Northcote home sold post-auction in Property Tycoon tipping's second week

An enormous crowd of locals came out on Saturday for the auction of 211 Clarke Street, Northcote, which was featured in the second round of Property Tycoon's auction tipping competition.

There's now a website, www.propertytycoon.com.au, where punters can guess five 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. 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 the auction for 211 Clarke Street started, it soon became clear only two parties had come with the clear intention to call the house (pictured below) home.

When the bidding reached $2.2 million, auctioneer Arch Staver took a break to have a chat to his vendors. The vendors believed the property was worth more and so it was put back to the market.

Bidding took off again before stalling at $2.3 million and the house was officially passed in and then sold after auction for an extra $90,000. 

Palm Beach in NSW does not see many auctions, so when the waterfront property at 1173 Barrenjoey Road (pictured below) was nominated to go under the hammer on Saturday it generated a lot of interest. 

McGrath Real Estate agent Gillian McGrath said nine contracts had been requested by interested buyers but late in the campaign it emerged that one buyer was head and shoulders above the rest.

an offer was put to the vendor that was too good to refuse and the property was sold prior to auction. 

The exact sale price is known only to the agent, vendor and purchaser however it is believed to be significantly above the $3 million quote.