Albert Park 144 Danks: Passed In for $2,410,000; but with 2 bidders there should be a result soon unless the vendor isn't aware of a buyer mood change. Karl Gillon of Buxton
With Bidderman less than 1 – meaning more auctions than bidders – it may be time for a change of scenery for Port Phillip auctioneers unless things turn very quickly or they can come up with some new ideas. And the post auction sales are not happening either according to reported REIV results, so a pass-in and deal later strategy can’t be justified to a seller who is forking out $10,000 to $20,000 on marketing. But the sellers are not our constituency – buyers are. And buyers: you have opportunities if you can find the right home and it’s a goodie. The opportunity comes with your assessment and negotiations skills.
Port Phillip is a very fickle market at the best of times and May is proving more fickle than usual. Especially if its $2m and over.
If you need some help in getting through the maze of unsolds to find the gem then please consider giving us a call. There is actually a lot on offer and buyers if you can’t recognize this buy signal then we advise a change of medication.
Population and Wealth pressures mean that sometime soon this part of the Bay will again shine – so the smart recognise this an opportunity and those that are waiting for more easing are brave.
Sound a bit “salesmany” but we encourage your participation as some of the market seems to be returning to 2009 pricings – how long that will last we don’t know.
Next month maybe a different story
Port Phillip Auctions – 22 monitored – 7 bought – 32% clearance rate
| Passed In | Bought | Not Reported | ||
| ST KILDA | 8/98 Barkly Street | 825,000 | ||
| PORT MELBOURNE | 266 Esplanade East | 905,000 | ||
| SOUTH MELBOURNE | 290 Moray Street | 950,000 | ||
| PORT MELBOURNE | 110 Esplanade West | 1,150,000 | ||
| ALBERT PARK | 73 Victoria Avenue | 1,200,000 | ||
| ELWOOD | 108 Mitford Street | 1,300,000 | ||
| MIDDLE PARK | 32 Wright Street | 1,400,000 | ||
| PORT MELBOURNE | 3a Barak Road | 1,500,000 | ||
| PORT MELBOURNE | 1 Princes Place | 1,700,000 | ||
| ELWOOD | 200 Tennyson Street | 1,925,000 | ||
| ELWOOD | 99 Mitford Street | 2,100,000 | ||
| ALBERT PARK | 144 Danks Street | 2,401,000 | ||
| ALBERT PARK | 26 Foote Street | |||
| ELWOOD | 50 Southey Street | Undisclosed | ||
| ELWOOD | 1/481 St Kilda Street | Not Reported | ||
| PORT MELBOURNE | 192 Albert Street | 925,000 | ||
| PORT MELBOURNE | T04/159 Beach Street | Sold Before | ||
| PORT MELBOURNE | 14 Hobsons Bay Parade | Undisclosed | ||
| PORT MELBOURNE | 9 Mariposa Place | 1,310,000 | ||
| SOUTH MELBOURNE | 93 Cobden Street | Not Reported | ||
| ST KILDA | 14A Irymple Avenue | Undisclosed | ||
| ST KILDA WEST | 282 Canterbury Road | 985,000 | ||
Buy Opportunity
Port Melbourne 266 Esplanade East: Joseph Allen: Passed In for $1,720,000.
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