The Sydney Morning Herald
· collected 2026-10-12 · by Elizabeth Redman
A renovated five-bedroom Victorian house in Moonee Ponds, priced at $2.7 million to $2.9 million, sold for $2,817,500 after the vendors reduced their price expectations following an unsuccessful auction attempt. The property features arched windows and hallways, a marble kitchen, and an entertainment deck. With 710 scheduled auctions in Melbourne last week, this home's sale reflects ongoing market challenges, including interest rate rises and cost-of-living pressures that are affecting buyer budgets.
Written locally by qwen2.5:14b on 2026-10-12,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
A Victorian home in Moonee Ponds with an elegant renovation passed in at auction on Saturday and later sold for $2,817,500 after the vendors cut their price hopes.
asserted
vendors → pass → hopes
The five-bedroom house at 58 Vine Street has arched windows and hallway arches, a marble kitchen, a reading nook and an entertaining deck with a barbecue.
asserted
house → have → barbecue
The property was one of 710 scheduled to go to auction in Melbourne last week.
asserted
property → schedule → Melbourne
By Saturday evening, Domain recorded a preliminary auction clearance rate of 58 per cent from 508 reported results throughout the week, while 78 auctions were withdrawn.
asserted
auctions → record → week
Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
asserted
auctions → withdraw → rate
It was the final weekend before new auction rules, starting on October 16, will make it compulsory to publish the vendor’s reserve price a week before auction.
asserted
it → start → auction
The Moonee Ponds house was listed with a price guide of $2.7 million to $2.9 million.
asserted
house → list → million
Proceedings began with a vendor bid of $2.6 million, followed by a genuine bid of $2.62 million.
asserted
Proceedings → begin → million
Two bidders pushed the price in mostly $20,000 increments until it reached $2.78 million.
But after a rise of $10,000, the price stalled at $2.79 million and the home passed in.
asserted
home → push → million
The reserve was $2.85 million but the vendors, who are moving to Queensland, were willing to meet the market.
asserted
who → move → market
McDonald Upton selling agent Georgie Maggs said the home was renovated in the past 12 months, as the vendors had intended to stay.
asserted
vendors → say → months
“The opportunity to get a turnkey home under $3 million in Moonee Ponds is becoming pretty rare these days,” she said.
asserted
she → get → Ponds
“This home would have sold for more in a better market.
asserted
home → sell → market
The buyer bought well but the vendor had an opportunity there, so it was a commercial decision for them.”
asserted
it → buy → them
Maggs said the market was in a transition phase before the new auction rules.
asserted
market → say → rules
She said interest rate rises and the rising cost of living were putting a ceiling on buyer budgets, and she noted the state election due next month.
asserted
she → say → election
“I would describe the market as patchy.
asserted
I → describe → market
I think these turnkey family properties are still performing quite well,” she said.
asserted
she → think → ?
In Yarraville, a converted shopfront home drew three bidders and surpassed its reserve to sell for $1,265,000 at auction.
asserted
home → convert → auction
The three-bedroom home at 55 Ballarat Street has an open-plan living and dining area that leads to a timber deck and lush courtyard.
asserted
that → have → deck
Bidding began at the bottom of the price range and rose at pace to the top of the range, which was also the reserve price, but then it slowed.
asserted
it → begin → range
An owner-occupier moving from regional Victoria who has family in the inner west landed the keys.
asserted
who → move → keys
The underbidder was a family looking to downsize and move to the area, while the third bidder was a first home buyer.
asserted
bidder → look → area
The vendors are downsizing.
asserted
vendors → downsize → ?
Jas Stephens Real Estate selling agent Elise Nemer said the shopfront-style home was “very unique, they don’t come up that often”.
asserted
they → sell → ?
Properties are still selling.
asserted
Properties → sell → ?
We are still having buyers coming through,” she said.
asserted
she → have → ?
In neighbouring Kingsville, a renovated three-bedroom cottage passed in at auction and sold after for $1.34 million.
asserted
cottage → neighbour → million
The three-bedroom house at 124 Chirnside Street had a price guide of $1,275,000 to $1,375,000.
asserted
house → have → 1,375,000
A downsizer made a bid of $1.3 million.
asserted
downsizer → make → million
It was countered with a vendor bid of $1.32 million.
asserted
It → counter → million
But the reserve was $1.34 million and with no more bids forthcoming, the home passed in.
asserted
home → pass → ?
It sold in post-auction negotiations at the reserve price.
asserted
It → sell → price
The vendors had previously lived in the property but had leased it out in recent years.
asserted
vendors → live → years
Village Real Estate selling agent Raymond Abilameh had expected a one-buyer auction, although a mix of downsizers, young professionals and families were interested during the sales campaign.
asserted
mix → sell → campaign
He said homes like this were transacting well, albeit without as many bidders as in the past.
asserted
homes → say → past
“Renovated properties in good locations, they still seem to be transacting well,” he said.
asserted
he → renovate → locations
“The unrenovated stock, that seems to be the stuff that is struggling more.”
asserted
that → seem → ?
The Aporia
