Looking back on our February report card I would say the Stonnington market received a solid B+ for the first selling month of the year. Clearance rates held up nicely (79% for the month according to the REIV) as did prices, with some highly competitive Auctions and knock out results, particularly in Armadale, where we […]Read more "A Solid B+"
I’ve written before about how clearance rates can be misleading, but ostensibly Team Fetter/Sciola are at 100% clearance from our first 10 auctions of 2022. A clean sweep! That is to say, we have sold 10 out of 10 properties at or before Auction. The market must be flying, right? Well, yes, 10 out of […]Read more "10 out of 10"
If I had a bitcoin for every time I’ve heard this from a local home owner I’d be flying private and definitely not working Saturdays. “But, David, prices never really go down in Armadale”, they say. Wrong. Unless you take a 10 year time period, then maybe, yes, in 10 year blocks prices have never […]Read more "“Prices never really go down in this area…”"
Saturday was abuzz with buyers. Two new listings from our office saw over 40 groups inspect the first open. That’s a lot. Like the weekend before, the median number at opens was 15-20 groups, which is higher than our long term average of around 10. Our first auction for the year was highly competitive, with […]Read more "Perceived Value"
This weekend sees the last of Team Fetter/Sciola’s Auctions for 2021, leaving us with two weeks until Christmas to tie up loose ends… sell our remaining stock and continue listing for next year. The Stonnington market will pause, as usual, from Christmas until Australia Day, aside from a very small number of transactions. February should […]Read more "And Pause"
You often hear famous comedians lamenting over their early days of stand up when they had to follow one of the all time greats on stage – Eddie Murphy or Chris Rock or Robin Williams – and absolutely bombed. I’m sure they still did a great set but it’s near on impossible as a mere […]Read more "A Hard Act To Follow"
When lockdown finally ended and our first round of open inspections were eerily quiet I was a bit concerned. Could the market have turned that quickly? Where did all the buyers go? Turns out they were all hungover and/or shopping. Phew! There’s no doubt the dynamic has changed since our freedoms returned. During lockdown 6.0 […]Read more "Holding Up"
We are now in extra-time, or “overtime” as the rest of the world calls it. The full four quarters of the real estate year have nearly played out. There are five weeks until Christmas and only one more week to launch auction campaigns for 2021. And what a year it has been! Who would have […]Read more "Extra Time"
The market has been on an incredible tear. A once in a generation, once in a career bull run like many of us have never seen before. Our average annual capital growth rate in Melbourne has been 6.8% over the last 25 years. We’re up at least 20% this year. That’s half a million dollars […]Read more "Is The Market Cooling?"
On Saturday we eased back into open inspections. It was the first time we’ve put open for inspection boards and flags out for a very long time. We had to literally dust them off. It was actually quieter than expected on Saturday. It seems most of Stonnington were either down at the beach, shopping, hungover, […]Read more "Quality Over Quantity"