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flag A Melbourne couple paid $1M for a Spotswood home in a competitive auction, reflecting cautious market conditions.

flag 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. flag The property, near cafés and a train station, was seen as needing renovations but suitable for first-home buyers. flag Melbourne’s auction clearance rate was 70.1% with 23 sales withdrawn. flag A similar home in West Footscray sold for $1.181 million. flag 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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