An estate agent shows a family a lovely house

A post-budget boing? That’s rarely heard.

Yet Boing! it did. In the week after the budget, $320m+ changed hands in Toorak, including two homes which had been begging for attention for over 6 months (one reverberating to six expressions of interest, leaving five interested parties with pockets full of $20m wandering 3142 with nowhere to go).

Why, people? Why?

Why is Toorak boing-ing? Take your pick:

  • Expats returning
  • MEL is safe, the rest is not
  • Kids
  • Investment (bullet-proof)
  • Investment (GST free)
  • Investment (land) (see below)
  • Sleep (Yes please)

“I wanna build! Find me land!”

Nope. Not in Toorak.

For the first time in our 28 years scouring 3142, there is not one block available.

Yet buyers still circle.

All in just 1.5sq km.

There’s a suggestion that prices may falter. Reason will have to falter first.

The tide rises

43 Lansell Road. Sold three years ago at $24m. Just went again at $30m+
$2m/year GST free is almost enough to keep you in lunch money.

The listings are not

Pickings are slim to none. Agent desperation follows like a lost dog. If you’re selling, anticipate the usual: promise of sky’s the limit in June and July followed by crash landing in the Spring.

Insist on a parachute. Bon voyage.

Hoo Roo Emu

Much head-in-sand. Much bum wiggle. Not much else.

19 Haverbrack Avenue, Malvern.
Popular street, good house but the wiggle isn’t working.
2 Macquarie Road. Does my wiggle look good in this? 
Can new photos do it if the old price won’t?
9 Stradbroke Ave, Toorak. Is $12m too much?
Sold for ~$10m

It’ll sell. No worries. Just wait for the right time.

16 Moule Avenue, Brighton. On the market for two years. Two campaigns. Finally under offer. 
Well … it was. Now back on the market.
Brighton usually runs its own race, but this risks becoming an original.

Pounce before CAV?

7 Willis Street, Armadale. Agent quoting $2.3-2.5m.
Really? Honest mistake or intended underquote?
Will a fast buyer beat CAV to the door?

Pinocchio didn’t!

Nothing to report.

No lies. No ridiculous promises.

He’s gone away.

Peace rules.

Gratuitous Advice

Keep warm.

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