Feb 14th
The million-dollar-plus market is not thriving; it is drifting or dead if you are a pessimist, after its 10% to 40% falls of last year (some of the largest in living memory). Significantly reduced activity on the peninsulas and only a few million-dollar-plus sales to date in inner Melbourne (but there have been some) points to this. There is no buzz of excitement, more a feeling of nervous anticipation in the market. But, keeping this in context, you would expect few sales at this time of the year. It's early days.
May 9th
The $1m+ Market is now officially spiking (since February it’s been going up). Overseas buyers, invisible a month ago are going through opens in big numbers and bidding strongly. Wow, what a difference a month and a FIRB government rule change makes.
June 20th
There was a real loathing from buyers today as they did what they had to - pay more than eight weeks ago.
August 29th
Despite huge stock increases resulting in crowds per auction being down, buyers are still taking up homes on offer at strong prices. You would be brave to say we are definitely leveling. We saw an increasing bidder average per auction today @ 2.2.
September 12th
It was hot! Damn hot! And so was the weather. Market does not have that feeling of unstoppableness like 2007 – probably because we have had 2008. Nonetheless, we are back to shades of 2007.
October 24th
Huge auction day: 1000+: Bayside stood still; Boroondara, Stonnington marched upwards. Big bidder numbers on some homes - no interest on others. We might be saying zaijian to Chinese auction domination and we may be welcoming back a reinvigorated, across the board $4m+ auction and private sale market.