Melbourne auction tipping competition property sells after auction but Sydney home still on the market

A solid 62% clearance rate for both Melbourne and Sydney means so far so good for the spring selling season.

There’s a website, www.propertytycoon.com.au, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney.

This season Property Observer readers have their own competition, which you can access here. The winner of the overall competition will win $1,000.

When Jellis Craig auctioneer Richard Earl commenced proceedings at 31 Molesworth Street, Kew (pictured below), he was greeted by a small crowd of uncommitted buyers. Although there was a buyer lurking in the crowd, no one was not prepared to place a bid and after three vendor bids the property was passed in at $1.64 million.

As is often the case when a property is passed in a buyer declared their interest after the auction. The property was eventually sold just above the agents’ quoted range for $1,705,000.

This result launched Property Observer’s Title Tattle into first place with almost $7 million in property Last season’s winner MC and Cinnamon round out the top three in Melbourne.

Three registered bidders entered the fray for 28 Holland Street, Chatswood (pictured below), but all failed to match the vendors’ expectations. When the bidding stalled a vendor bid of $1.45 million was placed, and this is where the auction came to a close.

A reserve of $1,475,000 has been set, and agent Peter Chauncy from McGrath Real Estate is confident a sale will be achieved in the coming days.

In Sydney the leading Tycoon Shannon has secured a portfolio worth more than $5 million. Curiost and Joey K are not far behind.