The Aporia · Knockout bid secures first home in the outer north for $760,000

A three-bedroom house in Epping, Melbourne, was sold at auction for $760,000 on Saturday, exceeding its initial reserve price of $680,000 due to competitive bidding from five interested parties. The property, listed between $665,000 and $731,500, features two bathrooms and a four-car garage. Despite the strong interest in this home, another property in Clayton South with a reserve price of $520,000 failed to meet its reserve after receiving only one bid of $480,000 during its auction.

Written by AI on 2026-09-26, from this article's own text only (the story summary below draws on all the coverage).

Story summary

On a recent Saturday, a three-bedroom home in Epping, Melbourne's outer north, was the scene of intense competition during an auction. The property, located at 8 Cerise Avenue, had a price guide of $665,000 to $731,500 and initially set its reserve price at $680,000. However, Areal Property North lead agent Justin Sciola noted that five bidders were fiercely competing for the property from the start.

After an initial bid of $650,000, Sciola advised the vendors to raise their reserve price to $700,000 due to strong interest. The final sale occurred after bidding increments of $10,000 and $15,000, with a couple seeking their first home securing it for $760,000. This transaction underscores the high demand and competitive nature of Melbourne's real estate market.

Written for “Housing Market Prices” on 2026-11-03, grounded in this article and the 0 other(s) covering the same event.

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Economy/Business · 1 article(s) covering the same event.

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Caroline Zielinski

9 article(s) here · 1 carrying a prediction

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🔮 “To be fair, they [the vendors] would have made a decision around the $680,000 mark just to move it on.”

2026-09-26 · assertive framing · Knockout bid secures first home in the outer north for $760,000

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While its initial reserve was $680,000, Areal Property North lead agent Justin Sciola said five bidders were competing so decisively that, after an opening bid of $650,000, he advised the vendors to lift their reserve to $700,000.

framing: assertive · carried by 1 article(s) · first seen 2026-09-26

🔮 “To be fair, they [the vendors] would have made a decision around the $680,000 mark just to move it on.”

2026-09-26 · The Sydney Morning Herald

Knockout bid secures first home in the outer north for $760,000 · assertive framing

A three-bedroom home in Epping, in Melbourne’s outer north, drew such fierce bidding on Saturday that its vendors increased their reserve price during the auction, and sold it for $760,000. asserted

vendors → draw → 760,000

The home at 8 Cerise Avenue, which comes with two bathrooms, a four-car garage and is move-in ready, was listed with a price guide of $665,000 to $731,500. asserted

which → come → 731,500

he → say → 700,000

“I told them to increase the reserve price, so I think we did have the interest above $700,000,” Sciola said. asserted

Sciola → tell → 700,000

“To be fair, they [the vendors] would have made a decision around the $680,000 mark just to move it on.” asserted

they → make → it

After bidding in increments of $10,000 and $15,000, a couple looking for their first home for 15 months, countered a $737,000 offer with a knock-out bid of $760,000. asserted

couple → bid → 760,000

“The underbidder had just sold his house and he was bidding strong, he was bidding in fives [$5000 increments] and then the buyer that bought it … asserted

that → sell → it

they were bidding in winning 10s [$10,000 increments], and they jumped at, you know, 23,000,” he said. asserted

he → bid → 23,000

Sciola said while the market was flooded with a lot of investor stock needing “a lot of property work”, it was not all “doom and gloom”. asserted

it → say → work

“Investors are dumping their stock and trying to capitalise on what they can, but good homes still sell in a great market regardless of the times,” he said. asserted

he → dump → times

The property was one of 182 scheduled to go to auction in Melbourne this week. asserted

property → schedule → Melbourne

In Melbourne’s outer-south east, a renovated two-bedroom unit in Clayton South with a reserve of $520,000 passed in at auction after only one genuine bid. asserted

unit → renovate → bid

The home at 3/13 Oakes Avenue, featuring a fully renovated bathroom and located close to Clayton shopping precinct, had a guide of between $495,000 and $540,000, said Shanky Walia, a lead agent with Ray White Clayton. asserted

Walia → feature → Clayton

Walia said despite there being two interested bidders, only one made a bid with an opening offer of $480,000. asserted

one → say → 480,000

With no counter-offer, Walia said he made a vendor’s bid of $500,000, after which the home passed in. asserted

home → say → which

The sale is now being negotiated with both parties, a downsizer couple who made the single bid, and an investor. asserted

who → negotiate → bid

“Both said they will have a chat with the family and get back to us ... asserted

they → say → us

we will most likely have an increased offer from the downsizer,” Walia said. asserted

Walia → have → downsizer

“They recently sold their property and are taking into consideration that they have to put some money into the home to fix it.” asserted

they → sell → it

Walia said the market had probably slowed this weekend due to the AFL grand final and next week’s predicted interest rate rise. asserted

market → say → final

“Overall, first home buyers are very active, as well as upsizers and family home buyers,” he said. asserted

he → say → ?

Knockout bid secures first home in the outer north for $760,000

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