Melbourne auction tipping competition property fetches high price at auction, but Sydney fails to deliver significant competition

The property at 99 Windsor Crescent (pictured below), in the Melbourne suburb of Mont Albert, drew a big crowd at its weekend auction, with the vendor securing a strong result.

It was one of the properties featured on website www.propertytycoon.com.au, where punters can guess auction results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.

“In Melbourne a big crowd turned out to watch the auction of 99 Windsor Crescent, Mont Albert, and it was clear from the very beginning that the opening bidder wanted the property,” says Mark Armstrong of Property Tycoon.

“She stuck with the auction from start to finish before securing the property for $1.46 million, more than $100,000 over the average tip.”

But it was a different story for the Sydney property featured on Property Observer, 77 Annandale Street, Annandale (pictured below).

The property sold for just above its price quote, says Armstrong.

“The property was purchased in 2007 for $870,000 and has had a major renovation.”