6 days ago
Jim Malo
Monique wants to buy a house in Melbourne's inner suburbs, but she may have to be quick as the city's property prices are on the march.
Analysis
Victoria residential property
Abundance has captured the attention of economists and politicians alike, but could a simple solution be sitting right under their noses?
The well-loved house attracted bids from four interested buyers, but a bold approach from the winner fended off the competition after fewer than a dozen bids.
Most Melbourne home owners sell up within 10 years, but there are some suburbs where residents stay for decades.
The Victorian was liveable, but had the scope to be extended. Auctioneer Josh Kalender said the home's potential inspired two bidders to compete for the keys.
Victoria residential property
Melbourne's asking rents sit at record highs and some suburbs have recorded annual increases of more than 20 per cent.
An attractive price guide tempted seven bidders to try their luck at auction on Saturday. Agents say the home's liveability, and its location inspired spirited bidding.
Profits for home sellers have increased by hundreds of thousands of dollars in the most popular regional areas over the past five years.
A new report has revealed where buyers can find a home cheaper than the city's median price without compromising on what makes an area liveable.
