Weekend auction tipping

This weekend's auction of 52 Berry Street, East Melbourne should be one to watch, says Mark Armstrong of Property Tycoon. He says with a fantastic location and a good floor plan it should fetch a high price, but with the uncertain market at the moment there are no guarantees.

"Locations do not get much better than 52 Berry Street, East Melbourne, as it is on the doorstep of the MCG, Bridge Road Richmond and a brief walk to the city," Armstrong says. " The property has open entertaining spaces on the ground floor in addition to three bedrooms and a large study on the upper floors. It is well suited to the executive couple with no children or downsizes who are looking for a lifestyle change."

He points to recent strong sales in the area but says 52 Berry Street might not achieve the same results as the auction season winds down for the year.

"The last comparable sale at 9 Berry Street sold for $3.3 million last month but with buyers thin on the ground as we approach the end of the spring selling season there is no guarantee this one will reach the same level," Armstrong says.

Agent: RT Edgar agent Jeremy Fox

Quote: $3 million plus

Last Sold: November 1997

Sale price: $920,000

Suburb median: $1,641,000

Five-year median growth: 4.77%

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