7 Peter Street, South Yarra
This property had genuine WOW – designed, built and occupied by an architect. The homes of architects (in which they design) are interesting. Views are considered, natural light is captured and spaces appear larger than what they really are. Quality of build and level of appointment is always high and the house is impressive as a result.

WOW is great, however we rated the property 590/1000 (south facing courtyard, small land content, no bedroom downstairs the negatives).

The auction itself was always going to attract a large crowd, and even in the depths of winter it did that, with around 200 people in attendance.  Auctioneer Richard MacKinnon battled the cold for some time without any bidding, and even referred to the vendor for half-time break. The property passed in on vendor bid of $1.8m , with the reserved believed to be just over $1.9m . This ask is not ridiculous, but as we are seeing more and more lately people are cautious on properties which do not tick all their boxes.

5 Elizabeth Street, Newport
We rated this 787/1000. This property had a lovely feel and was ideal suited to a young family. The prime location (in a cul-de-sac with a park at the end and very close to Newport Railway station, primary schools and shops) was well complimented by a neat, functional period style home. The feel of the house was sensational. In our opinion the quote was always weak and the auction was going to fly, Properties of this ilk are winners and can survive even the toughest of market conditions.  Over 100 groups of people had visited this house during its campaign, which was well conducted by Compton & Green.

The auction itself was fairly predictable. Strong crowd numbers for a cold Melbourne day which was the second weekend of school holidays and in a weakening market. With an opening bid of $580K, five bidders helped to push this along at a consistent level. Auctioneer Adrian Butera finally knocked this down at $740,000, an excellent result for the agent and vendor alike.

This property is a winner. Winners can prevail in tough market times.