Historic shop top elevates auction showdown

The backyard of 414 King Street, was a theatre of heat and high stakes. Forty onlookers packed into the narrow strip of shade as the hammer came down on one of Newtown's most coveted mixed-use properties.

Bidding opened at $2.1m and erupted in a volley of $50k and $20k jumps before tightening to $10k increments in the closing tussle between two parties. Under a relentless sun, the battle climaxed at $2.59m, with one lucky new homeowner claiming the prize.

"It was a strong auction with serious commitment from both parties," said Philipp Tsiprin of The Agency. "They realised it was a rare opportunity to enter one of Sydney's most iconic strips."

Behind the action stands a layered property, brimming with flexibility and character. The double-fronted building includes a street-level shopfront and two residences with dual access from King Street and Smith Lane. A vegan patisserie currently occupies the retail space, while both residential units bring in secure rental income with tenants eager to stay. Together, the spaces create a compelling canvas for investors, owner-occupiers or those with bold redevelopment ambitions.

The vendor, after 13 years of ownership, will now enjoy the fruits of the decisive sale. "This is the kind of property that doesn't come up often," Tsiprin says. "The location speaks for itself, and the buyers knew exactly what they wanted."

Sydney hosted 1,003 auctions this week, climbing from 511 during the Labour Day long weekend. Early results from Cotality show a 73.9 percent preliminary clearance rate, rising from 72.4 percent last week (later revised to 68.3 percent once finalised).

Late-nineties clinker more than doubles its value for ecstatic vendor

A late-nineties clinker brick residence with leafy courtyard allure drew a lively crowd at 3/12 Hirst Street, Blackburn. Two bidders went toe-to-toe after the auction opened at $800k. Bidding surged to $855k, then powered to $920k, where the hammer fell to a second home buyer who, as Tim Heavyside put it, "fell in love with the home's charm."

The vendor, who purchased the Melbourne home in 2008 for $440k, was awestruck at the intense level of competition for the place they called home for the past 17 years. "It raced away once the first bid landed," Heavyside said.

Tucked quietly at the rear of a small complex, the home blends warmth and ease. Timber floors frame a north-facing living zone anchored by a wood fireplace. Double glass doors spill out to a private courtyard with gas connection, ideal for outdoor dining. A sleek kitchen fitted with Smeg and Miele appliances offers tranquil views of surrounding greenery.

Both bedrooms feature plush carpet and built-in robes, with a modern bathroom in between. Further features include a separate laundry with outdoor access, split system heating and cooling, gas hot water and a single garage with additional parking.

Melbourne led the national auction scene this week, according to Cotality, with 1,254 homes under the hammer, up from 1,164 the week prior. The preliminary clearance rate climbed to 73.5 percent, the strongest result in three weeks.

Four bidders contest prime Victoria home

The sun shone on a lively crowd of 50 as four buyers circled 3 Mortlake Road, Warrnambool, a home that marries space, style and family living. Set on 1500sqm with multiple outdoor entertaining areas, a north-facing yard and direct access to the Russells Creek walking track, the property had all eyes on it from the start.

Jamie Bamford of Ray White, said the room was electric. "Four bidders battled it out, with the crowd 'oohing and aahing' at every advance," he recalled.

With momentum rising, bidding suddenly paused at $670k before an interstate buyer, ready to relocate, seized the opportunity with a $678k bid that dropped the hammer. The result rewarded the vendor, who had long held the family home, with a standout outcome in Warrnambool's competitive market.

Bamford noted the auction highlighted the appeal of homes combining space, location and lifestyle. "Interest was strong, and the engagement from buyers reflected the market's confidence," he said.

The sale reflects both the property's generous scale and the appeal of Warrnambool's family-friendly streets, proving that when space, location and lifestyle align, competition is inevitable.