Yarraville house last sold for $1.62 million passes in at auction on $1.405 million bid

Agents said the once-frenzied property market has slowed and buyers are shifting from FOMO (fear of missing out) to FOOP (fear of over-paying) at auctions. auctions

The house, owned by the vendors since being built in the late 1980s, and not updated since, sold under the hammer for $1.46 million.

Not too far away, in Oak Park, two units owned by the same vendor both sold under the hammer, to two different buyers.The second, a three-bedder at, was bought by a first-home buyer for $920,000, above the advertised reserve of $750,000. Ray White Cheltenham director and auctioneer Kevin Chokshi said the buyers, a young couple, paid the highest price in the suburb for a three-bedroom home with no garage.

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