It looks like we’ve entered the era of Ohmygod! Everywhere you look, unpredictability looms. That’s when everyone freezes? Well… 231 Kooyong Road. Sold last week at $12m against a reserve of $9.24m, leaving four wounded underbidders looking for four walls of salve. 6 McMaster Court. Sold at $16,088,000 to You Know Who, leaving us to […]
Living dangerously, etc. Read More »
Buyers are hurting. Agents are hurting. Sellers are… Who? Spring was Wonderful gardens. Cheery people. Home after great home coming up for sale. Spring is Wonderful gardens. Desperate buyers. Agents with bare boards. Sellers in hiding. Nudge, nudge, wink, wink say no more aside, wherever you look there’s a whole lot of nothing going on.
The last few months has seen the least market activity in 10 years. Top end auctions? What are they? We live in interesting times 25 Hawthorn Grove went over the weekend for $8.02m against a reserve of $7.3m. $7.3m was the flame that drew three moths to bid. It duly burnt two of them. Underquotes
It’s hot. It’s not. It’s hot. It’s… Read More »
Tis the season to be jolly. Jolly somewhere else. Somewhere warm. Taking their cue from the plovers, snipes and stints, those top enders who have bought somewhere to move have hit the migrate button. Chasing them into Tulla’s First Class lounge are agents bearing contracts. It’s as close to a trip they’ll get because… Agents
Where did everyone go? Read More »
You’re selling at the top end? Unless you’re divorcing, downsizing or dead, you’re not likely to go to auction. OK, you heard about 67 Hope Street blowing up over the weekend (3 beds, no parking, $5,110,000 — $2m over the quote) but that just gets its nose through the top end door and that pocket
Where were you when auctions blew up? Read More »
Just when you thought that the doomed first quarter must lead to endless winter doldrums, a starting gun is fired and the race is on again. Serious sellers are back. Serious buyers are meeting them. Serious money is abroad. List and sell on the same day? What kept you so long? It’s a wave that’s
Lowenomics backfire “He’s raising interest rates to reduce demand and inflation.” That’s not working where we live. At the low end it might be moderating prices while it’s terrifying people with mortgages, but if you look up in Salubria it’s killing supply. All the doom talk is persuading owners to stay put and when enough
If so, it’s a whisper. It’s been the quietist January since 1987. A silence muted by two shelf-sitters, sitting since before Christmas at $18m Plus and $20m Plus. Plus no offers. Too much Plus is a big Minus. Why does the Peninsula matter? Because it often indicates what’s likely to happen in the wider market that
Is the peninsula sending a message? Read More »
Some clarifications, and a cure for a hiccup. Remember yesterday’s very small good street in South Yarra with three homes for sale between $12m and $18m? Yes. Fulham Avenue. A little bit of history: Two have already been offered to deafening silences and the third is “swinging in the breeze”. The vendors, presumably, live on
In the dim, dark past (4 weeks ago), things were simmering. The top end was doing nicely. A sale here, another there. Mostly home-grown buyers. Some so big they hit the news, most behind closed doors. Rumblings were heard off-shore and lower down the ladder. But why hang around waiting for a crash when you