The sun spilled across the courtyard as a crowd of 50 gathered to watch an architectural icon change hands. The striking brutalist residence at 1/76 Molesworth Street, Kew in Melbourne’s inner-east, drew two determined bidders into a drawn-out contest that felt as calculated as it was tense.
Bidding opened at $2.3m and climbed in alternating bursts of $20k and $5k. It was a slow burn, with the underbidder holding back until the second call before each of his moves. Marshall White agent Robert Le said it felt like a deliberate play to test his rival’s patience.
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“It was a long process, with the two bidders throwing 20’s and 5’s back and forth,” Le said. “The underbidder waited every time, but the strategy didn’t work in the end.”
The hammer finally fell at $2.66m, with the winner outlasting their competition in a contest that stretched far longer than most Saturday auctions. The vendor, an elderly local gentleman who had lived in the home for 21 years, is downsizing.
Melbourne led the capitals with 1,168 homes taken to auction, according to Cotality, a 6.5 percent dip from the 1,248 recorded the previous week. The preliminary clearance rate reached 74.4 percent, the strongest result in four weeks, though still short of the spring peak of 78.6 percent set in the week ending September 21.
Twelve minutes and $1.73m gets young couple their first home
The late-morning sun lit up 89 George Street , Elskinville as the crowd gathered around the Victorian terrace A quiet hum of anticipation set the tone for what would be a quick, confident auction.
Bidding opened at $1.4m and built steadily in $20k lifts to $1.6m before sliding into $10k and $5k increments as the tempo sharpened. The third bidder peeled away at $1.67m, leaving two to edge toward the finish. Twelve minutes after it began, the hammer came down at $1.73m.
Ray White agent Shaun Stoker said the exchange was smooth and fast, with clear intent from all three bidders. “The bidding didn’t stall, it just tightened up at the end,” Stoker said.
The winning buyers, a young couple renting nearby, are stepping into home ownership with their first purchase. Its position, charm and low-maintenance appeal gave the young buyers exactly what they were chasing: a lifestyle upgrade with community at its heart while the vendor listened in on the phone from Perth.
Sydney hosted 1,082 auctions this week, a 9.5 percent lift on the previous week and the second busiest of the spring campaign. Cotality says it marks only the fourth time this year the city has topped the 1,000-auction mark. The preliminary clearance rate held firm at 74.5 percent, the highest in five weeks.
Generations end, new story begins as 1969 classic starts new chapter
The sale of 276 Autumn Street, Manifold Heights, marked the end of an era and the beginning of a new story near Geelong West. Offered for the first time in decades, the deceased estate attracted a crowd of 40 locals, neighbours and tradies, all keen to see what might become of the beloved mid-century home.
The first of three bidders kicked things off at $700k, sparking a steady run of $10k rises between two hopeful owner-occupiers. Two pauses later, the hammer fell at $890k. “It was a fantastic turnout and a really engaged crowd,” said Belle Property agent Maree Corda. “There were three active bidders and a lot of curiosity about how this property could be transformed.”
The winning bidders were a newly engaged local couple returning to Geelong to take on their first renovation project. The home had been held by the same family since 1969, its original features still intact, from textured gold glass and warm timber panelling to the statement fireplace and bubblegum pink bathroom.
“It’s rare to find a home like this in such an incredible location,” said Corda. “There’s huge potential here, and buyers recognise how special Manifold Heights is.”
As the crowd lingered in the sunshine, the classic home stood quietly on its elevated block, ready to welcome its next chapter.
