85 Spring Street - Launch.

Posted on 23 Nov 2017, 2:38 p.m. in Abercromby's, Inspections, Market Updates, News

Last night Abercromby's hosted an event at the 85 Spring Street, display suite. Our guest were immersed in the sights, sounds and beautiful views from this magnificent development, which is a complete work of art. We would like to say a big thank you to everyone who made this a truly memorable night.

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 More details on this property, click here https://www.abercrombys.com.au/melbourne-ab3952/

 

Melbourne property market

Posted on 20 Nov 2017, 10:30 a.m. in Market Updates, News

Melbourne property market showing signs of slowing. Jock Langley talks to @recondaily about Melbourne's property market. CoreLogic's final auction numbers show that Melbourne's clearance rate fell below 70 per cent to 69.2 per cent last week, the city's weakest result since July 2016. Jock Langley of Abercromby's Armadale in inner Melbourne told SCHWARTZWILLIAMS, the market he services is still "pretty strong". He said in some areas in Melbourne might be seeing "less action" because there is a "smaller buyer pool", but Abercromby's Armadale's clearance rates have been "as good as you could ask for". Read more here: https://therealestateconversation.com.au/2017/11/17/melbourne-property-market-showing-signs-slowing/1510871840

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#therealestateconversation #realestatenews #realestateau #realestate #property #propertynews #SchwartzWilliams #theeconomy #Melbourne #propertymarket #clearancerate #JockLangley #Abercrombys #capitalcityauctions @abercrombysrealestate

It is a Melbourne Game Changer.

Posted on 5 Jun 2017, 10:49 a.m. in Abercromby's, Buying, Luxury & Lifestyle, Market Updates, Sold

 

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This week the mainstream media again gave air to the impending doom of all Melbourne Property, through coverage of Citibank’s international head’s visit to Australia. Whilst some were digesting that, there was a sale that only helped confirm the opposite of Citibank’s constantly reported negative comments, with regards to the Australian property market.

That sale was 2 Myvore Road Toorak with Jock Langley and Tim Derham from Abercromby’s. It is a Melbourne Game Changer.

At James Marketnews there are no blankets (statements) and so the market we are talking about is good quality family homes in Inner Melbourne.

2 Myvore Toorak
What should a home – a very, very good one, over 4 levels with all the bells and whistles in Toorak go for?

Well let us help you work through it.

The block is an average house block for Melbourne at 790 square metres and was purchased/settled two years ago at $4,450,000 – a knock down – that worked out then at $5,600 per sq metre. It was bought at a strong time in the market (2015), possibly when some people were telling all and sundry, that the market was overheated.

Myvore is a good street, but is it one of Melbourne’s or indeed Toorak’s best streets?

Read More: http://marketnews.com.au/2017/06/game-changer/?utm_source=James+Market+News&utm_campaign=a51684b5ad-Masterclass+5th+June+2017+%28MN+subscribers%29&utm_medium=email&utm_term=0_1d173b0777-a51684b5ad-192491982

Abercromby's Announcement

Posted on 3 Apr 2017, 11:35 a.m. in General Interest, Market Updates, News

We are delighted to advise that Sam Goddard has been appointed as a Director of Abercromby's.

Sam’s dedication and hard work coupled with his maturity and leadership qualities leaves no doubt that Abercromby's will be in good hands well into the future.

We congratulate Sam on his appointment and look forward to a long and successful relationship. Sam can be contacted on 0448 870 454 or email: samg@abercrombys.com.au.   

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Population surge fires up market

Posted on 31 Mar 2014, 12:37 p.m. in Abercromby's, Market Updates, News

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Tim Derham from Abercromby’s motivates bidders at 18 Seymour Avenue, Armadale.

Home buyers purchased three out of four properties put to auction in Melbourne on Saturday as the market easily absorbed a big increase in listings.
Population growth pressures and strong demand for homes near schools and transport are boosting sales and setting the scene for further house price growth, especially in the inner suburbs. Read more..

March Sales Market Update

Posted on 11 Mar 2014, 12:54 p.m. in Abercromby's, Market Updates

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The residential real estate market has continued on from where it left off at the end of 2013.

Interest rates remain low, more buyers have entered the market place and competition is strong at auctions and private sales alike. Some notable properties we have on offer include:

• 82 Caroline Street, South Yarra
• 25 Manning Road, Malvern East
• 22 Kardella Street, Malvern East
• 231 Burke Road, Glen Iris
• 3/430 Glenferrie Road, Kooyong
• 40 Clarke Street, Prahran
• 27 Barry Street, Kew
• 6 Dickens Street, Elwood
• 484 Purves Road, Main Ridge
• 485 Meakins Road, Flinders

If you are looking to sell or buy, quietly and discreetly contact one of our team on 98645300 to discuss your real estate matters further.

February Sales Market Update

Posted on 21 Feb 2014, 2:01 p.m. in Abercromby's, Market Updates

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The residential real estate market continued to show growth in the later months of 2013.
The RBA have again decided to leave interest rates on hold after their first meeting of 2014.
Abercromby’s have listed some quality residential homes for the first quarter of 2014 and we expect to continue to see solid performances in the inner suburbs of Melbourne.

Some notable properties include:

• 62 Park Street, South Yarra
• 2a Redcourt Avenue, Armadale
• 218 Kooyong Road, Toorak
• 33 Rockley Road, South Yarra
• 65 Heyington Place, Toorak
• 67 Beaver Street, Malvern East
• 907/150 Clarendon Street, East Melbourne

If you are looking to sell or buy, quietly and discreetly contact one of our team on 98645300 to discuss your real estate matters further

November Sales Market Update

Posted on 14 Nov 2013, 3:49 p.m. in Abercromby's, Market Updates

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The Residential real estate market has shown no sign of waning from the solid results it has produced this year despite being fully tested with a high number of listings.

Suggestions of a boom market remain premature with auction clearance rates well below those recorded at the peak of the market in 2010.

Despite the overall evenness of the market, the strongest prices growth is being recorded in the middle to upper end of the market, indicating the strong contribution of buyers trading up or down.

Not all properties offered for sale make it to our website as 71% of our business is by private sale. A selection of our forthcoming campaigns includes the following:

•           62 Park Street, South Yarra
•           5 Turner Street, Malvern East
•           184 Beaconsfield Parade, Middle Park
•           18 Hornsby Street, Malvern

If you are looking to sell or buy, quietly and discreetly contact one of our team on 98645300 to discuss your real estate matters further.

November Rental Update

Posted on 14 Nov 2013, 3:47 p.m. in Abercromby's, Market Updates, Renting

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With the sales market in full swing we have seen the rental market also hit its straps, as tenants enter the rental market in unprecedented numbers.

It has been a terrific November so far. We have already leased a number of properties priced from $1200per week through to $3000per week. Our vacancy rate continues to remain lower than average because of our strong relationships with relocation agents and our ability to place clients into executive properties off the market.

We currently have unprecedented demand for quality well located 3-5 bedroom family homes throughout Stonnington & Boroondara and we expect this to continue well into the New Year.

If you are thinking of leasing your property now is the right time to contact Myles Crowhurst on 98645353 or 0433916155 to take advantage of the influx of inquiry prior to the commencement of the new school year.

Market Update

Posted on 19 Sep 2013, 5:27 p.m. in Abercromby's, Market Updates, News

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Spring has sprung!

The spring residential real estate market for 2013 will be hotter than ever.

The weather is getting warmer, the days getting longer and the flowers are blooming.

The Federal election is finally over with a new government that will give us a clear direction for the next three plus years.

Stock levels for the next three months will increase dramatically, continued improved confidence and low interest rates will see a wonderful selection for buyers in all price points.

At Abercromby’s, 71% of our business is by private sale. We have built one of the finest international databases of clients /buyers – from expatriates in Hong Kong, Singapore, London and Dubai to migration agents in Asia and beyond.

We have a number of well qualified prospective purchasers wanting to buy quietly and discreetly “off market”.

If you are considering selling or would like to learn more about the Luxury and Lifestyle specialists please feel free to contact us on 9864 5300.

Moving up in prestige universe

Posted on 26 Jun 2013, 12:07 p.m. in Abercromby's, Market Updates, News

Buyers are trading up on the back of a prestige home surge.

Price growth in Melbourne’s $1 million-plus housing range is starting to bring flow-on benefits to the wider market. The prestige property sector has moved up a gear this year, mainly because more ”trade-up” buyers are chasing opportunities to upgrade their standard of housing.

Real estate commentators say that Melbourne’s top-end market is in much better shape than Sydney’s, and that strengthening demand for $1 million-plus homes here is rubbing off on sales of lower-priced property.

The senior economist at Australian Property Monitors, Dr Andrew Wilson, said on Saturday that Sydney’s residential market had recouped all the price losses it had incurred since capital city house prices began to fall in 2010.

By contrast, Melbourne’s median house price was still 4 per cent below its peak in June 2010.

Data collected by the Fairfax-owned Australian Property Monitors (APM) shows there are 30 Melbourne suburbs with a median house price of $1 million or more. Sydney has 110 million-dollar suburbs. ”We have seen very strong and rising auction clearance rates since Easter in both Sydney and Melbourne, with different segments within those two markets operating at different levels,” Dr Wilson said.

”We have a quieter prestige market in Sydney at the moment, but a more active prestige market in Melbourne.”

He said Sydney’s housing recovery was being fuelled by improving sales in the entry-level and mid-priced segments.

”In Melbourne, it has been the top end of the market that has lifted the wider market out of its correction phase and put it into a recovery phase,” he said.

”That has been driven by the fact that the Melbourne prestige market was up to 15 per cent below its previous price peaks. People started to see there was a lot of value in the prestige market.”

Rob Vickers-Willis, sales director of exclusive agency Abercromby’s, said the company’s sales in the June quarter to date were 28 per cent up on sales for the 2012 June quarter.

Since April, Abercromby’s has sold 38 Melbourne properties at an average selling price of $2.4 million. About 45 per cent were private or off-market sales and 15 per cent of properties were snapped up by overseas buyers.

Melbourne’s prestige market has three segments – $1 million to $2 million, a $2 million to $4 million mid-level top-end, and $4 million-plus.

Buyer’s advocate Mal James said $2 million to $4 million sales were strong. He believed the price falls seen since 2010 in the wealthy Stonnington and Boroondara municipalities had now been made up. ”Stonnington has been the big mover,” he said. ”Sales in Stonnington this year compared to last year are just chalk and cheese.”

Marshall White, which handles many $1 million to $5 million sales, is seeing more trade-up purchasers. Director John Bongiorno said buyers who owned lower-end prestige homes were trying to upgrade but some were being frustrated by a lack of stock. At many auctions of $1 million to $5 million properties there were now two to five bidders.

Dr Wilson said trading up made sense in this market. ”If you’re in the bottom end of the prestige market, a trade-up scenario works for you. Even though you have to discount your property, you are getting the higher-value property at a discount rate.”

Saturday’s auction clearance rate was 71 per cent, from the 632 auctions reported to according to the Real Estate Institute of Victoria. There are 680 auctions scheduled next weekend.

Source : Domain

June 2013 Sales Market Update

Posted on 12 Jun 2013, 12:31 p.m. in Abercromby's, Market Updates

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The Autumn real estate market finished extremely well.

We have seen some exceptional results in the $2m-$5m price range over the past 3 months. This resurgence in the top end is due to a number of Baby Boomers selling the big family home to downsize.

Off market transactions continue to go from strength to strength, accounting for 71% of our business.

We recently sold a luxury apartment in Washington Street, Toorak for just under $6 million, still under construction.

We feel that with Winter now here and school holidays fast approaching, stock levels will slow but demand will continue to be strong.   To learn more about the premier, premium, independent partnership driven business, please feel free to contact us on 9864 5300.

Abercromby’s Expands – We’ve Added New Talent to our Team

Posted on 23 May 2013, 2:19 p.m. in Abercromby's, Market Updates, News

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At Abercromby’s, we are delighted to welcome two experienced Stonnington & Boroondara experts, Simon Hicks and Hugh Hardy, onto the team.

Simon’s stellar career in residential real estate commenced in 2000, he has forged an outstanding reputation based on his ability to take clients’ property ambitions from the desired outcome stage to the reality of the delivered result. Immediately approachable and genuinely friendly, Simon’s track record over a sustained period confirms the importance of putting people first.

Hugh’s exceptional career in real estate commenced in 1993. With a major focus on exceeding customers’ expectations. Hugh has built up a wonderful client base that is exceptionally loyal. Hugh’s hard working ethic and friendly demeanour means outstanding results for his clients.

We are assured of the continued growth and success at Abercromby’s with the addition of both Simon and Hugh to the sales team.

MARKET UPDATE APRIL 2013

Posted on 16 Apr 2013, 2:35 p.m. in Abercromby's, Market Updates

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The current strength of the 2013 residential market has not been witnessed for
several years.

Abercromby’s clearance rates are running at 92% as compared to the industry average of just over 70%.

Interest rates remain steady, the stock market has increased, which in turn gives both Vendors and Purchasers confidence to act.

Some exceptional results have been achieved over the past month including:

• 186 Burke Road, Glen Iris.
• 45-47 Lyndhurst Street, Richmond.
• 21 Vincent Street, Glen Iris.
• 9 & 10 Lisbuoy Court, Toorak.
• 4 Devorgilla Avenue, Toorak.
•150/1008 Clarendon Street, East Melbourne.
• 54 Caroline Street, South Yarra.

And we have a superb collection of luxury and lifestyle properties on offer.

To learn more about the premier, premium, independent partnership driven business, please feel free to contact us on 9864 5300.

MARKET UPDATE: MARCH 2013

Posted on 6 Mar 2013, 3:49 p.m. in Abercromby's, Market Updates

The 2013 residential market has jumped out of the blocks. Large numbers at our open for inspections and multiple bidding at our auctions. With confirmed low interest rates and the stock market increasing by 17% since November 2012, we have seen a lot of confidence from buyers and vendors meeting their expectations.
Several top end sales we have sold “off market” include:

• 21 Denbigh Road, Armadale.
• 17 Union Street, Armadale.
• 114 Vale Street, East Melbourne.
• 21 Vincent Street, Glen Iris.

We have some quality luxury and lifestyle homes on the market including:

186 Burke Road, Glen Iris.
23 Wangaratta Street, Richmond.
348 Bay Street, Port Melbourne.
20 Normanby Place, Richmond.
4 Devorgilla Avenue, Toorak.
9& 10 Lisbuoy Court, Toorak.
70 Sutherland Road, Armadale.
150 Finch Street, Glen Iris.
45 Lyndhurst Street, Richmond.
12 Davis Avenue, Kew.
• “Sunnyside” George Street, East Melbourne.

To learn more about the market or to discuss your property needs – whether it be buying,selling or renting – please feel free to contact us on 9864 5300.

Rental Market Update

Posted on 6 Mar 2013, 3:43 p.m. in Abercromby's, Market Updates, Renting

The 2013 rental market remains tight, with Abercromby’s seeing an increased demand for large family homes within Stonnington & Boroondara.

Our vacancy rate of 2.1% remains significantly lower than the average vacancy rate of 3.6% recorded for inner Melbourne during the month of January according to REIV data.

Whilst demand is strong, we are finding that tenants are becoming increasingly particular about the condition of rental properties. By maintaining your property in good condition and attending to any outstanding repairs, you are more likely to attract a quality tenant, who pays on time and treats the property like their own.

Should you or anyone you know have a home that fits the above parameters or would like more information on our property management services please contact Myles Crowhurst on 98645353 or 0433916155.

MARKET UPDATE JANUARY 2013

Posted on 23 Jan 2013, 5:26 p.m. in Abercromby's, Market Updates

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The residential property market finished 2012 in a positive mood.
Several top end sales of $10 million plus were made (Abercromby’s included) and this contributed to a filtering effect through the market place.

We feel the momentum gained in the last quarter of 2012 should continue for the first quarter of 2013.We have already listed some quality homes to offer for auction in the first quarter, so keep an eye on our website.

As 2013 is a Federal election year, historically markets go into a major slow down six weeks before the election date. So if you are considering selling, the first quarter should be a good one.

To learn more about the market or to discuss your property needs – whether it be buying or selling please feel free to contact us on 98645300.

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