Melbourne auction tipping

There's now a tipping website, www.propertytycoon.com.au, where punters can guess auction five results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.

One of the five Melbourne properties going to auction this week in round five is 14 Airlie Avenue, Prahran, which will be auctioned by Marshall White.

"Finding almost 550 square metres of land in the inner suburbs of Melbourne these days is getting harder," says Mark Armstrong of Property Tycoon. "When it has a beautifully renovated four-bedroom family home sitting on top, well, let's just say that ticks a lot of boxes for many buyers."

He says the property last sold in 2008 for $1.44 million.

"According to Marcus Chiminello from Marshall White, the property has had many inspections, and strong competition is expected," Armstrong says.

"He is quoting $2.3 million to $2.5 million for the property, but comparable sales suggest this kind of property could nudge $3 million."

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