Melbourne or Mongolia?

He’s a client. He nailed it:

“It’s like the camel market at Ulaanbaatar, Mongolia. It just made no sense to me. One day there would be really fine camels and no-one to buy them, the next day the scrawniest beasts would fetch a fortune. It’s just like Melbourne property.”

In you’re looking for sense in the current market, Mongolia may be a good place to start.

Hill Street Insanity

9 Hill Street Early last month we suggested that if it went for under $12 million it would show the market was softening, at $13 million it was solid, at $14 million madness rules. Well…

$14.62 million. You decide.

Coffee Roasts Buyers

There’s a free coffee truck out the front and then the price goes through the roof.


Advice for the prudent: Free coffee doesn’t come cheap.

Standing Room Only

Where there is little to choose from, the crowds concentrate.

Case in point: 6 Seymour Avenue, Armadale

Crowds, crowds, crowds. Made last week’s bunfight at Spring Road look like afternoon tea at a retirement home.

Commissions Times Three

Toorak vendor, last week.

There’s agent commission to pay. That’s expected.

There’s another commission for a second agent who introduced the buyer. That’s not expected.

And another commission to pay to an interpreter? That’s outrageous.

And signs of things to come?

Meanwhile, Back On Earth.

Fulham Avenue, South Yarra.

Current holder of the Wallflower Trophy–it’s been on the market that long.

Finally sells for what we said it should … two years ago.

No rush.

No Conflict Here

Agency A has a home to sell. Serious home. Toorak. Everything that opens and shuts.

Agency A’s auctioneer steps out front.

Bidder One also works for Agency A. Gets ball rolling.

Bidder Two also (amazing!) works for Agency A. Bids, bids, bids.

Bidders One and Two go hammer and tongs, urged on, ever on, by Auctioneer A.

Property goes way over the odds and is knocked down to a client of Agency A (OK, that was kind of inevitable).

We assume that all then retreated to Agency A to congratulate one another on a good day out.

No conflict to be seen. Just cooperation on every level.


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