Posted on 26 Apr 2016, 1:32 p.m. in News
In the background of Melbourne's property market, prestige homes are bought and sold on the QT, writes Clare Barry.
In the hubbub of open houses and auctions that defines Melbourne’s property market, a rarefied sector operates discreetly, often unlisted and quietly transacted.
“The top end works to a completely different drumbeat,” says buyer’s advocate David Morrell. “You’ll notice they rarely auction properties north of $6-$7 million, and we’re seeing a lot of bigger sales transacted without any agent. Privacy is a very big issue at the top end.”
Abercromby’s conducts 70 per cent of its business off market, according to director Jock Langley, tapping an ever-growing database of potential buyers and sellers.
He travels abroad to market directly to overseas buyers, mainly in Asia, targeting both foreigners and expats seeking a “return” property.
Those at the very top end of the market are seeking a trophy home, says Morrell, or are trading up to a bigger house for family. Many want a recently renovated house, and bigger blocks of land. “They want [up to] 40,000 square feet, and the fact is there aren’t too many of those homes left in Toorak, they’ve been subdivided.”
Morrell believes the prestige market has moved little in the past 10 months, with the behind-closed-doors nature of the sector making it difficult to track a sale’s progress.
‘You’ll notice they rarely auction properties north of $6 or $7 million.’Buyer’s advocate David Morrell
“What happens is they put it up for an EOI (expression of interest) and then it just disappears into the sunset. You never know what was offered or whether they got an offer or not. Most EOIs north of $10-$15 million are languishing.”
So for those who seek them, what makes a single $20 million home worth 27 median-priced Melbourne houses?
“It’s land holding, it’s scarcity, but it’s also a home that’s going to provide a lifestyle not just for a few years but usually for a generation,” says Marshall White’s Marcus Chiminello.
“Most buyers looking to spend $15 to $20 million at the moment tend to require a tennis court and beautiful views and a walk-in proposition, there are many attributes on an emotional level that will drive buyers above and beyond the logical things.
“But there are always buyers in Melbourne, whether local or international, who are prepared to pay $15 [million, up to] even $30 million for a home when the right thing comes up. But it’s got to be near perfect, otherwise they’ll just wait for the next opportunity.”
Read more here: http://www.domain.com.au/news/off-the-record-20160420-go63rr/
Inner Melbourne’s A-grade properties are facing increasing competition at auction, and there is a noticeable spike in contested auctions in the ever-popular middle-ring areas.
Read More: http://www.domain.com.au/news/melbourne-property-market-gap-closes-between-budget-and-prestige-20160305-gnbh1e/
Kinvoir, 42 Lisson Grove, Hawthorn.
This lovely Victorian home has been in Melbourne’s Triaca family for 90 years, seeing six generations pass through its halls.
Kinvoir was built around 1886 and has been home to Maria and Adrian Triaca for 25 years. The property was bought by Adrian’s grandmother Amelia Tilbury and was his childhood home.
Read more: http://www.theaustralian.com.au/life/home-design/prestige-property/triaca-family-of-cafe-latin-sell-their-historic-hawthorn-home/news-story/358131879b55b4357f4dbafd6a9a9d01
Crathre House has set East Melbourne’s house price record – again.
Read more: http://www.domain.com.au/news/east-melbourne-crathre-house-breaks-own-price-record-20160309-gne66f/
35 Burnett Street, St Kilda: History on the hill.
One really should arrive by horse and carriage and wear a full-length dress with a bustle or a starched, wing-tip collar and cravat – or at least carry a pocket watch – to inspect this fabulously oversized and historically significant property. - See more: http://www.theweeklyreview.com.au/spaces/35-burnett-street-st-kilda-history-on-the-hill/
Heritage-listed, refined and unforgettably spectacular, Ard Rudah is a property that takes you to a world all of its own. Just 45 minutes from Melbourne CBD and approximately 25 minutes from Tullamarine International Airport, Ard Rudah is the ultimate country escape.
They say the village of Flinders in Victoria has the world’s cleanest air, whipped straight off the Antarctic.
It certainly boasts one of the world’s most stunning coastlines, a rugged collection of rock and beach where Westernport Bay meets the Bass Strait. It’s a mix of unforgiving, wild waves on one side and safer bay beaches on the other. Inland, vineyards blanket the landscape.
“It’s a bit like the Riviera of Australia,” says Jock Langley, the director of Abercromby’s Real Estate. “It’s fast becoming the region for Melbourne’s wealthy and elite. That whole peninsula has seen massive changes in the last 10-20 years.” Read More: http://www.domain.com.au/news/escape-why-melbournes-elite-retreat-to-flinders-20151118-gkvznv/
Melbourne’s luxury real estate market looks set to boom: agents
Source: The Australian | November 07, 2015
Melbourne’s prestige property market is set for a flurry of activity over summer and into next year as buyers see value in a market that has begun recovering from its post-GFC lethargy.
But experts warn further volatility in the equities markets could put a damper on buyer hunger for homes worth $5 million and above, while reducing corporate profits will also have an impact.
Affluent southeastern suburbs of Toorak, Kew and Canterbury are where the activity in the established homes will be, while the $5m-plus apartments will be sold in the central business district, Southbank and East Melbourne.
One local, at Kew, will aim to capture the demand for trophy homes in the Victorian capital, putting a home on Swinton Avenue up for auction this weekend with hopes of reaping more than $9m.
The home, called Swinton, has views over the river and city skyline, with the recently renovated house on a 2013sq m block of land about 7km from the CBD. Built in 1856, the Italianate six-bedroom, five-bathroom property includes a music room, formal sitting and dining rooms, and a luxurious kitchen. There is also a guesthouse that has been converted from horse stables.
The agent marketing the property, Abercromby’s Real Estate director Jock Langley, says there has been a surge of inquiries in the high-end market in the past month. Read More
'Swinton' c1856 - Rare and Remarkable Riverside with CBD Views, is this week's cover story in "The Weekly Review". http://www.theweeklyreview.com.au/spaces/23-swinton-avenue-kew-towering-turret-estate/
23 Swinton Avenue, Kew is for sale by Private Auction on Wednesday 11th November. For more details, click here: https://www.abercrombys.com.au/kew-23-swinton-avenue-ab3084/
36 Verdant Avenue, Toorak.
This spectacular residence as featured in the Domain newspaper:http://www.domain.com.au/news/interior-design-brings-beauty-into-a-home-20151023-gk9nij/
For more details click here: https://www.abercrombys.com.au/toorak-36-verdant-avenue-ab3346/
Simon Curtain’s arrival at Abercromby’s was yet another milestone for the company’s superb record of attracting and retaining people of the highest calibre, both professionally and personally. Simon’s achievements are significant and he understands the requirements of managing complex assets, portfolios, service and relationships. A former long serving senior executive with Mercedes-Benz Australia, Simon went on to complete a finance and investment degree, which lead to successful terms with Bankers Trust, Jones Lang LaSalle, and Place Estate Agents. Read More: http://bit.ly/1ER79ug
Vintage Real Estate : Director Jock Langley take us inside one of Melbourne's finest lifestyles at Kevan & Judy Gosper's magnificent South Yarra sub-penthouse for a #champagneshowing. Delighted to have @louisroederer on hand for last night’s private inspections. A perfect partner #champagne #abercrombys #louisroederer #luxuryrealestate #melbourneluxury #domainroad #penthouseliving #southyarra #botanicgardens #melbournepenthouse #kevangosper #ioc #woodmarsh #stephencrafti #privè
Meet our new team member- Michael Derham
Michael began his career in real estate at Abercromby’s and we were delighted when he announced in 2015 he was “returning home” to add his considerable experience and talent to our sales team. Michael has built an enviable reputation from a genuine commitment to understanding his clients’ expectations, and then doing everything in his power to exceed them. Read More..http://bit.ly/1Ix7WAj
With a background as a small business owner, Bill knows better than most what it takes to run a successful business and that there is no substitute for hard work and attention to detail, an attitude he takes with him for each and every vendor.
Speaking English, Mandarin and Cantonese means that Bill is a fantastic bridge for Abercromby’s and our vendors into the quickly developing Asian market, meaning no opportunity will ever be missed. Bill has long had an interest in property and prior to his move into real estate had bought his own investment properties. Loving to swim, Bill can often be found swimming a few laps or heading to the beach in the warmer months.
Abercromby's Real Estate had the privilege to launch the eagerly awaited new book from author Stephen Crafti, Architects' Houses, at the recently opened bookshop by Corrie Perkin.
As you have probably deduced, the book takes a look into the often private and very fascinating way in which the people that have designed some of Australia's most prominent houses choose to live.
The night featured a Q and A with Stephen (author of over 40 design, fashion and architecture books) and Philip Goad (featured architect and Professor of Architecture at The University of Melbourne) hosted by Corrie.
Posted on 6 May 2015, 11:50 a.m. in News
The Weekly Review 5 Million-Dollar Buys in this weeks edition featuring some of Melbourne’s finest homes sold by Abercromby's.
Check out 6 Flete Ave, Armadale in The Weekly Review this week.
When the owners of this luxurious home were considering what style of house to build, they eventually settled on classical.
Apart from the obvious architectural elements such as its pediment, and a balcony with columns, the house offers living on a grand scale. Its marble entry hall allows guests – up to a couple of hundred of them – to circulate between the formal living rooms and enjoy the lavish spaces and the well-proportioned interiors.But this is classic with the lot. Sure, there are five bedrooms, all with en suites, a lift, cinema, formal and informal living rooms, a swimming pool, metres of marble and a bar that would be the envy of many boutique hotels. But the house also has full automation, security, smart-wiring, video surveillance (inside and out), surround sound, concrete floors overlaid with marble, a temperature-controlled cellar, and a basement level with accommodation fit for a nanny or visitors. Among the more unusual features on a list that extends to five pages is the secret entrance to the basement staircase.
Read More :http://www.theweeklyreview.com.au/property/news/1836145-armadale-6-flete-avenue/#.VTRSF2fECM8
Source : The Weekly Review
- Abercromby's - Making headlines!
- MEET OUR TEAM- Introducing Hugh Hardy
- More Than Opera Annual Dinner
- You know you’re in Melbourne, but here, you feel top of the world
- MEET OUR TEAM- Introducing Jock Langley
- AustCham Singapore Business Connects
- Abercromby’s. Aim True.
- Maddie’s Shield #3 Celebrity T20 Match
- Happy Holidays
- Treasure Chest Charity's "Touch of Red" lunch.
- 2018 Melburnian of the Year
- Sir Robert Menzies’ Kew home looks for popular vote at auction
- A piece of Barwon River frontage has sold at private auction.
- Sam Goddard: The real estate director also a women’s AFL coach
- You know the expression, 'bigger than Texas' ? This place is that to a T.
- The Outback Car Trek Raising Funds for the Flying Doctor
- Middleton - A celebration of light and space.
- Dream Home | 371 Highett Street, Richmond
- “Domaine Lane” Cocktail launch
- Meet Director Sam Goddard - Domain Rising Star Winner 2017
- House of the Year honours in 1993
- Coast & Country
- General Interest
- Just Listed
- Luxury & Lifestyle
- Market Updates
- Property of the Week
- RUN Melbourne
- Coast & Country
- Tim Bennetts
- Sam Goddard
- Jock Langley
- Main Ridge
- The Age
- The Weekly Review
- Interest Rate
- The Australian
- South Yarra
- Hugh Hardy
- Abercromby's Real Estate
- Andrew Harlock
- Expression of Interest
- Malvern East
- Glen Iris
- Open for Inspection
- Kate Cusack
- Tim Derham
- James Report
- Market Update
- East Melbourne
- Agents Choice
- Weekly review
- Jeff Gole
- Port Melbourne
- property management
- Simon Hicks
- Sales Market
- Interest Rates
- Luxury Properties
- For Sale
- Howthern East
- Myles Crowhurst
- Rental Market
- WAN house of the year
- Private Auction
- Mont Albert North
- Private sale
- Financial Times
- New York
- Rio De Janerio
- Valentine's Day
- House & Garden
- Abercromby's Melbourne
- the period home renovator
- New York Times
Tweets by AbercrombysRE