liu
Crowd: 34
Opening Bid: $3,300,000 VB
Passed In: $3,300,000 VB
Bidders: 0
A quick open and shut auction with one vendor bid placed.
Surrey Hills, 20 James Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Désirée Wakim – Marshall White
Crowd: 30
Opening Bid: $2,000,000 VB
Passed In: $2,000,000 VB
Bidders: 0
A single vendor bid of $2,000,000 was the only number called out at this quiet auction.
Hawthorn, 49 Illawarra Road
SOI: $3,000,000 – $3,300,000
Sales Agent: Nick Fletcher – Fletchers
Before Auction: $undisc
Bidders: 1
Ashburton, 19 Johnston Street
SOI: $2,850,000 – $3,100,000
Sales Agent: Nick Walker – RT Edgar
Before Auction: $undisc
Bidders: 1
Canterbury, 8 Maysia Street
SOI: $2,150,000 – $2,350,000
Sales Agent: Perry Zhou – Buxton
Before Auction: $undisc
Bidders: 1
Camberwell – withdrawn/change method
Deepdene, 17 Bennett Street
SOI: $2,300,000 – $2,500,000
Sales Agent: David Taylor
Crowd: 70
Opening Bid: $2,300,000 VB
On the Market: $2,540,000
Under the Hammer: $2,821,500
Bidders: 3
Three bidders competed for this property, after kicking off with a vendor bid of $2,300,000, with an eventual result of $2,821,500.
Camberwell, 22 Bellett Street
SOI: $2,500,000 – $2,600,000
Sales Agent: Duane Wolowiec – Marshall White
Crowd: 50
Opening Bid: $2,450,000
Passed In: $2,550,000
Bidders: 2
A determined first bidder opened the auction and maintained the high bid until the competition bowed out. The property was passed in.
Kew, 2 Frank Grove
SOI: $2,700,000 – $2,900,000
Sales Agent: Rebecca Scanlon – Jellis Craig
Crowd: 30
Opening Bid: $2,650,000
Passed In: $2,725,000
After Auction: $undisc
Bidders: 2
Auctioneer Campbell Ward opened with a $2,650,000 vendor bid, only to be met with silence. Eventually two bidders’ offers were forthcoming, however, not enough to meet the reserve, causing the property to be passed in.
Glen Iris, 41 Ranfurlie Crescent
SOI: $2,900,000 – $3,190,000
Sales Agent: Lachie Fraser-Smith – Jellis Craig
Crowd: 53
Opening Bid: $2,700,000
On the Market: $3,090,000
Under the Hammer: $3,120,000
Bidders: 3
Over 50 people gathered in the beautiful garden of this Glen Iris property to see 3 bidders battle it out to secure this property on a large block.
Kew, 85 Alfred Street
SOI: $3,100,000 – $3,400,000
Sales Agent:
Crowd: 120
Opening Bid: $3,200,000
On the Market: $3,550,000
Under the Hammer: $3,950,000
Bidders: 4
Auctioneer James Tostevin took an opening bid of $3,200,000 before three more bidders made successive offers, until an interval at $3,470,000. A prolonged second half saw the property on the market at $3,550,000, eventually reaching $3,950,000, at which point the hammer fell.
Deepdene, 13 Hardwicke Street
SOI: $2,700,000 – $2,970,000
Sales Agent: William Chen – Buxton
Crowd: 30
Opening Bid: $2,700,000 VB
Passed In: $2,760,000
After Auction: $undisc
Bidders: 1
A quiet indoor auction. The last-minute lone bidder went unopposed in securing the first right to negotiate.
Canterbury, 8 Chaucer Crescent
SOI: $3,250,000 – $3,550,000
Sales Agent: Anton Zhouk – Anton Zhouk
Crowd: 30
Opening Bid: $3,250,000 VB
Passed In: $3,250,000 VB
Bidders: 0
An opening vendor bid and nothing further prompted a vendor pass at $3,350,000.
Stonnington Live!
by Gina Kantzas and Mal James
Armadale Malvern Malvern East Prahran Richmond South Yarra Toorak
22 OCT
BIDDERMAN 1.1
CLEARANCE 82%
12 NOV
BIDDERMAN 1.2
CLEARANCE 67%
19 NOV
BIDDERMAN 1.1
CLEARANCE 40%
Malvern East, 71 Beaver Street
SOI: $2,500,000 – $2,700,000
Sales Agent: Tom Staughton – Kay & Burton
Before Auction: $undisc
Bidders: 1
Malvern, 17 Hunter Street
SOI: $2,500,000 – $2,600,000
Sales Agent: Sarah Case – RT Edgar
Crowd: 35
Opening Bid: $2,600,000
Passed in: $2,620,000
After Auction: $2,750,000
Bidders: 1
Auctioneer Mark Wridgway started the bidding placing a vendor bid of $2,600,000 This was met by a bid of $20,000. The property was passed in to the sole bidder at $2,620,000. Sold after.
Malvern, 26 Euston Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Carla Fetter – Jellis Craig
Crowd: 30
Opening Bid: $3,000,000
Passed in: $3,085,000
After Auction: $undisc
Bidders: 2
Audience opening bid with 1 other bidder, however property didn’t reach the market price and was passed in.
Malvern, 2 Jordan Street
SOI: $2,800,000 – $3,000,000
Sales Agent: Sarah Sharp – Jellis Craig
Crowd: 35
Opening Bid: $2,750,000
Passed in: $2,750,000
After Auction: $2,890,000
Bidders: 1
The auctioneer started by highlighting the superb location of the home and its light-filled features. One opening bid by the audience, with no other bids the property was passed in at $2,750,000.
Malvern East, 11 Nott Street
SOI: $3,200,000 – $3,500,000
Sales Agent: John Morrisby
Crowd: 35
Opening Bid: $3,250,000 VB
Passed in: $3,275,000
After Auction: $undisc
Bidders: 1
With a hand raised as soon as Auctioneer John Morrisby asked for bids, I anticipated a fast paced auction. It was not to be. The property was soon passed in to this sole bidder and sold soon after.
Malvern East, 28 Kerferd Street
SOI: $3,300,000 – $3,600,000
Sales Agent: Matthew Morley – Gary Peer
Crowd: 50
Opening Bid: $3,300,000 VB
On the Market: $3,610,000
Under the Hammer: $3,620,000
Bidders: 2
With a slow start to the auction, after the break 2 bidders entered. A thrilling battle against the 2 bidders with the property selling under the hammer at $3,620,000.
Malvern East, 6 Nyora Street
SOI: $5,000,000 – $5,500,000
Sales Agent: John Manton – Marshall White
Crowd: 60
Opening Bid: $5,000,000 VB
Passed in: $5,350,000
After Auction: $undisc
Bidders: 2
Auctioneer Daniel Wheeler opened the bidding with a vendor bid of $5,000,000. A first bidder placed a $50,000 bid and was swiftly joined by a second bidder. The property was passed in for $5,350,000 to the first bidder. Sold after.
Prahran, 23 Larnook Street
SOI: $2,200,000 – $2,420,000
Sales Agent: Michael Tyan – Biggin & Scott
Crowd: 35
Opening Bid: $2,200,000
On the Market: $2,725,000
Under the Hammer: $2,750,000
Bidders: 2
As Auctioneer Tom McCarthy was about to pass the property in, two bidders sprang to action. The property was soon on the market and sold with a round of applause to the second bidder.
Malvern East, 12 Serrell Street
SOI: $2,400,000 – $2,600,000
Sales Agent: Ray White – Jie Zhang
Crowd: 40
Opening Bid: $2,500,000 VB
Passed in: $2,500,000 VB
After Auction: $undisc
Bidders: 0
With an opening vendor bid of $2,500,000, there were no bidders and the property was passed in.
Malvern, 1 Ewart Street
SOI: $2,000,000 – $2,200,000
Sales Agent: Fiona Ansell-Jones – Marshall White
Crowd: 60
Opening Bid: $2,000,000 VB
Passed in: $2,000,000 VB
Bidders: 2
A crowd of 40 gathered inside 1 Ewart Street Malvern. Auctioneer Andrew Hayne opened and closed the bidding with a sole vendor bid The property was passed in on the vendor bid of $2,000 000.
South Yarra, 7 Motherwell Street
SOI: $3,500,000 – $3,800,000
Sales Agent: Nathan Waterson – Jellis Craig
Crowd: 30
Opening Bid: $3,500,000 VB
Passed in: $3,500,000 VB
Bidders: 0
Nathan Waterson both opened and closed the bidding placing a sole vendor bid of $3,500,000.
Glen Iris (Stonnington), 13 Maitland Street
SOI: $3,250,000 – $3,500,000
Sales Agent: Carla Fetter – Jellis Craig
Before Auction: $undisc
Bidders: 1
Malvern, 1 Moorakyne Avenue
SOI: $2,300,000 – $2,500,000
Sales Agent: Fraser Cahill – Marshall White
Crowd: 70
Opening Bid: $2,300,000
On the Market: $2,550,000
Under the hammer: $2,705,000
Bidders: 3
Bids began as soon as they were called for. 3 parties tried their luck with Bidder 1 being the open and the closer.
Malvern East, 59 Ardrie Road
SOI: $2,500,000 – $2,750,000
Sales Agent: John Manton – Marshall White
Crowd: 40
Opening Bid: $2,500,000 VB
Passed In: $2,500,000 VB
Bidders: 0
Families lined the leafy street and auctioneer John Manton opened the bidding, however no hands were raised and the property passed in.
Malvern, 19 Johnstone Street
SOI: $2,600,000 – $2,800,000
Sales Agent: Walter Summons – Belle
Crowd: 25
Opening Bid: $2,700,000 VB
Passed In: $2,700,000 VB
Bidders: 0
A crowd gathered along the fences opposite the home, as auctioneer Andrew James called for spirited bidding. After a vendor bid and a half time break, the property passed in.
Malvern, 1305 High Street
SOI: $2,200,000 – $2,400,000
Sales Agent: Jesse Jones – WHITEFOX
Crowd: 35
Opening Bid: $2,200,000
Passed In: $2,350,000
After Auction: $undisc
Bidders: 2
Gathered in the sunlight backyard, Auctioneer Marty Fox stood back in the living area of the home and called for bidding from the crowd. Some back and forth between two bidders wasn’t enough to put it on the market and the property passed in – sold after.
Prahran, 44 Packington Street
SOI: $2,400,000 – $2,550,000
Sales Agent: Daniel Joyce – Jellis Craig
Crowd: 60
Opening Bid: $2,400,000 VB
Passed In: $2,460,000
After Auction: $undisc
Bidders: 1
The auction kicked off with a vendor bid of $2,400,000. Bidder one joined shortly after at $2,410,000. After a halftime break and a further vendor bid of $2,450,000, the property was passed in – sold soon after
Malvern, 98 Stanhope Street
SOI: $2,800,000 – $3,000,000
Sales Agent: John Morrisby – Jellis Craig
Before Auction: $undisc
Bidders: 1
Malvern, 33 Evansdale Road
SOI: $2,600,000 – $2,800,000
Sales Agent: Nathan Waterson – Jellis Craig
Before Auction: $undisc
Bidders: 1
Malvern, 93 Claremont Avenue
SOI: $2,500,000 – $2,700,000
Sales Agent: Oliver Booth – Kay & Burton
Crowd: 40
Opening Bid: $2,600,000 VB
Passed In: $2,600,000 VB
Bidders: 0
With no bids from the crowd, the property passed in to the single vendor bid.
Armadale, 90 Sutherland Road
SOI: $2,000,000 – $2,200,000
Sales Agent: Carla Fetter – Jellis Craig
Crowd: 41
Opening Bid: $2,000,000
On the Market: $2,210,000
Under the Hammer: $2,315,000
Bidders: 4
A strong crowd of over 40 gathered to see 4 bidders battle it out for this single fronted home in Armadale. A strong $2M opening bid was quickly surpassed by several more bids to see the property sold for $2.315M.
Malvern East, 29 Karma Avenue
SOI: $2,700,000 – $2,800,000
Sales Agent: Kevin O’Brien – Jellis Craig
Crowd: 60
Opening Bid: $2,800,000 VB
Passed In: $2,900,000 VB
Bidders: 0
The auction started with a vendor bid of $2,800,000. Following a half time break, the auctioneer placed one last vendor bid of $2,900,000 before formally passing the property in.
Armadale, 40 Willis Street
SOI: $2,100,000 – $2,300,000
Sales Agent: Grant Samuel – Kay & Burton
Crowd: 16
Opening Bid: $2,200,000 VB
Passed In: $2,200,000 VB
Bidders: 0
As the rain came down the bidders dried up! This property failed to elicit a single bid from a small crowd after an opening vendor bid.
Malvern, 3 Northbrook Ave
SOI: $3,500,000 – $3,850,000
Sales Agent: Walter Summons – Belle Property
Crowd: 22
Opening Bid: $3,500,000 VB
Passed In: $3,500,000 VB
Bidders: 0
A quiet crowd in Northbrook Avenue this afternoon. The property passed in after one vendor bid.
Malvern East, 23 MacGregor Street
SOI: $3,000,000 – $3,300,000
Sales Agent: Daniel Wheeler – Marshall White
Crowd: 60
Opening Bid: $3,000,000 VB
Passed In: $3,000,000 VB
Bidders: 0
The auction opened with a vendor bid of $3,000,000. After a halftime break and no further bids, the property was formally passed in.
Malvern East, 33 Albert Street
SOI: $2,800,000 – $3,000,000
Sales Agent: Steve Burke – Belle Property
Crowd: 50
Opening Bid: $2,800,000
Passed In: $2,850,000
Bidders: 2
A good sized crowd huddled under umbrellas while two bidders inched toward the reserve price. After a quick break, and no further bids, the property was passed into Bidder 1.
Kew - Underground Basketball Court
Is this America I thought as I wandered from the grounds of tennis court, swimming pools, vast spaces to ………. down the lift, past the enormous underground car park and cinema, to wait for it………..and underground basketball court………..yes full height……….yes I have never, ever seen one before, nor a home like it.
Its AAA, it may well break all records (SOI $20m to $22m), yes even in this market and yes there are some recent big ones in Kew, and it will exchange hands, quietly and with possibly less than a handful of people through, possibly before Christmas, but probably next year says James Tostevin and Gina Kantzas.
Phenomenal, the grandest but most practical Boroondara family home with not a cent to spend, modern interiors to die for, combined with the character of a long history – never to be repeated as is – a truly true truism for this incredible home.
James Buy Sell & Marshall White
Multi-Agent - Off-Market - Soon
Kew
James Tostevin 0417003333
Gina Kantzas 0457835255
EOI Close Tue 29 Nov
Brighton
Multi-List Off-Market
Elsternwick
St Georges Precinct
462 sqm
Grant 0403 132 095
Michael 0425 790 233
We sell a lot for our buying clients
Canterbury $4m
Armadale $8m
Glen Iris $3m
Bespoke strategies
Brighton $3m
Toorak $9m
Elwood $3m
Everyday we compete at the Top End.
Brighton $6m
Toorak $22m
Hawthorn East $6m
Quietly, on & off Market
South Yarra $5m
Mentone $5m
Brighton $6m
Client focused first transactionally driven second
Camberwell $7m
Hawthorn $13m
Middle Park $4m
We cost no more.
Thank you
Thank you to James Connell and Paula Matlock and all at Marshall White Foundation for their matching support of Launch Housing.
Thank you to all our referrers who allow us to earn money to send to Africa by not asking for anything in return – in particular, Tyler Hunter from medical group DPM.
Thank you to the brilliant James Buy Sell team of Gina (5 stars), Sim (moved into her first home this week and also 5 star), Phoebe, Kathy and Maddie and all our reporters Catherine, Elise, Jo, Kieran, Rowena, Randall, and Nat.
Thank you to the many contractors we use for independent inspections, advice on mortgages, legals, accounting, and more and to Nathan who looks after our building.
Finally, its thank you to the many agents we work with buying and/or selling (you are the best of the best more times than not) and thank you to our clients – buying and selling this year and years gone by and cheekily those who will engage us next year.
Open till Christmas Eve at James Buy Sell. Back January.
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