Brighton: 50 Asling St (David Hart, Buxton), sold $4.13m, 6 bidders

Saturday’s auction results demonstrated that 2015 is going to finish the way it started. On a record number of properties available for auction, the market saw a reported 66% clearance rate. The overall sentiment from buyers is still positive for the $1m plus market.  Although there were a few properties sold beforehand at higher levels, the highest result on Saturday was 34 McKean Street Fitzroy North (Stephens/Laferia, Nelson Alexander), a renovated warehouse by renowned Melbourne architect Kerstin Thompson for an undisclosed price in the high $4millions.

34 McKean Fitzroy – a great example of why it pays to get a good architect

Interest is now turning to 2016. The first quarter is likely to be short and sharp – Easter (Good Friday) falls early on the 25^th March. Vendors who have run out of time to auction this year should feel confident that buyer interest will continue next year and for those vendors whose properties have ‘passed in’ recently there may still be good opportunities to sell before Christmas with a number of under-bidders still wanting.

Auction Highlights:

Land sales:

Off-markets:

Talk and activity is increasing with respect to off-markets and 2016 pre-markets.

Auction Spotlight:

14 Bateman St, Hampton (Robin Parker, Marshall White), after auction $2.6m, 4 bidders

As Robin Parker started his preamble, a black Maserati purred down the street and grinded to a halt outside number 14 Bateman. The crowd of around 35 watched intently and admired the car before Robin resumed his preliminaries and called for an opening bid. Bidder 1 offered $2.1m and we were away. Bidders 2 and 3 entered soon after and at $2.525 Robin ducked inside to refer to his vendor. Back outside, he advised us that he wasn’t quite at reserve and the property passed in soon after at $2.555m. Sold after auction for $2.6m.

Hampton: 14 Bateman St (Robin Parker, Marshall White), after auction $2.6m, 4 bidders

25 Ash Grove, Malvern East (John Morrisby, Jellis Craig), sold $2.54m, 4 bidders

A big crowd of around 85 people line Ash Grove to see what would happen at number 25. John Morrisby was our auctioneer and after a succinct preamble called for an opening bid. All was quiet so he tabled a vendor bid of $1.825m to kickstart proceedings. In the end we had three bidders in the mix, and as an unreserved auction, the home eventually sold for $2.54m to a big round of applause.

Malvern East: 25 Ash Grove (John Morrisby, Jellis Craig), sold $2.54m, 4 bidders

Agent Opinion: Following on from the Domain article this week, is the market still strong for all properties, or are you noticing some changes in the amount of buyers, their interest and competition for the A Graders, B Graders & C Graders in  your area?

Sam Gamon (Chisholm & Gamon): “The question really comes down to houses v apartments because we’re seeing a two-speed market and have been for about 6 -8 weeks. Houses are attracting huge competition and generally have an abundance of buyers whereas apartment interest is slackening off unless it’s suitable for downsizers as owner occupier properties, has a high level of finish or a significant point of difference such as Art Deco features, house-like proportions or generous outdoor areas. Quality is the key in both market segments and we are feeling the B and A-grade homes are finding less attraction in the market place. Buyers are probably being a little less forgiving so it’s important for vendors to place significant emphasis on their presentation and pricing. You don’t get a second chance to make a first impression so make it count. “Attraction” properties generally always go well and we have huge demand for those top tier houses, townhouses and apartments. The market is currently carrying some historically high stock levels which means buyers are likely to be more discerning. Consider selling your home in December or mid-January when there is potentially less available.”