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August 8, 2026 \u2014 1:54pm<\/p>\n
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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n A Brunswick semi in an industrial zone sold for $917,500 on Saturday, with five bidders rocketing the price more than $110,000 over its $800,000 advertised reserve.<\/p>\n The two-bedroom house at 29 Talbot Street<\/a> is bordered on two sides by the soaring walls of a neighbouring tile factory, which buffet it from street noise and provide a vine-covered backdrop.<\/p>\n Partially renovated, with updated bathroom and kitchen, and plush new carpet, the home was initially listed with a guide of $700,000 to $770,000, before being updated to advertise its $800,000 reserve in the final two weeks of the campaign.<\/p>\n Jellis Craig Northern agent Moe Sayyah said more than 50 groups inspected at the first open and many noticed the price was \u201ccheap for the area\u201d.<\/p>\n After building inspections revealed some work was likely, the vendor agreed to advertise the reserve<\/a> \u201cto be transparent and attract the right buyers\u201d. As the house is in an industrial zone, commercial loan conditions may also apply, requiring a 20 per cent deposit.<\/p>\n The auction opened with what auctioneer Adrian Petrucelli called a \u201ccheeky\u201d $650,000 bid, quickly countered with a $750,000 vendor bid.<\/p>\n Related Article From there, five active bidders traded bids of $10,000, $5000 and eventually $2500, with a young first home buyer couple winning the day, nudging out another couple who were pushed above their budget.<\/p>\n Petrucelli said the advertised reserve had helped let buyers know \u201cwhat would buy it\u201d.<\/p>\n Sayyah thought it showed the Victorian government\u2019s proposed changes to auction laws, which would require vendors<\/a> to advertise their reserve seven days before auction day from October 1, would \u201chave a positive impact\u201d on the market.<\/p>\n The vendors were investors. The property last sold in 2002 for $224,000.<\/p>\n The property was one of 696 scheduled to go to auction in Melbourne this week.<\/p>\n In Footscray, an updated single-fronted Victorian house sold for $817,500 in post-auction negotiations, after passing in on a single genuine bid.<\/p>\n A short walk from Barkly Street, Footscray station, and Footscray Market, 26 Fitzroy Street<\/a> features a stylishly renovated interior, with new bathroom and kitchen, while maintaining a classic Victorian weatherboard front and paved rear courtyard.<\/p>\n The two-bedroom property had a price guide of $800,000 to $825,000, which Loutakis agent and auctioneer Michael Loutakis said had been revised up from $700,000 to $770,000 after considerable interest early in the campaign. It had a reserve of $835,000.<\/p>\n There is no legal requirement for a vendor\u2019s reserve to be in line with their property\u2019s price guide.<\/p>\n Loutakis opened bidding at $800,000, and a young couple made the first and only bid before the property passed in and sold to them in negotiations.<\/p>\n Loutakis said there was \u201ca bit of emotion\u201d when the vendors and buyers met post-auction, as the vendors had bought the house as their first home and were handing it over to a young couple who were after their first home.<\/p>\n There was another interested party who chose to hold off<\/a> doing their due diligence \u2013 such as building or pest inspections \u2013 before the auction, Loutakis said, in the hope the property would pass in, and they could make a conditional offer after the fact.<\/p>\n Related Article \u201cWe\u2019re seeing it a lot,\u201d the agent said. \u201cPeople are not willing to spend money \u2026 but we went into the auction knowing that. The people who bought it made it happen.\u201d<\/p>\n In Kensington, a contemporary townhouse sold for $943,000 after it was nudged $3000 over its reserve by two competitive bidders.<\/p>\n The red brick and render property at 38 Cornish Lane<\/a> features three bedrooms, and an open living and dining area split over two levels, with an additional large attic space and rear courtyard. It had a price guide of $900,000 to $950,000, and a reserve of $940,000.<\/p>\n Nelson Alexander Flemington agent and auctioneer Jayson Watts said bidding opened at $900,000. From there, two active bidders pushed the price up in quick increments until it hit $940,000, at which point Watts went inside to consult the vendors to make sure the property was on the market. He returned to the street to get an \u201cextra $3000\u201d before it sold.<\/p>\n Watts said the buyers were a young couple moving into the area, and the vendors were moving \u201caround the corner\u201d to a larger home as they wanted to stay in the area.<\/p>\n \u201cThere\u2019s a lot of ego about what people think their home is worth,\u201d Watts said. \u201cBut vendors who understand there\u2019s been a correction in the marketplace<\/a> and price accordingly are having comfortable campaigns, and selling well.\u201d<\/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\/08\/9e1507eed39ee8a1f65a81351ff8c99a196215c3.jpeg\")
Auctioneer Adrian Petrucelli looks across the crowd as five keen bidders push 29 Talbot Street more than $110,000 above its $800,000 advertised reserve.Simon Schluter<\/p>\n![\"Deepdene,](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/08\/4189ef046b3a9fe5a3630d262941d8af38a340cc.jpeg\")
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The property was bordered on two sides by soaring, vine-covered factory walls.Simon Schluter<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/08\/ee926a317f99c08eb7dc25a1fe49f8dc10dc67ea.jpeg\")
The contemporary kitchen was one of the featured updates to the home.Loutakis Real Estate<\/p>\n![\"A](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/08\/9e9c1a10ee609dcf1befdd1b0f0ac2ca8d91e9f8.jpeg\")
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