Weekend auction tipping

A Prahran property going to auction this weekend will test the market for solid family homes, says Mark Armstrong of Property Tycoon.

"24 Alfred St Prahran is a property that in theory should be in strong demand. It is in a great location, has a strong facade and is in comfortable living condition with scope to improve it," Armstrong says.

But with auction clearances in Melbourne under 60% for many months, this property will be a test of the market. 

"Traditionally this type of property is highly sought after by investors and early home buyers, who have both been thin on the ground in 2011. The result for 24 Alfred St Prahran will be a good test to see how well this sector of the market is holding up," Armstrong says.

24 Alfred Street, Prahran, VIC, 3181

Agent: Bennison MacKinnon agent Nathan Waterson

Quote: $780,000 to $850,000

Last Sold: May 2005

Price: $551,000

Suburb median: $950,000

Five-year median growth: 10.9%

If you think you know what it will sell for place a tip at Property Tycoon.