In a week when the highest reported sale was well shy of $3 million, it’s easy to conclude that while the rest of the market may be waking up for Spring, the top end snores peacefully on.
That’s not quite the case.
Over the past 10 days, we have bought a significant number of significant properties. No auctions, no expressions of interest. All behind closed doors and some including very vigorous negotiations. All Toorak. All from $4 million to $6 million up.
And nothing will be said in public.
What can be reported was not the stuff of headlines. 29 Callantina Road – a brief skatebord ride up the road from Scotch – had a number of hands in the air before falling for a trifle over $2.6 million.
If the market is indeed waking from one of the longest slumbers it has known, from now ’til Christmas will be worth staying up for – including a pre-race Super Saturday on October 27.
Breaths will be ‘bated.
Bayside: Great weekend for … parking
You know it’s quiet when you can find somewhere to park in Church Street.
Acres available. School hols. Grand Final.
Calm before the storm?
Listening to the pundits, the worm has turned. A quick rate cut and a 66% published clearance rate and it’s all she’ll be right again.
Do hold your breath.
Many of those suggesting everything is on the up have their reasons. If there is substance here it will require more substantial evidence. Let’s see all the sales results for October – and probably well into November.
71 Landcox Street, Brighton East. A well-preserved and rarely seen in these parts Victorian. Quoted at $1.45-1.55 million, it had five hands up before selling at $1,611,500.
Bentleigh sold seven out of the eleven auctioned. Top of the bunch and the only one to hit seven figures was 3 Sharman Court. 7 rooms on 780 sq m, it sold for $1,080,000.
148 Thomas Street, Hampton had it all: a well presented, well renovated, well-sized family home right next to a park. What it didn’t have is enough land (465 sq m) or a buyer. Highest bid was the auctioneer’s $1.33 million. The reserve is $1.39 million.
Brighton went private. Even with half of its burgers looking for somewhere to park in Noosa, there were still some sales.
29 St Ninians Road passed in several weeks ago with a reserve of $4.6 million. It has now sold for just that.
33 Wolseley Grove found its $2.76 million.
43 Drake Street – sold for land value – scored exactly $250/sq ft in the old money or $2,687/sq m for its 763 sq m for those less romantic.
PS Apologies for the delay in posting. The ether ate my homework.
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