July 18, 2026 — 4:53pmThree hopeful first home buyers have been edged out by downsizers at the auction of a Brunswick period home.Five bidders competed in front of a large crowd to sign the contract for the three-bedroom weatherboard at 2 Church Street, which sold under the hammer for $1,385,000.The successful bidder, represented by a buyer’s advocate, and the underbidder were downsizers.“They broke some first home buyers’ hearts,” listing agent and auctioneer Mark Verrocchi, of Nelson Alexander Brunswick, said.The reserve for the light-filled Edwardian was $1.35 million, following a campaign with a price guide of $1.25 million to $1.35 million. The property was one of 574 scheduled to go to auction in Melbourne this week.Mark Verrocchi runs proceedings at 2 Church Street.Eddie JimVerrocchi opened the auction with a vendor bid of $1.25 million, and a father representing a first home buyer was the first to respond, entering the contest with a $10,000 increase.Bidding rose in $10,000 increments, and the first home buyers were in contention until $1.36 million, at which point the older bidders had more firepower.“They hung in there, they gave it everything,” Verrocchi said.The home had an atrium-style rear living area, opening to a paved terrace and lawn, with side laneway access.The Brunswick home’s atrium-style rear living area.Eddie Jim“The vendor has great style and ticked a lot of the boxes for people,” Verrocchi said. “All of the rooms are quite large, and the allotment, at 270 square metres, is a very good size for a single-fronted property.”Verrocchi had expected three bidders, but said interest was much broader on auction day because of the home’s spacious floor plan, presentation, potential to renovate and location.The selling agent said that at 270 square metres, the home was a good size for a single-fronted property.Eddie Jim“Brunswick’s a hub of nightlife, restaurants, cafes, amenities, and everything within walking distance,” he said. “You could sell the car and walk straight into town.”In Prahran, the former tenant of an apartment in a low-rise, vintage brick block was beaten to the keys in a four-way contest involving first home buyers.The two-bedder at 2/15 Kelvin Grove sold for $635,000, against a reserve of $620,000. The price guide before the auction was $570,000 to $620,000.The neat apartment, with a balcony and undercover parking, had been updated with new floors and sheer curtains. The 1960s-style pink bathroom was a nod to its retro roots, which younger buyers liked, agent and auctioneer Walter Summons, of Belle Property Armadale, said.The bidding started at $576,000 and increased in amounts of $6000 and $4000, slimming to $2000 and $1000 once the reserve was reached.The winning bidder was supported by her parents, and Summons said she was “a little bit surprised and excited” when the hammer dropped in her favour.The former tenant, who had moved out before the apartment was refreshed and put on the market, was the underbidder.Young buyers liked the retro bathroom.Domain“She was returning from a wedding in New York on a plane, so she sent a friend with instructions to bid on behalf,” Summons said. “After we did a bit of renovation to it, she fell back in love with it, and wanted to buy it.”In Reservoir, a stately weatherboard passed in $50,000 short of its $1.6 million reserve, but two local families are in the hunt.The character-filled, four-bedroom property at 1 Northernhay Street had a quoted range of $1.52 million to $1.59 million, and stalled on a $1.55 million vendor bid.Auctioneer and agent Nick Mylonas, of Fletchers Inner North, took an opening bid of $1.5 million from the crowd and answered with a vendor bid of $1.55 million.With everyone in the crowd silent and playing their cards close to their chest, Mylonas consulted with the vendors before passing in the home at $1.55 million.Mylonas said two families approached him after the auction, weighing up selling their homes in order to buy the Northernhay Street property. He had appraised both their homes during the week, he said.“The good news is they said, ‘We’ll give you a call either tomorrow or Monday; we just need to tie up a couple of loose ends.’ So, I think we’re not far from doing a deal.”Mylonas said transactions in the current market required a “happy marriage” between cautious buyers and vendors with price hopes and expectations.“The homes that are passing in at auction, deals are getting done within a week or two,” he said.More:AuctionsProperty marketProperty investmentProperty pricesHousing slumpMelbourne house pricesProperty listingsFrom our partners