{"id":872410,"date":"2026-08-29T07:40:21","date_gmt":"2026-08-29T07:40:21","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/872410\/"},"modified":"2026-08-29T07:40:21","modified_gmt":"2026-08-29T07:40:21","slug":"melbourne-property-auctions-kensington-victorian-home-passes-in-as-market-sees-mixed-results","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/872410\/","title":{"rendered":"Melbourne property auctions: Kensington Victorian home passes in as market sees mixed results"},"content":{"rendered":"

\"Wes<\/p>\n

August 29, 2026 \u2014 2:15pm<\/p>\n

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A freestanding two-bedroom Victorian in the heart of Kensington passed in at auction at $1.06 million on Saturday, failing to sell in post-auction negotiations with the sole bidder.<\/p>\n

The turnkey, updated home at 40 McCracken Street<\/a> sits on the high side of the road, with an elevated front deck and views over rooftops to the city. The property had a price guide of $1.05 million to $1.15 million, with a reserve of $1.15 million.<\/p>\n

The house was freshly painted and newly carpeted, and features two separate entertaining areas, with the second on polished concrete. <\/p>\n

Nelson Alexander Flemington agent and auctioneer Josh Kalender said it had been an active campaign, with several parties through multiple times and three potential buyers paying for building inspections.<\/p>\n

Kalender opened the auction with a $1.05 million vendor bid after what he told the 40 or so onlookers was a \u201cpretty anticlimactic\u201d start.<\/p>\n

\"NelsonNelson Alexander Flemington auctioneer Josh Kalender calls for bids after lamenting a \u201cpretty anticlimactic\u201d start to the auction.Wes Mountain<\/p>\n

After more appeals to the crowd, a sole bidder raised their hand to offer $1.06 million.<\/p>\n

The home soon passed in, with the auctioneer telling the street he was \u201cgenuinely bewildered\u201d that there were no further bids for a home on what he said was \u201cone of the best streets in Kensington\u201d.<\/p>\n

The house failed to sell in negotiations with the only bidders, a young couple, and will now be listed for private sale at $1.15 million.<\/p>\n

\"TheThe polished concrete second living area, with ceiling-high north-facing windows and a path onto the rear courtyard, was one of the key features of the home\u2019s updated interior.Nelson Alexander Flemington<\/p>\n

The property was one of 647 scheduled to go to auction in Melbourne this week.<\/p>\n

In a quiet pocket of Fitzroy North, a three-bedroom art deco house sold for $1,572,000 under the hammer, with a downsizer paying $72,000 above reserve.<\/p>\n

Behind 15 King Street<\/a>\u2019s original facade, the home had been renovated to feature polished floorboards and large windows looking onto a small paved courtyard. It had a price guide of $1.4 million to $1.5 million, and reserve of $1.5 million.<\/p>\n

Jellis Craig agent and auctioneer David Sanguinedo said he opened the auction with a vendor bid of $1.4 million, which was quickly countered with a bid from the downsizer of $1.41 million.<\/p>\n

From there it jumped up in $20,000 and $10,000 increments \u2013 the downsizer competing with one other bidder, who was from Sydney \u2013 before trickling down to smaller bids to bring it to a close.<\/p>\n

\"TheThe light-filled entertaining area was one of the modern additions that made the most of the home\u2019s art deco bones.Jellis Craig Fitzroy<\/p>\n

Sanguinedo said the vendors were upsizing and staying local.<\/p>\n

\u201cThey had their kids there, they outgrew it, and they wanted to stay in the neighbourhood because they love it so much.\u201d <\/p>\n

Related Article\"John<\/a><\/p>\n

Sanguinedo thought the end of winter would see more competition for properties, with less supply coming online than in a typical spring, and many buyers still looking in an increasingly tight market.<\/p>\n

\u201cWe have more buyers than we have stock, so I think it\u2019s evening out.\u201d <\/p>\n

In West Footscray, a four-bedroom modern townhouse sold for $900,000 in post-auction negotiations, after passing in at $820,000.<\/p>\n

The double-storey home at 32B Wellington Street<\/a> features floating floorboards, fresh white walls and front and rear gardens, with a rainwater tank, all within minutes of Shepherd Gardens, Tottenham station and Barkly Street shopping precinct.<\/p>\n

The property had a price guide of $800,000 to $880,000, and a reserve of $900,000. There is no legal requirement for a vendor\u2019s reserve to be in line with their property\u2019s price guide.<\/p>\n

Buxton Inner West agent and auctioneer Matthew John said bidding opened with a vendor bid of $800,000, followed by the only genuine bid of $820,000 from a first home buyer couple, after which the property passed in.<\/p>\n

\"TheThe rear garden features a rainwater tank and small al fresco area.Buxton Inner West<\/p>\n

John said there had been three interested parties, but only the first home buyers were ready to go, and once the property passed in, both the vendors and buyers were keen to negotiate to meet the reserve and avoid a protracted sales process.<\/p>\n

The vendors had held the property as an investment.<\/p>\n

John said post-auction negotiations were becoming \u201cmore commonplace\u201d, and thought there was less confidence from buyers to \u201cput their hands up\u201d.<\/p>\n

\u201cAnd it doesn\u2019t feel like [spring] this year will be as busy as a usual spring,\u201d he said.<\/p>\n

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