Fresh Market News

May 31st & June 1st Weekend, 2008. Melbourne.

Overall Clearance rate: 64% on 658 properties to auction.

Market continuing to stabilise at all price levels.

Mal James Principal Buyer Agent 0408 107 988. - Melissa Ryan Principal Buyer Agent 0409 409 357
Peter Sinclair Principal Buyer Agent  0423 778 774 - Adam Woledge Registered Architect 0413 318 079

AUCTIONS WE ATTENDED THIS WEEKEND - 31st May, 1st June 2008

15 St Johns Avenue, Camberwell. This is a very impressive,newly built period style home with no expense spared on inclusions. Auctioneer Jeremy Desmier from Fletchers in Canterbury conducted a very good auction, squeezing every last penny out of the four participating bidders. Bidding opened with a vendor bid of $1.8 million, was announced on the market at $2.02 million and sold for $2.2 million in front of a crowd of about 150.

69 Rostrevor Parade, Mont Albert North. Great block ofland at approximately 1059 square metres attracted three bidders at the Jellis Craig auction on Saturday. After an opening bid of $600,000, the property was passed in to a bidder at $930,000 and was sold to that person for $965,000. About 50 people attended the auction.

6 Coonil Avenue, Malvern. This is a landmark property, however in need of updating to modern needs. On grand scale land of approximately 1716 square metres, a crowd of about 100 people attended the Kay & Burton auction and auctioneer Jeremy Fox was unable to attract any bidding and passed the property on a vendor bid of $5.0 million. The property’s position, at the rear of Cabrini Hospital, may have been a negative for some.

 

Agents in the Bayside suburbs Hampton & Sandringham did not have a great weekend – we believe that between the two suburbs there were eight auctions conducted and only one property sold. It seems buyers may be looking for homes in original condition rather than homes that have been renovated

The home that sold was 4 Daly Street, Sandringham.

It was passed-in to the only bidder and sold after a 30 minute negotiation. This property rated very well and was pretty much in original condition. Auctioneer Mark Earle began with a vendor bid of $1.0mil and a bidder came back with 1.010mil. The auctioneer placed another vendor bid at $1.05mil and the property was passed-in to the eventual buyer at $1.055. The property eventually sold for $1.125mil. A small crowd of 25 people attended this auction.

 

Another home we rated during the week, 9 Storey Avenue, Hampton.

Storey Avenue was passed-in on Saturday. In front of a crowd of about 20 people, the auctioneer opened the auction with a vendor bid of $1.32 mil and asked for a rise of $20,000. He went inside after much pleading with the crowd to confer with his vendors. After coming outside he nominated another vendor bid of $1.34mil and another at $1.36 and passed the property in. It is a great family home in a good location with a beautiful facade and renovated. However it does have some limitations. Most of the back yard is taken-up with a swimming pool and the upstairs bedrooms have very low ceilings. Reserve on the day was $1.475 mil.

 

1 Rouen Street, Hampton was auctioned at the end of the day on Saturday.

This was a property we felt would perform at auction The home was well renovated with a north facing rear yard. 1 Rouen Street is one property back from Hampton Street and noise may have been a factor for buyers. It is also a busy street at school drop-off and pick-up times. After a good opening speech by auctioneer Bill Jowett pointing out relevant comparable sales and the lifestyle 1 Rouen Street offers, he called for the bidding. As in every auction I attended this weekend, no bidding was forthcoming. The auctioneer placed a vendor bid of $1.3mil and would take rises of $20,000. With no half-time break another vendor bid was placed at $1.35mil and the home was passed-in at this figure. A later offer of $1.40mil was placed against a reserve of $1.55mil. A crowd of about 30 people attended this auction.

 

 

OFF MARKET – QUIET SALES - In our comments we feel it is important to respect privacy hence some of our vagueness.

 

In the last week we were aware of a quiet sale in the Grace Park estate. The quote was $7m plus we believe the final result was in excess of that. This property was a rare find and we rated it 914/1000.

Some more added off market’s added this week. Two other significant properties we visited during the week.

9 Barnsbury Canterbury which we rated at 771 out of 1000 and a quoted price of $9.5m plus.

52 Hampden Road Armadale which we rated 786 out of 1000 and a quoted price of $12 million.

 

 

 

Architectural advisory

Adam Woledge Registered Architect 0413 318 079

26 St Johns Avenue, Camberwell.

With some minor tweaking, this good property can become truly great.
We have rated this property 761/1000.

Positives about this property – street frontage, land area, location, flow and a site topography which encourages generous distant views to the rear. The pool is fantastic, and the open plan living connects well to the rear yard. Renovation to the rear is sympathetic with the original house and not bad overall, but could be a lot better.

Negatives – front rooms are a little dark and first floor layout is a little awkward.

Natural light could be improved to the front rooms by increasing window sizes (type of window would need Victorian style to work properly with the front of the house).

Ideally bedroom 1 should be located on the first floor (to capture spectacular views) complimented by a small sitting area, ensuite and robe area. This would not be difficult to achieve.

This property will be auctioned on June 21 at 11.30am by Marshall White. The property across the road (No.15, our rating was 786/1000) sold strongly on the weekend for $2.2m, and although this does not have the same polish, we expect No.26 to be a strong performer.

Existing Floorplan

 

Suggested Renovation Ideas

 

 

Other Off Market and Quiet Sales

Booroondara - 11
Stonnington - 6
Bayside - 4
Port Phillip - 5
Glen Eira - 1
Other Councils - 3

 

MILLION DOLLAR SALES (all results can be found at REIV)

ALBERT PARK

S 19/156 Beaconsfield Pde B 6rm strata $2,500,000 Hocking Stuart
PI 144 Richardson St B 6rm 249sqm $1,700,000 VB res $1,800,000 Bennison Mackinnon
PI 38 Herbert St WB 5rm 150sqm $950,000 VB res $1,030,000 Hocking Stuart

ARMADALE

S 1 Northcote Rd B 5rm 359sqm $1,342,000 Marshall White & Co
S 20 Auburn Gr WB 5rm 442sqm $1,465,000 Jellis Craig
PI 72 Wattletree Rd B 10rm 980sqm $1,850,000 lo $1,900,000 res undisc Abercromby's RE

ASCOT VALE

PI 78 Walter St WB 7rm $1,000,000 VB lo $1,010,000 res $1,060,000 Biggin & Scott

BALWYN

S 12 Percy St WB 6rm 720sqm $1,220,000 Jellis Craig
S 22 Monash Av BV 9rm 668sqm $1,005,000 Jellis Craig
S 64 Nungerner St BV 9rm 641sqm $1,160,000 Noel Jones
S 99 Yarrbat Av B 9rm 16.7mx90.5m $1,670,000 Noel Jones
PI 3 Hertford Cr v/land 910sqm $1,200,000 lo $1,210,000 res undisc Hocking Stuart
PI 39 Ruby St BV 10rm 776sqm $1,350,000 VB res $1,450,000 Barry Plant
PI 66 Gordon St BV 10rm 711sqm $2,600,000 VB lo $2,600,000 res $2,900,000 Jellis Craig
PS Yarbat Alley BV 9rm $1,100,000 Philip Webb

BALWYN NORTH

PI 24 Cascade St B 7rm 824sqm $1,150,000 VB res $1,280,000 Hocking Stuart

BEAUMARIS

S 3 Harfleur Av B 6rm 920sqm $1,315,000 Hocking Stuart
PI 497 Balcombe Rd v/land 836sqm $1,270,000 res $1,350,000 Buxton
PI 19 Wattle Av B 8rm 767sqm $960,000 VB lo $980,000 res $1,040,000 Buxton
SB 5 Lynette Av BV 7rm 780sqm $1,050,000 Hodges
PS Fairleigh Av $1,207,500 Hocking Stuart

BLACK ROCK

PS St Andrews Ct $1,297,000 Hocking Stuart

BRIGHTON

S 3 Warriston St BV 6rm s/div $1,000,000 Hocking Stuart
PI 15 Weatherly Gr Rend 7rm 650sqm $1,720,000 res $1,850,000 Hocking Stuart
PI 3 Roslyn St B 7rm 864sqm $1,550,000 VB res $1,680,000 Hocking Stuart
PS Bent St $1,050,000 Hocking Stuart
PS Champion St B 6rm $1,750,000 J P Dixon Brighton
PS Drake St $3,411,000 Hocking Stuart
PS Sandown St B 10rm 1064sqm $3,860,000 Buxton
PS St Andrews St $1,080,000 Hocking Stuart

BRIGHTON EAST

SB 21 Wallen St B 7rm 632sqm $1,523,350 Hocking Stuart
PS Marriage Rd BV 8rm 613sqm $1,120,000 Buxton

BRUNSWICK

S 687 Park St B 11rm $2,420,000 Rendina

CAMBERWELL

S 22 Smith Rd B 6rm 732sqm $1,135,000 Marshall White & Co
PS Remon Av B 7rm 714sqm $1,350,000 Jellis Craig

CANTERBURY

S 20 Stanley Gr WB 7rm 429sqm $1,100,000 Jellis Craig
S 31 Stanley Gr WB 6rm 494sqm $1,100,000 Noel Jones

CAULFIELD NORTH

S 11 Langdon Rd BV 8rm 805sqm $1,715,000 L J Hooker Elsternwick/Wentworth Real Estate St Kilda
S 11 Langdon Rd BV 8rm 805sqm $1,715,000 L J Hooker Elsternwick/Wentworth Real Estate St.Kilda

DONCASTER

S 103 Church Rd BV 5rm 1470sqm $1,165,000 Fletchers

EAGLEMONT

S 121 The Righi WB 11rm 1001sqm $1,730,000 Miles RE
S 3 Menzie Gr WB 5rm 780sqm $1,150,000 Miles RE
PI 23 Outlook Dr B 12rm 1415sqm $2,125,000 lo $2,150,000 res $2,400,000 Duncan Mcintyre

ELSTERNWICK

PS Carlingford St $1,500,000 Hocking Stuart

ELWOOD

S 5 Kendall St B 5rm 511sqm $1,260,000 Chisholm & Gamon
PI 117 Addison St B 5rm 518sqm $1,275,000 VB res $1,325,000 Chisholm & Gamon
PS Glen Huntly Rd B strata $2,425,000 Rand Corporation Elwood

ESSENDON

S 15 Mountain St WB 7rm 59mx160m $1,090,000 Paul Mcdonald RE
PS Forbes St WB 8rm 800sqm $1,900,000 Nelson Alexander

FITZROY

S 302 Gore St Rend 7rm 274sqm $1,200,000 Hocking Stuart
PI 3/65 George irreg $1,950,000 VB Nelson Alexander

FITZROY NORTH

PI 35 Rushall Cr B 6rm $975,000 VB res $1,045,000 Thomson
PS Mckean St B 6rm 160sqm $1,180,000 Jellis Craig

FLINDERS

PI 4 Bluff Av B 7rm 2272sqm $1,050,000 lo $1,100,000 res $1,300,000 Kay & Burton

GLEN IRIS

S 174 Finch St B 8rm 653sqm $1,385,000 Marshall White & Co
PI 203 Glen Iris Rd B 8rm 16mx41.2m $950,000 VB res $1,075,000 O'donoghues Camberwell
PI 37 Staughton Rd WB 7rm 754sqm $1,500,000 VB res $1,575,000 Hocking Stuart
PI 45 Vincent St BV 9rm 15mx42.6m $1,400,000 VB lo $1,400,000 res undisc Thomson
PI 89 Summerhill Rd B 8rm 680sqm $1,100,000 VB res undisc Woodards

HAMPTON

PI 580 Hampton St WB 6rm 604sqm no bids res $1,075,000 Hocking Stuart
PI 1 Rouen St 5rm 721sqm $1,350,000 VB lo $1,400,000 res $1,550,000 Buxton
PI 4 Bendigo St WB 10rm 743sqm $2,700,000 VB res $2,875,000 Hocking Stuart
PI 9 Storey Av WB 8rm 629sqm $1,360,000 VB res $1,475,000 Hodges

HAWTHORN

S 1 Leslie St WB 6rm 439sqm $1,030,000 Marshall White & Co
S 15 Brook St B 9rm 1800sqm $3,811,000 Jellis Craig
S 3 New St B 7rm 944sqm $1,710,000 Fletchers

KEW

PI 8 Queen St WB 7rm 15.5mx28m $1,250,000 VB res $1,400,000 Collins Simms

KILSYTH SOUTH

PI 3 Cloverlea Dr BV $1,200,000 VB res undisc Barry Plant

LOWER PLENTY

PS Old Eltham Rd BV 9rm 1200sqm $1,450,000 Morrison Kleeman

MALVERN

PI 16 Hornsby St BV 6rm strata $1,525,000 lo $1,605,000 res $1,695,000 Marshall White & Co
PI 24 Parslow St B 7rm $2,700,000 VB res undisc Kay & Burton
PI 38 Scott Gr B 8rm 1306sqm $2,650,000 VB lo $2,800,000 res undisc Abercromby's RE

MALVERN EAST

S 5 Olive St B 9rm 587sqm $1,840,000 Bennison Mackinnon/Marshall White & Co

MIDDLE PARK

S 40 Park Rd B 5rm 333sqm $2,000,000 Mcpherson Glen Iris
PS Richardson St $1,410,000 Hocking Stuart

MOOROODUC

PS Binnak Way B 10rm 80940sqm $1,100,000 MPRE Harcourts Mornington

MOUNT WAVERLEY

PI 9 Bowman St B 716sqm $1,000,000 VB res $1,100,000 Barry Plant

NORTHCOTE

S 302 Clarke St B 5rm 790sqm $1,012,000 Nelson Alexander

OAKLEIGH EAST

S 1769 Dandenong Rd BV 5rm strata $1,650,000 Ray White Oakleigh

ORMOND

S 22 Draper St BV 8rm 807sqm $1,117,000 Hocking Stuart

PORT MELBOURNE

PS Beach St $1,320,000 Hocking Stuart
PS St Josephs La $1,200,000 Hocking Stuart

PRAHRAN

S 28 Trinian St WB 4rm 357sqm $1,280,000 Marshall White & Co

RICHMOND

S 18 Tennyson St B 6rm $1,532,000 Bennison Mackinnon/Kay & Burton
S 30 Dickmann St B 7rm 172sqm $1,620,000 Hocking Stuart

SANDRINGHAM

S 4 Daly Rd WB 8rm 892sqm $1,125,000 Buxton/Ian Reid Vendor Advocacy
PI 270-272 Bluff Rd WB 9rm 27mx46m $1,351,000 res $1,425,000 Buxton
PI 7 Mclauchlin Av B 9rm 1061sqm $1,750,000 VB res $1,875,000 Hodges

SHOREHAM

PI 15 Marine Pde WB 6rm 6090sqm $1,010,000 res $1,250,000 Heffernan RE

SOUTH MELBOURNE

PI 60 Iffla St WB 4rm 106sqm $1,020,000 VB res undisc Bennison Mackinnon

SOUTH YARRA

PI 64 River St B 5rm 151sqm $1,300,000 VB res undisc Bennison Mackinnon/Saint-John Ea St Kilda
PS Cromwell Rd C 7rm $1,170,000 R T Edgar
PS Yarra St C 5rm $1,195,000 R T Edgar

SOUTHBANK

PS Queensbridge St B 6rm strata $1,040,000 Buxton

ST KILDA EAST

S 4 Murchison St B 8rm 560sqm $1,005,000 Woodards

STRATHMORE

SA 33 Windsor Av B 7rm 608sqm $1,361,500 Nelson Alexander

SURREY HILLS

PI 47 Sir Garnet Rd WB 9rm 401sqm $1,125,000 lo $1,150,000 res $1,250,000 Hocking Stuart

TEMPLESTOWE

S 84-86 Websters Rd BV 6rm 4072sqm $1,150,000 Barry Plant
PI 4 Jacov Garden $3,400,000 res $3,700,000 Philip Webb
PI 5 Waites Ct BV 10rm 4376sqm $1,200,000 VB res $1,290,000 Barry Plant

TOORAK

S 54/546 Toorak Rd B 6rm strata $1,370,000 Biggin & Scott
PI 16A Ross St B 7rm $1,950,000 VB res undisc Kay & Burton
PS Kooyong Rd B 9rm s/div $4,200,000 R T Edgar

WILLIAMSTOWN

S 9A Gellibrand St 5rm 560sqm $1,400,000 Compton & Green
PI 99 Victoria St WB 7rm $1,400,000 VB lo $1,400,000 res undisc Williams RE
SB 28A Bayview St BV 7rm $1,502,500 Williams RE

 

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