OMG! Boroondara Councillors
Are you serious councillors, or is this a misprint in The Age (Adam Carey Nov 14)
“Boroondara (all 11 councillors) said it opposed the government’s decision to give residents the freedom to build secondary homes – or granny flats – on their properties without a planning permit, raising concerns about neighbourhood character, amenity and car parking.”
Councillors, have you got no children, no humanity, no economically challenged workers? Do you ever leave your castles and see what is happening in the real world to families, to renters, to those we all rely on in the community who don’t earn 500K a year.
Am I a bit over the top? No! Granny flats (for non grannies) are a real solution and will only strengthen your community, not weaken it. Diversity, young people, older people staying in the community longer. Plus you nincompoops look at regional Victoria where they have no cheaper accommodation for workers, those cities are dying. Go to Port Fairy and try and get a good meal….no staff!!
Like Dan or not, he did give us underground crossings and this Granny Flat reform will be as significant and as good for Melbourne.
Support this for your children’s sake and for your own sake as you grow older!!
Pre-Xmas 2023M4 - How's the Final Market?
Mal James
Buy Sell Agent
0408 107 988
mal@james.net.au
Round the Grounds Top End Melbourne Market: Wow what a difference a rate hike makes.
The market is in a stark decline this last fortnight, compared to recent periods – pre Cup, June, and early last year.
This Pre-Xmas market (M4) started surprisingly positively but took a severe hit immediately after the recent Cup rate hike, recording two of the worst weeks of the year (clearance rate wise) in our 100 auction tests.
This rate hike has negatively impacted all market segments, even the typically resilient Boroondara area, leading to dwindling bidder numbers and falling prices. Spring, which showed promise in May/June and early Winter (M2), has since seen a continuous decline, punctuated by the occasional bouncy weekend.
It has been brutal……Bidderman confirms a run to the exits and hide under the covers and wait till next year.
This decline is occurring with already low stock levels, most noticeably in the $2 million to $5 million range. Potential sellers are hesitant due to the lack of suitable homes to buy, creating a bigger shortage of good stock and so the downward cycle of reluctance among all players gathers momentum.
Clearance rates falling below 50% indicate a sustained period of difficulty, likely extending until at least Easter 2024. The outlook feels clear: a downward trend until signs of rate stabilization or reversal emerge.
Migration and cashed-up buyers in Boroondara are supporting the higher end, outside the temporary ghost town we call Toorak, while the rental crisis forces transactional performance at the lower end. But those in the $2 million to $5 million range, with deals involving a buy and a sell, exacerbated if involving renovations, face challenges as the lending landscape tightens. Some prices will clearly drop as borrowing capacity diminishes.
Unlike past markets driven and overridden by migration, this current Pre-Xmas market is dominated by tightening financial conditions (dramatically lower lending limits and substantially higher rates).
However, in any market, your buy and sell price depends not only on market conditions (+-10%) but also on the PPP quality of the home (+-80%) and your strategy and approach to securing it (+-10%).
Quality in both home selection and buy /sell strategies will rise in importance in these challenging times, and can help you, providing you allow it as a buyer or seller.
There is always opportunity and now could be a great time to buy……as a seller you need to play it smart…. both need the right advice to navigate these bumps in the road.
DON’T PANIC! 🫣
It feels like Luna Park, see you next week.
See the guy on the left. Scott Patterson is his name. He is a brilliant leader of men and women estate agents and has K&B humming!
Difference in Weekly Markets
Look at the difference between Week 1 and Week 2 and 3. That’s largely the Cup Rate Hike
2023M4 Week 1
Bidderman
1.7
Stock
GOOD
Clearance
76%
Ducks
8
Volcanoes
5
2023M4 Week 2
Bidderman
1.3
Stock
LOW
Clearance
41%
Ducks
12
Volcanoes
3
2023M4 Week 3
Bidderman
1.1
Stock
LOW
Clearance
53%
Ducks
8
Volcanoes
2
Difference in Quarterly Markets
A decline in the second half of the year after a bounce mid year
2023M2 May
Bidderman
1.8
Stock
LOW
Clearance
69%
2023M3 Spring
Bidderman
1.4
Stock
LOW
Clearance
65%
2023M4 Pre-Xmas
Bidderman
1.4
Stock
LOW
Clearance
58%
Difference in Geographical Markets
Look at Boroondara, oh how the mighty have fallen in a fortnight. Stonnington has improved and Bayside remains on a low base.
Stonnington
Bidderman
1.5
Stock
GOOD
Clearance
71%
Boroondara
Bidderman
1.5
Stock
LOW
Clearance
56%
By The Bay
Bidderman
1.2
Stock
LOW
Clearance
51%
Sorrento circa $7m
Brighton
Kew circa $20m
We are still buying and selling…..the train has not stopped…….its just going more slowly between stations
Transforming your home for $300,000
including kitchen bathroom, landscaping, architect and permit.
When the going gets tough (interest rates) the tough get going (spend less, think more)… just don’t give up…I loved the reno process)
Mal James
Buy Sell Agent
0408 107 988
mal@james.net.au
The Brief
Sam and Hughie my house really should be bulldozed but I love the location. Make it great again please.
I want you to bring light, space and form with a modern minimalism and serenity into my home, my life and my budget is $300,000.
6 months later I am as happy as I have ever been. It’s done.
I now entertain.
I feel so good.
The process was truly wonderful, and I enjoyed it immensely and even making some changes during the reno it stayed under $300,000 (just) and about $320,000 with fees etc.
I would totally recommend Sam Collins and Hugh James
Brilliant idea number 3: Lights were on in the middle of the day – as it’s south. It was dark. Now it’s bright even when there are no lights on the air flows through refreshing my life. It’s all about windows, reflective surfaces and minimalism.
This is a truly great home – whatever the market, its still a truly great home. Rob is not pushy, but his homes get bought and sold.
Appointments through Paul Richards of Bekdon Richards 0414 503 324. Known him 15 years. He’s straight up..that’s why we work with him!
BY THE BAY
As you get older you tend to hide away, but having the opportunity to work and align with Zali has been my year’s highlight. She’s a star.
1st Week M4
Bidderman
1.3
Stock
GOOD
Clearance
58%
2nd Week M4
Bidderman
1.3
Stock
LOW
Clearance
33%
3rd Week M4
Bidderman
1
Stock
LOW
Clearance
57%
Port Melbourne – Withdrawn/Method Change – on auction day
Brighton East, 4 Vincent Street
SOI: $2,900,000 – $3,100,000
Sales Agent: Andrew Campbell – Hush
Before auction: $undisc
Bidders: 1
Brighton, 15 Hammond Street
SOI: $3,500,000 – $3,850,000
Sales Agent: Sam Inan – Belle Property
Before auction: $undisc
Bidders: 1
Brighton, 118 Cole Street
SOI: $2,500,000
Sales Agent: Chris Hassall – Buxton
Before auction: $undisc
Bidders: 1
Brighton East, 33 Letchworth Avenue
SOI: $3,000,000 – $3,300,000
Sales Agent: Kate Strickland – Marshall White
Before auction: $undisc
Bidders: 1
Brighton, 11 Roslyn Street
SOI: $2,400,000 – $2,500,000
Sales Agent: Greg Downes – Hodges
Crowd: 50
Opening Bid: $2,400,000
On the market: $2,550,000
Under the hammer: $2,920,000
Bidders: 4
4 Bidders were keen to get the show on the road with no need to for vendor bid here today. Quick bidding, a short half time break and the home was knocked down at $2,920,000
Elwood, 31 Goldsmith Street
SOI: $2,200,000 – $2,300,000
Sales Agent: Nicole Prime – McGrath Real Estate
Crowd: 17
Opening Bid: $2,250,000 VB
Passed in: $2,250,000 VB
Bidders: 0
Not a single bid could enticed from the small crowd of onlookers. The property was passed in on a vendor bid of $2.250M
Brighton, 5 Cowper Street
SOI: $2,950,000 – $3,200,000
Sales Agent: Calvin Reid – Jellis Craig
Crowd: 50
Opening Bid: $2,850,000
Passed in: $2,950,000
After auction: $3,062,500
Bidders: 1
About 50 people are lining the fence, and Nick Renna calls for an opening bid, to be answered by the first bidder who places his stake at $2,850,000. Nick wants a $100,000 rise and places a vendor bid above the figure, which bidder 1 agrees to meet. But the home is passed in at $2,950,000 and the would-be buyer ushered inside for negotiation.
Brighton, 18 Grandview Road
SOI: $2,900,000 – $3,100,000
Sales Agent: Campbell Butterss – Marshall White
Crowd: 60
Opening Bid: $2,900,000 VB
Passed in: $3,170,000
Bidders: 2
It’s a theatre at Grandview Road in Brighton this afternoon for the auction of number 18. The booming voice of Robin Parker from Marshall White has to cover the stalls and the dress circle as about 60 people cluster in the front yard, on the nature strip and across the road. Two bidders add to the opening vendor bid of $2,900,000 and the home is passed in at $3,170,000 but sold shortly afterward.
Elsternwick, 40 Bertram Street
SOI: $2,900,000 – $3,150,000
Sales Agent: Daniel Fisher – Gary Peer
Crowd: 51
Opening Bid: $2,950,000 VB
Passed in: $2,950,000 VB
Bidders: 0
Not even a strong cup of coffee could encourage the crowd to raise their hand at this newly renovated property. The home passed in on a vendor bid
Brighton, 17 Laburnum Street
SOI: $2,050,000 – $2,250,000
Sales Agent: Stephen Tickell – Belle Property
Crowd: 40
Opening Bid: $2,050,000 VB
Passed in: $2,050,000 VB
Bidders: 0
Steve Tickell of Belle Property opens and closes the bidding of 17 Laburnum street in Brighton at $2,050,000. Although there are 40 people there enjoying the sunshine, no bidders come forward to participate.
Black Rock, 44 Arkaringa Crescent
SOI: $3,350,000 – $3,550,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 25
Opening Bid: $3,250,000 VB
Passed in: $3,250,000 VB
Bidders: 0
30 people have gathered to watch and Mark opens with a vendor bid of $3,250,000. Unfortunately all is quiet and the home is passed in on that same figure.
Hampton, 130 Ludstone Street
SOI: $3,350,000 – $3,550,000
Sales Agent: Jenny Dwyer – Belle Property
Crowd: 30
Opening Bid: $3,350,000
Passed in: $3,350,000
After auction: $undisc
Bidders: 1
Auctioneer Steve Tickell of Belle Property is all smiles in the bright sunshine as about 30 people group around the pool for the auction of 130 Ludstone street Hampton. There’s an opening bid of $3,350,000 but no further participation so the home is passed in to the hopeful buyer for negotiation.
Sandringham, 174 Beach Road
SOI: $3,000,000 – $3,300,000
Sales Agent: Kylie Charlton – Buxton
Crowd: 27
Opening Bid: $3,000,000
Passed in: $3,175,000
After auction: $3,300,000
Bidders: 3
A small crowd made themselves comfortable in the upstairs living area of this home. Three interested parties placed bids prior to the property being passed in
BOROONDARA
Sim is a quiet achiever, no fuss, no tantrums, high ethics, she just gets the job done. Her biggest year.
1st Week M4
Bidderman
1.9
Stock
GOOD
Clearance
79%
2nd Week M4
Bidderman
1.3
Stock
LOW
Clearance
38%
3rd Week M4
Bidderman
1.2
Stock
LOW
Clearance
50%
Canterbury – Withdrawn/Method Change
Camberwell – Withdrawn/Method Change – on auction day
Camberwell, 59 Brinsley Road
SOI: $2,800,000 – $2,990,000
Sales Agent: Tamsin Curcio – Shelter
Before auction: $undisc
Bidders: 1
Camberwell, 20 Marlborough Avenue
SOI: $2,400,000 – $2,640,000
Sales Agent: Stephen Gough – Marshall White
Before auction: $undisc
Bidders: 1
Deepdene, 20 Walsh Street
SOI: $3,800,000 – $3,950,000
Sales Agent: Geordie Dixon
Before auction: $undisc
Bidders: 1
Camberwell, 8 Gilbert Parade
SOI: $2,800,000 – $3,000,000
Sales Agent: Jonathon O’Donoghue – Jellis Craig
Before auction: $undisc
Bidders: 1
Hawthorn East, 82 St Helens Road
SOI: $4,000,000 – $4,400,000
Sales Agent: Campbell Ward – Jellis Craig
Crowd: 65
Opening Bid: $4,100,000 VB
On the market: $4,550,000
Under the hammer: $4,605,000
Bidders: 2
Contested poolside between two groups. Sold under the hammer to the original bidder with a knockout bid of $5,000, despite dealing in $50,000s the whole way.
Hawthorn, 9 Hilda Crescent
SOI: $6,800,000 – $7,200,000
Sales Agent: Walter Dodich – Kay & Burton
Crowd: 80
Opening Bid: $6,700,000 VB
On the market: $7,350,000
Under the hammer: $8,065,000
Bidders: 2
A vendor bid opening at the bottom of the advertised range was promptly met with a bidder upbid of $600,000, surpassing the advertised range. Game on! Two battled decisively to the eventual selling price.
Camberwell, 1 Lansell Crescent
SOI: $2,500,000 – $2,700,000
Sales Agent: Sophie Su – Kay & Burton
Crowd: 60
Opening Bid: $2,700,000 VB
On the market: $2,910,000
Under the hammer: $3,150,000
Bidders: 5
A bidder constantly circling auctioneer Scott Patterson was a first for him, and two seperate bidders representing the same group both individually bidding the same amount added a wacky flavour.
The auction team controlled it well as 5 bidders lifted the price.
Glen Iris, 16 Peace Street
SOI: $2,800,000 – $3,080,000
Sales Agent: Jason Brinkworth – Marshall White
Crowd: 30
Opening Bid: $2,900,000 VB
Passed in: $2,950,000 VB
Bidders: 1
Auctioneer Daniel Wheeler opened with a vendor bid of $2,900,000, however only one bid was forthcoming, therefore resulting in a pass-in.
Camberwell, 34 Smith Road
SOI: $2,400,000 – $2,600,000
Sales Agent: James Tostevin – Marshall White
Crowd: 50
Opening Bid: $2,400,000 VB
Passed in: $2,420,000
Bidders: 1
The sole bid (other than the opening vendor bid) wasn’t sufficient to encourage crowd engagements, resulting in this property being passed in.
Mont Albert, 52 Zetland Road
SOI: $2,700,000 -$2,900,000
Sales Agent: Tim Mursell – Marshall White
Crowd: 50
Opening Bid: $2,700,000
Passed in: $2,825,000
Bidders: 1
A bidder opened at $2,700,000 and was met with a couple of vendor bids, upping them both times and staying involved.
Mont Albert North, 2 Orchard Crescent
SOI: $2,250,000 – $2,450,000
Sales Agent: Tamsin Curcio – Shelter
Crowd: 65
Opening Bid: $2,250,000 VB
Passed in: $2,260,000
Bidders: 1
A lone bid from the crowd snagged the first right to negotiate.
Glen Iris, 8 Tower Hill Road
SOI: $2,300,000 – $2,500,000
Sales Agent: Ash Howarth – Marshall White
Crowd: 40
Opening Bid: $2,300,000 VB
Passed in: $2,300,000 VB
Bidders: 0
Open and closed on a single vendor bid.
STONNINGTON
Working with G is an experience, she is full-on, the best off-market property finder I have worked with and her clients love her.
1st Week M4
Bidderman
1.8
Stock
GOOD
Clearance
91%
2nd Week M4
Bidderman
1.3
Stock
LOW
Clearance
57%
3rd Week M4
Bidderman
1
Stock
LOW
Clearance
50%
South Yarra, 46 Oban Street
SOI: $2,150,000 – $2,350,000
Sales Agent: James McCormack – Marshall White
Crowd: 35
Opening Bid: $2,150,000 VB
On the market: $2,410,000
Under the hammer: $2,430,000
Bidders: 2
Two bidders swiftly brought this property onto the market, only to have a third bidder swoop in at the end to take the keys.
Malvern East, 16 Grant Street
SOI: $3,400,000 – $3,600,000
Sales Agent: Hugh Tomlinson – Marshall White
Crowd: 70
Opening Bid: $3,500,000 VB
On the market: $3,775,000
Under the hammer: $3,900,000
Bidders: 2
A rapid exchange between two bidders followed Auctioneer Hugh Tomlinson’s opening vendor bid. After a quick break, the determined first bidder bought the home to a round of applause.
Malvern, 15 Moorakyne Avenue
SOI: $6,500,000 – $7,100,000
Sales Agent: Nicole French – Marshall White
Crowd: 42
Opening Bid: $6,500,000 VB
Passed in: $6,550,000
After auction: $undisc
Bidders: 1
It seems the scattered crowd was here to enjoy the sunshine but not to make bids. The property was passed into the sole bidder and negotiations moved inside.
Armadale, 108 Kooyong Road
SOI: $3,500,000 – $3,850,000
Sales Agent: Richard Mackinnon – Marshall White
Crowd: 19
Opening Bid: $2,750,000 VB
Passed in: $2,750,000 VB
Bidders: 0
Auctioneer Justin Long welcomed a crowd of 19 to the auction of 108 Kooyong Road, Armadale. Mr Long opened and closed the bidding, passing the property in on a sole vendor bid of $2,750,000.
Prahran, 41 Charles Street
SOI: $2,250,000 – $2,400,000
Sales Agent: James McCormack – Marshall White
Crowd: 30
Opening Bid: $2,200,000 VB
Passed in: $2,200,000 VB
Bidders: 0
After marvelling at the location and encouraging potential buyers to “leave the car at home” Mr McCormack swiftly placed a vendor bid of $2,200,000. No further bids were placed and the property was passed in on the sole vendor bid.
Malvern East, 34 Ferncroft Avenue
SOI: $4,000,000 – $4,400,000
Sales Agent: Fiona Ansell-Jones
Crowd: 27
Opening Bid: $4,000,000 VB
Passed in: $4,000,000 VB
Bidders: 0
After opening on a vendor bid, and receiving no bids, Auctioneer John Manton took a short break. With no crowd participation, Mr Manton later passed the property in.
JAMES BUY SELL
our clients are looking to BUY your home off-market now
ARMADALE family home $8m to $11m
– looking for ready-to-move-in home. Living in Armadale currently. Children at schools in the area. Mal 0408 107 988
BAYSIDE $2.5m smaller family home and will fully renovate as experienced. Call Gina 0457 835 255
Canterbury – Victorian facade – hopefully ready to move in but would do some work – 800 to 1200 sqm – circa $8m
Mal 0408 107 988
HAWTHORN doctors rooms will reno $3m. Call Sim 0400 304 111
KEW $5m family home ready to move-in. Call Gina 0457 835 255
Can you believe that people pay us money to drive to the Beach, have a great lunch at Stringers and then spend their money!
Ratings of a home’s PPPs consistently gives me a foundation when I talk to a client about what they really really want. This is what I know!
