A coveted Toorak residence has sold for $6.51 million under the hammer, drawing a crowd of 120 to 65 Irving Road on a mild spring morning.
The single-level home, positioned on a 674 square metre corner allotment with prized northerly orientation, attracted five registered bidders. Two parties went head-to-head in a fierce contest, with an opening offer of $5.5 million quickly accelerating in $100,000 strides. Momentum later slowed to $10,000 bids before vaulting back to $90,000 advances as competition intensified.
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Kay & Burton agent Scott Patterson said the home’s prestigious location and potential drew strong interest. “It is a once-in-a-generation opportunity on one of Toorak’s finest addresses, and buyers recognised the chance to secure both position and scope.”
The vendor, now in his early nineties, purchased the property in 1983 for $284,000. He resides in Singapore, with his daughter representing him at the auction. The successful buyers were local investors seeking to expand their portfolio with a blue-ribbon address.
Nestled among some of Melbourne’s landmark properties, the Irving Road home carries significant promise for a luxury renovation or redevelopment, placing it firmly within the suburb’s elite property narrative despite Toorak’s current median price decline of 18.4 percent and rental yield of 2.6 percent.
Melbourne’s auction market all but paused over the AFL Grand Final long weekend, with volumes plunging eighty-three percent, according to Cotality. Just 230 homes went under the hammer, sending the preliminary clearance rate down to 64.6 percent, its weakest result in twenty-three weeks.
Sun-drenched top-floor beachfront stuns buyers
The panoramic beauty of Coogee’s coastline drew a crowd of 40 to the auction at 9/107 Arden Street in Sydney’s east, where a prized top-floor apartment soared to $2.31 million.
Sixteen hopefuls registered, four of them diving into the action as bidding opened at $1.8 million. Momentum surged early, with strong $50,000 and $25,000 advances pushing the price skyward. As the field whittled to two determined buyers, trading slowed to $5,000 moves in a tense standoff until the hammer fell.
“The strong bidding and high tension reflected the unique position of this apartment,” said Raine & Horne listing agent Paul Langsam. “The buyers were captivated by the ocean views and beautiful aspect, and they pushed hard until the end.”
The winning buyers, enchanted by the outlook, were introduced to the vendor to close out what Langsam described as a textbook auction.
“The apartment’s appeal is undeniable,” said Langsam. “A north-east corner position in a boutique block of nine, with windows on three sides and a full-width balcony with sea breezes and front-row whale watching. It doesn’t get any better.”
Sydney led the auction activity this week, with 1,171 homes taken to the hammer, marking a 28 percent jump from the previous week. This represents the second-highest weekly volume this year, behind only the week before Easter, which saw 1,282 properties auctioned. Early results show a preliminary clearance rate of 73.5 percent, dipping from 77.9 percent the week prior, and later revised to 71.7 percent once final figures were confirmed.
Final $30k bumper bid secures dream home for young couple
A classic double-front family home at 20 Forrest Street, Spotswood in Melbourne’s west, delivered space, character and a winning auction outcome for a young couple ready to stake their roots. Set on a leafy street, the period residence blends lace-trimmed verandah charm, high ceilings and an open fireplace with modern updates and generous room sizes. The open, light-filled kitchen features quality appliances flowing seamlessly into the dining area with direct access to a covered alfresco and rear garden.
Auction day drew a crowd of 50, with six active bidders testing the waters. Bids opened at $780,000, climbing in confident $10,000 increments, but when the number reached $970,000, the eventual winners put down a decisive $30,000 final bid to secure the property at $1 million, leaving competitors silent and stunned. Representing first-home buyers, the couple acted with precision, proving that a blend of period charm, practical layout and perfect location remains irresistible in today’s market.
The volume of auctions stepped down to 1,760 this week, according to Cotality, down 33% as Victorians enjoyed the AFL Grand Final long weekend. The drop in auctions is on par with last year when the volume of auctions dropped 34.0%.
