Young couple pay $1.45m for home near Melbourne’s ‘coolest street’
Sydney Morning Herald
by Shona HendleyMarch 2, 2026
AI-Generated Deep Dive Summary
**Young Couple Bags Melbourne's Coolest Street Home for Record $1.45M**
In a competitive auction near Melbourne’s iconic Rossmoyne Street, a renovated three-bedroom home sold for an impressive $1,451,000, exceeding its reserve by $151,000. Situated in Thornbury’s sought-after neighborhood, the property attracted multiple bidders, including a young couple from Sydney who ultimately secured the home. The location’s vibrant community vibe and proximity to High Street, recently hailed as the "coolest street in the world" by Time Out magazine, played a key role in driving the sale price.
**St Albans Breaks Records with 1960s Home Sale**
Meanwhile, in St Albans, a 1960s-era brick-veneer home fetched $910,000 at auction, surpassing its reserve by $140,000. Purchased by three local brothers who plan to renovate and occupy the property, this sale highlights the growing demand for older homes in Melbourne’s outer suburbs. The seller, a woman in aged care who had lived there for over four decades, saw her home sell for nearly double its original estimate.
**Melbourne's Property Market Heating Up**
These record-breaking sales reflect Melbourne’s bustling property market, where limited supply and strong buyer interest are pushing prices upward. Both auctions saw intense competition, with multiple bidders participating and reserves being comfortably exceeded. The trend underscores the city’s appeal as a global real estate hotspot, drawing investors and families alike.
**Why This Matters to the World**
Melbourne’s property market trends offer insights into broader economic shifts, particularly in Australia’s housing sector. The sale of these homes not only highlights the city’s allure but also points to ongoing challenges in balancing supply and demand. For international readers, it underscores the dynamics of global real estate markets, where even smaller suburban properties can command high prices due to strong local interest and limited availability.
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Originally published on Sydney Morning Herald on 3/2/2026