![\"Wes](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/09\/1789894109_316_62260e856e5deacf47c16645e58a88f9513fb355be454aa2a0088a6dfde3d44d.png\")
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September 20, 2026 \u2014 4:38pm<\/p>\n
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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n A pair of art deco houses on the same title in the heart of South Yarra failed to sell together at auction on Saturday, passing in on a single $2 million vendor bid.<\/p>\n Just a five-minute walk from Toorak Road shops, 50 and 52 Lang Street<\/a> are both two-bedroom, one-bathroom layouts with high ceilings and classic art deco features. 50 Lang Street has recently been updated, and includes its own garage, while 52 is ready for renovation, or to be merged into a larger single family home.<\/p>\n The property was one of 913 scheduled to go to auction in Melbourne this week. By Saturday evening, Domain recorded a preliminary auction clearance rate of 57 per cent from 655 reported results throughout the week, while 81 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.<\/p>\n While last week saw the preliminary clearance rate above 60 per cent for the first time since before the May budget, this week saw it fall below that benchmark \u2013 generally considered to indicate a balanced market \u2013 and return to the mid-50s, despite peak Spring auction season.<\/p>\n 50 and 52 Lang Street had a price guide of $2.1 million to $2.3 million, with a $2.3 million reserve.<\/p>\n Marshall White Stonnington agent Jack Fowles said despite passing in on a single vendor bid, \u201can enormous amount\u201d of parties had got in contact after the auction.<\/p>\n \u201cA year ago, buyers would wait until the \u2018halftime break\u2019,\u201d he said, referring to the point at which a bid is taken to a vendor to confirm the property is on the market.<\/p>\n \u201cNow it\u2019s more common for properties to pass in, then you see the interest.\u201d<\/p>\n He thought this left buyers in a more vulnerable, less transparent position, making offers in private rather than competing in an open arena.<\/p>\n Related Article The property has been converted to private treaty and is now listed for $2,225,000.<\/p>\n Fowles thought it would sell by early next week, and likely within the range.<\/p>\n \u201cIt\u2019ll be interesting to see what kind of buyer it goes to,\u201d he said, noting while most had looked at the property as a potential single family home, others saw the opportunity to snatch up a prime South Yarra semi with the option of selling the other or keeping it as an investment.<\/p>\n Records show the property last sold in 2002 for $775,000. The vendors are moving on to their next opportunity, Fowles said.<\/p>\n In Cheltenham, a three-bedroom home with a rare three-car garage sold for $1.19 million in post-auction negotiations, $10,000 below its $1.2 million reserve.<\/p>\n 54 Elliott Street<\/a> was listed in \u201cabsolute mint\u201d original condition, with the garage a major drawcard for prospective buyers. It had a price guide of $1.15 million to $1.2 million.<\/p>\n Ray White The Bayside Group agent and auctioneer Angela Limanis said she had several prospective buyers interested on Friday, with one having inspected five times, but had ended up with just the one couple by Saturday morning.<\/p>\n She opened the auction with a vendor bid of $1.1 million, which was followed by a $1.12 million bid from the couple, at which point it passed in.<\/p>\n The property quickly sold in negotiations for $1.19 million. The couple were first home buyers and had been renting in the area.<\/p>\n Limanis said the garage had been particularly appealing to the couple as the husband is a plumber and was looking forward to having additional storage space.<\/p>\n \u201cThe original owner was a plumber as well,\u201d she said. \u201cI think like attracts like in these situations.\u201d<\/p>\n The home was sold as part of an estate.<\/p>\n In Yarraville, a white 1950s weatherboard home sold to first home buyers at auction after a soaring $110,000 bid met the property\u2019s $1.15 million reserve.<\/p>\n 55 Gent Street<\/a> was originally purchased in 2008 by two friends who at first lived there together, before one headed to Sydney and the other stayed on alone. The three-bedroom house had a price guide of $1.1 million to $1.2 million.<\/p>\n Jas Stephens agent and auctioneer George Alexander opened the auction with a vendor bid of $1 million, countered by a $20,000 bid from the sole genuine bidder to take the price to $1.02 million. After a second vendor bid of $1.04 million, the bidder rocketed the price to $1.15 million on a single bid, bringing the property onto the market and the auction to a close.<\/p>\n Despite a $110,000 bid against the vendor, Alexander said there were \u201cno real surprises\u201d.<\/p>\n![\"50](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/09\/d3ff364c336186363a721438f59040ba21c78b8e.jpeg\")
50 Lang Street\u2019s renovation provides a template for potential purchasers on how to update its neighbour.Marshall White Stonnington<\/p>\n![\"75](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/09\/5c300ddfdff7f085e3ec187c2fc26f70a19baf12.jpeg\")
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The three-car garage was the major drawcard for the home, otherwise in original condition.Ray White The Bayside Group<\/p>\n
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