Melbourne real estate auction blog: Livestreams and rolling updates from around the city

Victoria has reached the peak of its spring market with more people set to make a purchase or sale in the next eight days than any other time of the year. See the home’s we’re watching.

Victoria has reached the peak of its spring market with more people set to make a purchase or sale in the next eight days than any other time of the year.

PropTrack figures show there will be 1211 Victorian homes going under the hammer this week.

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By the final weekend of October that number will surge to 1911, the biggest week of the year and likely the busiest since December 2021 when lockdowns earlier in the year compressed sales into a 2000-home pre-Christmas rush.

PropTrack economist Anne Flaherty said with private treaty sales typically tracking the auction market at a higher volume, the coming eight days were likely to be the best in the year for Victorian homebuyers.

“We are at the peak of the market,” Ms Flaherty said.

“And there’s no question that Melbourne is a buyer’s market right now.

“Conditions are not as competitive as they were earlier in the year, and buyers don’t have to worry about prices running away of them.

Traditionally the weekend ahead of the Melbourne Cup’s pseudo long weekend is Melbourne’s busiest for auctions in any year, but with large numbers of investors selling homes in response to land tax changes implemented earlier this year, the numbers are particularly high this spring.

However, the economist noted that buyers would still have extensive options in November, with strong sales expected to continue until close to Christmas this year.

Reservoir will be the auction capital of the nation this week, with 27 homes testing the market.

14A Milfay Ave, Moonee Ponds is heading under the hammer, and was the most-viewed home going to auction on Realestate.com.au this week.

Doncaster East is next with 21, followed by Glen Waverley at 20.

But a former Moonee Ponds garage converted into a warehouse-style home that’s been mistaken for former stables has had the eye of property pundits around the country, becoming the third most-viewed address going under the hammer this week Australia wide.

Nelson Alexander’s Ryan Currie said despite it’s timeless look, the 14A Milfay Ave home had been built in the 1990s and used as a garage for a previous owner’s car collection, but its conversion into a home had led to it being visited by more than 100 curious parties — and viewed online thousands of times.

A bar in the downstairs living area, and triangular bedrooms in the wedge-shaped residence have had buyers talking, while Mr Currie said a number had been forced to double back after missing a compact bathroom that has been described like “something out of a campervan”.

Inside the property at 14A Milfay Ave, which has an $800k-$850k price guide.

First-home buyers are expected to compete for the $800,000-$850,000 home, which goes under the hammer at just over half of the suburb’s $1.56m median house price at 10.30am.

It’s about half an hour after the main residence at 14 Milfay Ave tests the market with a $1.2m-$1.3m asking price via the same agent.

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Originally published as Melbourne real estate auction blog: Livestreams and rolling updates from around the city