A fully renovated art deco house located at 27 Havelock Street in St Kilda was passed in at auction on Saturday, achieving a final bid of $1,585,000. The property attracted attention during a competitive bidding war between two parties, reflecting the ongoing demand for prime real estate in the area.
The auction took place in a quiet pocket just off the bustling Acland Street, known for its vibrant community and amenities. The home, featuring three bedrooms, an entertainer’s kitchen with skylights, and a private deck, was initially guided at a price range of $1.4 million to $1.5 million.
Auctioneer Michael Hingston kicked off the bidding at $1.4 million, soon prompting the first bidder to make their move. As the auction progressed, a second bidder entered with an offer of $1,425,000. The competition between the two escalated, with bids increasing in increments of $25,000 until they reached the $1.5 million mark. After this point, the bidding slowed, with increments of $10,000, $5,000, and ultimately $2,000.
Hingston aimed to secure a sale at $1.65 million but opted to consult with the vendor following the final bid of $1,585,000. Notably, there is no legal requirement for a vendor’s reserve price to align with the property’s guide price, allowing for some flexibility in negotiations.
The second bidder was subsequently invited to enter negotiations with the vendor, which were ongoing at the time of this report. This auction was part of a larger event in Melbourne, with a total of 814 properties scheduled to be auctioned that week.
Lead agent Katie Ryan remarked that the auction market for 2026 has “started stronger than it finished last year,” indicating a robust interest in real estate despite the fluctuating market conditions. As the property landscape continues to evolve, this auction highlights the dynamics of buyer competition and the allure of well-located homes in sought-after neighborhoods.
