South Yarra Victorian terrace sells for $1.53 million

An updated all‑white Victorian terrace at 5 Barry Street in South Yarra, directly opposite Prahran Market, was sold for $1.53 million after post‑auction negotiations, $20,000 below its reserve. The three‑bedroom, north‑facing home featured tiled and hardwood floors, a linear kitchen and a paved rear courtyard. Agent and auctioneer Michael Ebeling of RT Edgar Stonnington said the vendor was “happy to meet the market” and the buyers, a young couple, were “very happy” with the purchase.

Ebeling noted that recent federal changes to negative‑gearing rules for established properties have softened the market. A nearby Richmond weatherboard Victorian also sold, fetching $1.0185 million after a sole bidder negotiated $80,000 below the $1.1 million reserve. Andrew Crotty of BigginScott said the Richmond vendors likewise “met the market”. The sales illustrate ongoing activity in Melbourne’s property market despite broader economic pressures.