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April 25, 2026 \u2014 5:26pm<\/p>\n
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Remove items from your saved list<\/a> to add more.<\/p>\n Save this article for later<\/p>\n Add articles to your saved list and come back to them anytime.<\/p>\n Got it<\/p>\n AAA<\/p>\n A West Footscray home which passed in at Saturday\u2019s auction following a single bid ended up selling in post-auction negotiations for $1,175,000.<\/p>\n Despite attracting a large crowd, the auction of the three-bedroom, two-bathroom house at 6 Dyson Street<\/a>, guided at $1,075,000 to $1,175,000, was slow to start, forcing Village Real Estate agent and auctioneer Joseph Luppino to work hard for the only bid that came his way.<\/p>\n After placing a vendor\u2019s bid of $1.1 million, Luppino succeeded in eliciting a genuine bid of $1,120,000 about 12 minutes into the auction before passing the house in. The reserve price was $1.2 million.<\/p>\n There is no legal requirement for a vendor\u2019s reserve to be in line with their property\u2019s price guide.<\/p>\n \u201cIt was a bit surprising \u2013 we had other interested parties here in the crowd, they just didn\u2019t raise their hand,\u201d he said. \u201cWe are seeing that a lot more these days.\u201d<\/p>\n However, after nearly an hour of negotiations, the bidder \u2013 a local young family \u2013 purchased the house for $25,000 under the reserve.<\/p>\n Luppino said the vendors, who moved to Warrnambool during the COVID years, had kept the house with the intention of moving back to Melbourne, but ultimately decided to stay in Warrnambool to be closer to family.<\/p>\n The property was one of 246 scheduled to go to auction in Melbourne this week. By evening, Domain Group recorded a preliminary auction clearance rate of 56 per cent from 151 reported results throughout the week, while 22 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.<\/p>\n Regarding the market,<\/a> Luppino said while buyers were more nervous, they were still in the game.<\/p>\n Related Article \u201cThe market is not bad \u2013 we\u2019ve recently set the record twice in West Footscray in the last month and a half,\u201d he said, adding that a lack of \u201cgood properties\u201d on the market were also responsible for the slower market.<\/p>\n \u201cI think people are just holding back, but by holding back they are missing out \u2013 you just got to buy when they [homes] come up,\u201d he said.<\/p>\n In Melbourne\u2019s south-east, two young couples battled it out for a three-bedroom townhouse in Murrumbeena, which sold under the hammer for $925,000.<\/p>\n The \u201cthoughtfully refreshed\u201d townhouse at 7\/223 Murrumbeena Road<\/a> was listed with a price guide of $880,000 to $930,000, with a reserve of $920,000.<\/p>\n Buxton Real Estate Bentleigh agent and auctioneer Ivan Blow started the auction with a vendor\u2019s bid of $850,000, which was followed by a genuine bid of $860,000. From there, bidding quickly reached reserve.<\/p>\n \u201cThe successful couple had help from one of their parents \u2013 dad was bidding back boldly and confidently, and the other party was hesitating, and when they did bid, dad bid straight back,\u201d he said.<\/p>\n \u201cPeople say is there a strategy, and more often than not I will say no, the highest bidder will win on the day, but in this instance, dad\u2019s confident bidding certainly made a difference and maybe rattled the underbidder,\u201d he added.<\/p>\n Commenting on the market<\/a>, Blow said April \u201cis always a quiet month with Easter and school holidays\u201d, and that March was a successful sales month.<\/p>\n \u201cWe were finding the market was a lot more concerning in January and February \u2026 but I think most people have factored the rate rises in now,\u201d he said.<\/p>\n Meanwhile in Fawkner, in Melbourne\u2019s north, an investor outbid four other parties to buy a house built in the early \u201960s and still in its original condition.<\/p>\n The three-bedroom house at 148 Lorne Street<\/a>, situated on a 727 square metre allotment, was listed as an \u201coriginal home ready for renewal\u201d, with a price guide of $780,000 to $820,000. It had a reserve of $800,000.<\/p>\n Ray White Coburg lead agent Laksh Jassal said despite a \u201cvery slow auction\u201d, the house sold under the hammer for $866,000, with five parties bidding.<\/p>\n \u201cIt started with a $700,000 genuine bid, went to $720,000, and then we had to take a quick pause and talk to the vendor before putting in a vendor\u2019s bid of $770,000,\u201d Jassal said.<\/p>\n \u201cThat\u2019s when the auction actually kicked in.\u201d<\/p>\n Related Article The buyer was a local man purchasing his first investment property, who will renovate the home<\/a> before renting it out.<\/p>\n The nearest underbidder was an older couple from Turkey who were looking for their first home.<\/p>\n Jassal said while there \u201chas been a shift in the market based on the current [global] situation\u201d, people were still buying, just more carefully.<\/p>\n \u201cWe are still getting good prices \u2026 we\u2019ve just lost the urgency to buy now, where a lot of buyers are not really keen to put an offer in.\u201d <\/p>\n<\/p>\n Save<\/p>\n You have reached your maximum number of saved items.<\/p>\n![\"Auctioneer](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/7772da26f7dad06eb742cf636f985276c0a6d2e5.jpeg\")
Auctioneer Joseph Luppino worked hard to sell the three-bedroom house in West Footscray. LUIS ENRIQUE ASCUI<\/p>\n![\"Jellis](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/e88d8ec6c20082477352a47472bd192738a9af54.jpeg\")
<\/a><\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/f3681ecbe50482e5d740217a6d3e43b6f6af1db3.jpeg\")
The Murrumbeena townhouse attracted two bidders at Saturday\u2019s auction. Domain<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/6157d051e4d31fd70775ca0aea0648ab31fcab75.jpeg\")
The Fawkner home sold for $866,000 to an investor, who plans to renovate it before renting it out. Domain<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/5aafc72f6015f2f7d4c34e093e6bb6f36a2d8f46.jpeg\")
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