August 8, 2026 — 1:54pmA Brunswick semi in an industrial zone sold for $917,500 on Saturday, with five bidders rocketing the price more than $110,000 over its $800,000 advertised reserve.The two-bedroom house at 29 Talbot Street is bordered on two sides by the soaring walls of a neighbouring tile factory, which buffet it from street noise and provide a vine-covered backdrop.Partially renovated, with updated bathroom and kitchen, and plush new carpet, the home was initially listed with a guide of $700,000 to $770,000, before being updated to advertise its $800,000 reserve in the final two weeks of the campaign.Jellis Craig Northern agent Moe Sayyah said more than 50 groups inspected at the first open and many noticed the price was “cheap for the area”.After building inspections revealed some work was likely, the vendor agreed to advertise the reserve “to be transparent and attract the right buyers”. As the house is in an industrial zone, commercial loan conditions may also apply, requiring a 20 per cent deposit.Auctioneer Adrian Petrucelli looks across the crowd as five keen bidders push 29 Talbot Street more than $110,000 above its $800,000 advertised reserve.Simon SchluterThe auction opened with what auctioneer Adrian Petrucelli called a “cheeky” $650,000 bid, quickly countered with a $750,000 vendor bid.From there, five active bidders traded bids of $10,000, $5000 and eventually $2500, with a young first home buyer couple winning the day, nudging out another couple who were pushed above their budget.Petrucelli said the advertised reserve had helped let buyers know “what would buy it”.Sayyah thought it showed the Victorian government’s proposed changes to auction laws, which would require vendors to advertise their reserve seven days before auction day from October 1, would “have a positive impact” on the market.The vendors were investors. The property last sold in 2002 for $224,000.The property was bordered on two sides by soaring, vine-covered factory walls.Simon SchluterThe property was one of 696 scheduled to go to auction in Melbourne this week.In Footscray, an updated single-fronted Victorian house sold for $817,500 in post-auction negotiations, after passing in on a single genuine bid.A short walk from Barkly Street, Footscray station, and Footscray Market, 26 Fitzroy Street features a stylishly renovated interior, with new bathroom and kitchen, while maintaining a classic Victorian weatherboard front and paved rear courtyard.The two-bedroom property had a price guide of $800,000 to $825,000, which Loutakis agent and auctioneer Michael Loutakis said had been revised up from $700,000 to $770,000 after considerable interest early in the campaign. It had a reserve of $835,000.There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.Loutakis opened bidding at $800,000, and a young couple made the first and only bid before the property passed in and sold to them in negotiations.Loutakis said there was “a bit of emotion” when the vendors and buyers met post-auction, as the vendors had bought the house as their first home and were handing it over to a young couple who were after their first home.The contemporary kitchen was one of the featured updates to the home.Loutakis Real EstateThere was another interested party who chose to hold off doing their due diligence – such as building or pest inspections – before the auction, Loutakis said, in the hope the property would pass in, and they could make a conditional offer after the fact.“We’re seeing it a lot,” the agent said. “People are not willing to spend money … but we went into the auction knowing that. The people who bought it made it happen.”In Kensington, a contemporary townhouse sold for $943,000 after it was nudged $3000 over its reserve by two competitive bidders.The red brick and render property at 38 Cornish Lane features three bedrooms, and an open living and dining area split over two levels, with an additional large attic space and rear courtyard. It had a price guide of $900,000 to $950,000, and a reserve of $940,000.Nelson Alexander Flemington agent and auctioneer Jayson Watts said bidding opened at $900,000. From there, two active bidders pushed the price up in quick increments until it hit $940,000, at which point Watts went inside to consult the vendors to make sure the property was on the market. He returned to the street to get an “extra $3000” before it sold.Watts said the buyers were a young couple moving into the area, and the vendors were moving “around the corner” to a larger home as they wanted to stay in the area.“There’s a lot of ego about what people think their home is worth,” Watts said. “But vendors who understand there’s been a correction in the marketplace and price accordingly are having comfortable campaigns, and selling well.”More:AuctionsProperty investmentProperty marketProperty pricesAffordable housingMelbourne house pricesFirst home buyersProperty downsizingProperty upsizingHousing affordabilityKensingtonFootscrayProperty listingsFrom our partners