Mark Armstrong is a director of ratemyagent.com.au, Australia's number one real estate agent rating website.

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Mark Armstrong

29 November 2012

Auction tipping: Blue-chip locations for Melbourne and Sydney properties

Auction tipping: Blue-chip locations for Melbourne and Sydney properties

Around $6 million is up for grabs in both Melbourne and Sydney so a good week of tipping could propel you up the leaderboard in this week’s auction tipping competition.

There’s a website, www.propertytycoon.com.au, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season Property Observer readers have their own competition, which you can access here. The winner of the overall competition will win $1,000.

Elevated in a block of only six in a blue-chip location, it appears 1/69 Morang Road, Hawthorn, ticks a lot of boxes for investors and first-home buyers. For this reason the property has attracted good interest during the campaign, with more than 1,800 buyers checking it out online.

It has been refurbished in recent years and is just a short walk to train, tram, shops and cafés. Tim Picken from Kay & Burton will auction the property on Saturday and expects bidding in the low to mid-$500,000 range.

Annika Robins from McGrath Real Estate in Neutral Bay has an 1890s workers cottage at 16 Chuter Street, McMahons Point, up for grabs. The four-bedroom house only sits on 271 square metres of land but is deceptively large.

It is located in an ultra-convenient position, just a short stroll to ferries, buses, trains and cafes. The property last came onto the market 14 years ago, when it fetched $562,000. It has been renovated since this sale and is expected to sell above $1.75 milion this time around.

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