![\"Shona](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/01\/b9555a6f228701394dd07153b5fbfa63069e560c.png\")
Save<\/p>\nSave<\/p>\n
You have reached your maximum number of saved items.<\/p>\n
Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n A renovated Edwardian shopfront and residence with a heritage overlay in Yarraville sold under the hammer for $1.24 million at auction on Saturday, after three young couples pushed the price nearly $200,000 over its reserve.<\/p>\n The charming two-bedroom home with original details and a sleek contemporary kitchen and living space at 57 O\u2019Farrell Street was listed with a price guide of $950,000 to $1,045,000 and had a reserve of $1,045,000.<\/p>\n The property was one of 577 scheduled to go to auction in Melbourne last week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 54 per cent from 383 reported results throughout the week, while 80 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.<\/p>\n Selling agent Huss Saad from Village Real Estate said the Yarraville home sale was \u201ca strong auction from the get-go.\u201d<\/p>\n \u201cThe opening bid was $55,000 over reserve, at $1.1 million, which I think shocked a few of the other bidders,\u201d said Saad.<\/p>\n Related Article \u201cIt took about thirty seconds or so for the bidding to start again.\u201d<\/p>\n Bidding quickly rose in $20,000 increments to $1.2 million, then slowed.<\/p>\n Three active bidders took part in the auction; all three were young couples who \u201chad help from Bank of Mum and Dad\u201d, said Saad.<\/p>\n The new owners plan to move in and enjoy the home as it stands, while the sellers, who have lived in the house for 20 years, are relocating to the country.<\/p>\n Both sellers and the new owners were happy with the outcome, as was Saad, who said: \u201cIn this market, this result just doesn\u2019t happen.\u201d<\/p>\n<\/p>\n The home was originally a bakery built in 1910. \u201cIt has a beautiful facade, and the shopfront area of the home is protected by a heritage overlay,\u201d he said.<\/p>\n Interest in the property was evident both in the campaign and in the \u201chuge crowd\u201d that watched the auction.<\/p>\n \u201cIt\u2019s a landmark property,\u201d said Saad.<\/p>\n In Strathmore Heights, a family wanting to secure a property in the Strathmore school zone beat two others at auction, paying $1.19 million.<\/p>\n The three-bedroom home at 44 Caravelle Crescent was listed with a price guide of $1 million to $1.1 million and had a reserve of $1.1 million.<\/p>\n Selling agent Rick Langdon from MATTHEWS said: \u201cThe property has a pool and is in a great neighbourhood where the kids can play out in the street.\u201d<\/p>\n Related Article \u201cThis was important to the family,\u201d he said.<\/p>\n Three bidders took part in the auction, including one first-home buyer and another party, who Langdon said came in late and dropped out of bidding early.<\/p>\n The bidding rose in $10,000 increments, then in $15,000 increments, before decreasing to $2000 and $1000.<\/p>\n In Watsonia, a couple relocating from New Zealand beat four others to secure the keys to a two-bedroom house for $916,000.<\/p>\n The home at 12 Cooinda Crescent was listed with a price guide of $790,000 to $840,000 and a reserve of $850,000.<\/p>\n There is no legal requirement for a vendor\u2019s reserve to be in line with their property\u2019s price guide.<\/p>\n Selling agent Kaylah Guerra from Ray White MacLeod said the couple loved that the home was \u201cmove-in ready and didn\u2019t have to do anything to it\u201d.<\/p>\n The auction opened with a bid of $800,000 and rose in \u201crandom amounts\u201d.<\/p>\n Related Article \u201cThe bidding was a bit all over the place,\u201d Guerra said.<\/p>\n Five active bidders took part in the auction: four first-home buyers and the successful bidders, a young couple buying their first home in Australia.<\/p>\n The sellers have just retired and are planning to travel around Australia.<\/p>\n Guerra said the market has been \u201cpatchy\u201d over recent months.<\/p>\n \u201cSome properties are selling well, those that are high quality and presented well, but others, more original or knockdown properties, are struggling.\u201d<\/p>\n In Clifton Hill, a two-bedroom ground-floor apartment opposite Darling Gardens sold at auction for $910,000.<\/p>\n The unit at 7\/201 Gold Street had a price guide of $850,000 to $920,000 and a reserve price of $900,000.<\/p>\n Selling agent Andre Daniel from Nelson Alexander Fitzroy said the auction \u201ctook a bit of time to get going\u201d.<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/1783242012_14_51ecc9e8e3dbed9de390fa276a6a17c8d4ad0928.jpeg\")
<\/a><\/p>\n![\"A](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/1783310359_585_d4cb9f7e4b13e473e71e89b8a311231c816681e9.jpeg\")
<\/a><\/p>\n![\"Discounting](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/8d3693c7a602a40127639b773d5fcf44ee6ebcde.jpeg\")
<\/a><\/p>\n
![\"Kistian](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/1782718750_344_eb13ef6ba51d0829caf21ca932479d1a81c875bb.jpeg\")
<\/a><\/p>\n