Melbourne auction tipping: Perfect family home in Malvern East

A perfect family home in Malvern East will test the market this weekend, as its agent is not keen to suggest a quote for it. 

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.

The idea of an auction is to let the market determine the value of the property. In its purest form the agent should not provide a quote because that potentially sets a limit on what the property is worth.

This is the difficulty Rae Tomlinson from Marshall White has with 67 Coppin Street, Malvern East (pictured below). When asked what the quote is Ray has indicated interest is around $2.5 million but is very quick to point out this is not a quote. The truth is she does not really know where the market will take it.

This property is the perfect family home. It is located in the prestigious Gascoigne Estate and will be in very strong demand. What it is worth will be determined at 10.30am on Saturday.