August 27, 2016

37 Lambeth Ave

37 Lambeth Ave Armadale – Justin Long, Marshall White sold after auction for $2.865m

It felt like the market shifted up another gear on Saturday.

Some strong results were seen across Melbourne, the REIV reporting a 79% clearance rate from the 823 properties sold (down 200 from the same time last year).  With more quality properties auctioning next weekend, we expect to see similar results continuing.

Auction Highlights

  • 5 Northbrook Avenue, Malvern (Tim Derham/Kate Cusack, Abercromby’s) – a comfortable two storey home on 620 sqm, two bidders pushed the price to $4.94million
  • 17 Bayside Crescent, Hampton (Robin Parker/Kate Fowler, Marshall White) – approximately 610sqm with comfortable (but small) home, many viewing as land, north rear – $1.88million or $3,081sqm
  • 18 Campbell Road, Deepdene (Scott Patterson/Walter Dodich, Kay & Burton) – approximately 1300sqm, renovated single storey period home, on the market at $4.9million with 6 bidders, sold for $6.205million
  • 9 Bristol Street, Surrey Hills (Duane Wolowiec/Stuart Evans, Marshall White) last sold in 2014 for $2.13million. With the addition of a new pool and some minor changes – sold circa $2.8million

Land Sales:

  • 72 Stanley Street, Black Rock (Romana Altman/Adam Saunders, Buxton) – approximately 650sqm, south rear – $1.48million or $2,276sqm
  • 38 Orlando Street, Hampton (Paul Bond/Amanda Jones, Hodges) – good land with no heritage overlay in ‘high density zone’ – $2.4395m or $3,696sqm
  • 21 Bruce Street, Bentleigh (Simon Pintado/Andrew Chisholm, Buxton) corner block on approx. 572sqm in the ‘zone’ – $1.535million or $2,683sqm
  • 40 Grovedale Road, Surrey Hills (James Bateman & James Scoones, Jellis Craig) 627sqm – $1.751m or $2,792/sqm

 Off Markets:

Here are some of the off-markets we have been privy to, this week:

  • Modern family home, South Yarra – $5million
  • Large period home on good land, requires renovation, South Yarra – $6m plus
  • Comfortable family home on good land, close to primary, Beaumaris circa mid $1millions
  • Hawthorn renovated double-fronted home, close to Glenferrie Road – $2.4miliion
  • Modern townhouse, Malvern East – $2million
  • Family home with tennis court – Malvern – $4million

Properties we like for auction September 10:

August 27

Auction Spotlight:


Hampton: 38 Orlando St (Paul Bond, Hodges) sold for $2,439,500

38 Orlando Street, Hampton (Paul Bond, Hodges), sold for $2,439,500, 2 bidders

Quite a big crowd lined both sides of the street for the auction of this property on prized Orlando Street. Paul Bond was our auctioneer and after a succinct preamble, was rewarded with an opening bid of $1.9m from Bidder 1. Bidder 2 was quick to enter the fray and a two-way battle ensued – the property was announced on the market at $2.135m. Bidding continued rapidly, with increments changing dramatically with each bid – $2000, $1000, $500 – Paul did a wonderful job keeping tally! At one point, the crowd let out a collective sigh when a bid was tabled at the eleventh hour after it seemed the home had sold. Bidding continued and not long everyone cheered and clapped when the hammer finally came down at $2,439,500.


Armadale: 37 Lambeth Ave (Justin Long, Marshall White), sold after auction $2.865m

37 Lambeth Ave, Armadale (Justin Long, Marshall White), sold for $2.865m after auction

I along with around 100 others turn up for this mid-afternoon auction in Armadale, and there was a hint of Spring in the air. Auctioneer Justin Long asks for an opening bid and then promptly kicks things off with a vendor bid of $2.5m. Not long after three bidders entered the fray with measured bidding. At $2.795m the property passed in and then sold afterwards for $2.865m.  With a lesser quality version on bigger land in the street selling for $2.76m about 8 weeks ago, the market for offerings such as this looks to be holding up well.


Hampton: 17 Bayside Crescent (Robin Parker, Marshall White) sold for $1.88m

17 Bayside Crescent, Hampton (Robin Parker, Marshall White), sold for $1.88m, 3 bidders

Robin Parker took centre stage in front of number 17 Bayside Crescent and, after addressing the crowd, he called for an opening bid. $1.45m came from Bidder 1, whilst Bidder 2 came in shortly after with a $10,000 rise. Bidding was fast and strong, and Robin headed inside at $1.6m to refer to his vendor. Bidder 3 joined the action upon his return, and at $1.73m the home was on the market. Bidding between two of the bidders continued until the sale price of $1.88m was reached, much to the delight of the big crowd who cheered and applauded the new owner.