Toorak. South Yarra.
Where dreams of mansions come true.
Sometimes.
There’s just not enough Trak and SY to find a suitable spot for all those dreams, thus the warring cheque books.
Add developers with dreams of their own.
Stand back. Watch prices rise like nowhere else.
4 Robertson St No court. Not much land. No Chinese interest. Still brings out three dreamers and goes for around $24m.
16 Chastleton Ave Smallish block. South side. Not an Albany Rd-type address. Still went for $7.3k/sq m — more than $500k over reserve.
Powell St Wrong side of Toorak Rd. Still goes for $7.6k/sq m.
1 Edzell Ave Hopes of $20m+ Is your cheque book handy?
Persistence Award
Chastleton Ave. (again). Not a big block. No court. No garden. “Sold” last year for a sq. m. record $14.25m, but the deposit was the only cheque seen. Rumoured to have sold for real this week at around a too-high $14m.
Shag On Rock
Hawthorn Grove One lonely bidder. In those woods there are usually at least four. Does the agent know why?
Whopper of The Week
School hols. Winter. Real estate slumber beckons. A great gulf between now and when anything might sell.
One property — on the shelf for three months — suddenly has “great interest” and will be sold at 5pm Friday unless there’s a better offer.
Sorry. We’ve heard all that before.
Guess what. Still for sale. Hello, Pinocchio.
He’s one of a tribe. More and more we’re hearing lines such as: “We’ve been offered $XXX. Solid. Do better or lose out.”
We wait. We wait.
The offer? What happened to the offer?
Some time later there’s a switch in agents and a realistic price. It happens.
What’s remarkable in all this is that reputations are so easily self-destructed; and serial offenders are so quickly found out.
Time for bed
One of the biggest agents has 20+ sales people and only two on deck this week.
The market’s gone night-night. Top end buyers and sellers have headed for warmer nights or frozen slopes.
Our clients won’t hear from us unless there’s a truffle on offer.
Sleep tight.