July 9, The cupboard is bare …

School Holidays!!!!! The cupboard is bare, the offerings few and far between. Most of the action has been off market in the last week. In fact, we secured three properties prior to auction over the last few days. (We do this when we can; it avoids some of the outrageous bidding that has become an epidemic over the last few months.)

Boardroom auctions were also popular. What has surprised us is how vendors are becoming willing to treat and (more significantly?) the agents who are keen to do deals so they can take off on holiday. You have to ask who some of them are acting for – their clients or themselves? Sorry. Silly question.

It was a quiet weekend for auctions. 45 Emo Road, East Malvern, an attractive 4 bedroom Californian Bungalow with a floor plan that had problems was quoted at $1.4 million plus and sold for $1.7 million with six bidders. 32 Nicholson Street, South Yarra sold for $1,350,000 following a quote of $900,000 plus.

An apartment in ?Kingstoun? on St Kilda Road saw it sell for $1,730,000 with very strong bidding against a reserve of $1.1 million.

We still see the residential market heading up; with many vendors and purchasers holding out until Spring. The greatest buyer interest, however, is still in houses rather than apartments. Individuality rules?

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