On Saturday, a competitive auction in Carlton North saw a home sell for $1,815,000, well above its reserve price. Located at 70 Fenwick Street, the three-bedroom, single-fronted Victorian terrace had been extensively updated over the last 50 years by its owners. Among its standout features were a curved, glass-brick wall at the rear and an additional upper level, adding more space and flexibility. The property, listed by Nelson Alexander agent Charlie Barham, had a quoted price range of $1.55 million to $1.65 million.

The auction opened at the lower end of the quoted range, with four bidders contesting the sale through more than 40 bids, many of which were $10,000 increments. Bidding quickly surpassed the reserve price, set at $1.65 million, and the home eventually sold for $165,000 more than that, finalizing at $1,815,000. The successful buyers were a middle-aged couple intending to move in immediately, according to auctioneer Tom Roberts. He highlighted the appeal of the property’s wider block, which provided extra light and space. “People loved that they could move in right away and enjoy the home without needing to make further updates,” Roberts said.

Despite concerns about the state of the housing market, Barham remarked that the result underscored strong demand for quality family homes in desirable areas. He noted the range of underbidders, which included young professionals, downsizers, and families. “Even with mixed commentary about the market, this sale shows that well-located homes continue to attract significant interest,” Barham added. This auction was part of Nelson Alexander’s Foundation Day, during which agents donated their commission to charity Reach.

Across Melbourne, there were 1,066 auctions scheduled for the day. By the evening, Domain Group reported a preliminary auction clearance rate of 60.2% from 729 reported results, with 80 auctions withdrawn and counted as unsold properties.

In Thornbury, a four-bedroom Edwardian house at 63 Speight Street, extensively renovated with five-meter-high ceilings in the rear, a pool, and a north-facing backyard, did not fare as well. Listed by Jellis Craig agent John Karr, the property had a quoted price range of $3 million to $3.3 million, but it passed in at auction on a vendor bid of $3.05 million. Karr noted that while the home attracted interest throughout the campaign, no buyers were willing to bid on the day, which he attributed to current economic conditions. “A year ago, this property would have seen plenty of interest, but the cost of living is affecting buyers,” Karr said. He plans to switch the listing to an expression-of-interest campaign, keeping the same price range.

In St Kilda East, ARIA award-winning singer Julia Stone sold her renovated investment property post-auction for $925,000. The two-bedroom, two-bathroom unit at 2/85 Westbury Street had been renovated by Stone and rented out since 2022. The art deco unit, located in a small building, was listed by Marshall White agent Matthew Grima with a price guide of $880,000 to $940,000. The auction began with a vendor bid of $890,000, followed by a single $900,000 bid, but the property was passed in. However, the sole bidder increased their offer by $25,000, securing the unit. Grima commented that the private courtyard and Stone’s renovations were key factors that appealed to buyers.

In Frankston North, another strong auction result was achieved for a three-bedroom home at 21 Honeysuckle Street. Featuring modern updates such as double-glazed windows, central heating, and refrigerated cooling, along with a large garage equipped with a vehicle maintenance pit, the property attracted competitive bidding. Listed by O’Brien agent Mark Bourke with a price range of $585,000 to $638,000, the auction started at $590,000 and saw about 40 bids from four buyers. It eventually sold for $674,000, exceeding the reserve price of $620,000 by $54,000.

Bourke mentioned that investor activity had picked up recently, with buyers from Sydney and Brisbane entering the Victorian market. “Even with land taxes being a challenge, we’ve seen a noticeable increase in investor interest—around 20% of buyers now, up from 5%,” he said. While some homes, such as in Thornbury, struggled to meet expectations due to economic conditions, properties in other areas, like Frankston North and Carlton North, managed to exceed their targets, showing that demand remains high for well-located, desirable homes.