July 20, 2026 — 11:19amA freestanding house in Brunswick East sold for $1.69 million on Saturday after passing in at auction without a genuine bid, with the vendor lowering their reserve in negotiations.The three-bedroom weatherboard home at 17 Lanark Street sits minutes from inner-north landmarks Merri Creek, CERES Environment Park and the Brunswick Velodrome, and features its own lush front and rear gardens, and classic hardwood-floored interiors.It had a price guide of $1,575,000 to $1.65 million, with a reserve of $1.7 million.There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.The property was one of 587 scheduled to go to auction in Melbourne last week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 59 per cent from 391 reported results throughout the week, while 48 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.The preliminary clearance rate is likely to be revised lower as more results are collected, leaving the result weaker than the 60 per cent threshold that indicates a balanced market, and suggesting prices are still falling.Jellis Craig Brunswick agent Anthony Monteleone said he went to auction with two registered bidders for the Brunswick East home, but both declined to bid on the day.A $1.6 million vendor bid opened the auction, followed by another at $1.65 million, after which it passed in.“For the age of the home, it was in really, really good condition,” Monteleone said. “Well-maintained, structurally very sound… I actually expected it to sell under the hammer.”He said the property sold to a young couple who had inspected but not registered any intent to bid.He thought the fact it hadn’t sold at auction, but ended up selling comfortably within a day, was a reflection of the state of the market.“Things are just taking a bit longer, and buyers are just a little bit more hesitant at the moment to pull the trigger,” he said.Monteleone said the vendors had bought land in Brunswick East and were in the process of building their next home.Elsewhere, a young family paid $100,000 over reserve, spending $980,000 at auction for a four-bedroom home in Fawkner.The brick-veneer family home at 2 Seacombe Street was listed with a guide of $850,000 to $890,000 and a reserve of $880,000.Selling agent Louis Saba from Harcourts Coburg said the bidding opened at $800,000, and the three active bidders, young couples and young families, went “head-to-head.”“They were all looking to upsize,” said Saba.Bidding rose in $20,000 increments before slowing to $10,000 and $1,000 once it reached $900,000.“A young couple who were the underbidder just missed out by $2,000,” Saba said. Although they were disappointed, he said they were “ready to go and buy something soon.”The new owners wanted to move closer to family who already live in Fawkner and were drawn to the property’s tidiness, said Saba.“The fact that it had four bedrooms and a second living area, plus the fresh coat of paint, was really appealing,” he said.The seller was an investor wanting to “get out of the Melbourne market.”“He isn’t happy with how things are changing and decided it was best to get out,” said Saba. “He is pretty happy with the result.”Meanwhile, in Altona, a two-bedroom villa sold under the hammer for $602,000.The home at 3/15 David Street had a price guide of $550,000 to $600,000 and a reserve of $600,000.Selling agent, Prue McKay from Nelson Alexander, Flemington, said the market had been “unpredictable”.“I honestly didn’t know how today would go, but I was happy in the end,” she said.The villa, which is located at the rear of a block of three, was in a “good position”. “It is close to the Altona shops and not far from the beach either,” she said. “It is ready to move in and has good potential, too. People really love these solid brick homes.”Two active bidders took part in the auction; both were first-home buyers “supported by mum and dad.”Bidding opened at $550,000 and rose in $10,000 increments before dropping to $1,000 and $500 for “the last stretch”.The sellers had been renting the property out.In Broadmeadows, a two-bedroom townhouse sold at auction for $470,000, $20,000 above its reserve.The home at 4/15 Colin Court had a price guide of $410,000 to $451,000. The reserve was $450,000.The selling agent, Omer Koksal from Ray White in Glenroy, said there were four registered bidders, three of whom were active.“Two first-home buyers and one investor took part in the auction, with the other investor never getting an opportunity,” he said.Bidding opened at $400,000 and rose in $10,000 increments up to $450,000, then fell to $5,000 increments.“The successful bidder had been actively looking to buy a property for the last nine months,” said Koksal.The court location and the green space offered by the property’s entertaining deck, along with mature screening trees, were two of the major drawcards for the buyers.“It was well kept,” said Koksal.Although this property sold at auction, Koksal said that only four of his office’s 12 scheduled Saturday auctions sold.“It’s a really tough market,” he said. “Properties under $600,000 are selling out; anything over that isn’t.”PRD’s chief economist, Dr Diaswati Mardiasmo, said this week’s auction clearance rate was “quite a jump compared with last week’s 52 per cent”.“It indicates that buyers are becoming more active in the market and probably want to capitalise on the slightly reduced house prices before the upcoming RBA decision in August,” she said.Mardiasmo said the results also show that “people are coming to terms” with the changes to property tax, which took effect on June 25.“People are making decisions about what is best for them based on this,” she said.More:AuctionsBrunswick EastProperty marketSalesMelbourne house pricesVictoria residential propertyProperty listingsFrom our partners