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A Melbourne couple paid $1M for a Spotswood home in a competitive auction, reflecting cautious market conditions.
A young couple paid $1 million for a three-bedroom home in Spotswood, Melbourne, in a competitive auction with seven bidders, surpassing a $850,000 reserve.
The property, near cafés and a train station, was seen as needing renovations but suitable for first-home buyers.
Melbourne’s auction clearance rate was 70.1% with 23 sales withdrawn.
A similar home in West Footscray sold for $1.181 million.
Market activity remains cautious, influenced by seasonal trends and expectations of a rate cut, though an upcoming increase in the first-home buyer grant may boost interest.
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Una pareja de Melbourne pagó $1 millón por una casa de Spotswood en una subasta competitiva, lo que refleja las condiciones cautelosas del mercado.