We attended the auction of 76 Park Road in Middle Park. The home was a three-bedroom, two-bathroom home on approximately 337 m² of land.
The home last sold as a 4-bedroom in 2023 for $4,025,000, and the current owners completed a significant cosmetic renovation. They actually removed one bedroom upstairs and converted it into a large walk-in robe. The bathrooms, master bedroom, and walk-in robe had all been updated to a Middle Park standard. I believe they would have spent $2000,000-$250,000 on the renovation, plus stamp duty of $250,0000.
That means they were all in for approximately $4,550,000. Three years is rarely a long enough hold period unless you buy at the bottom of a cycle, the market heats up, and you sell in a stronger seller’s market. However, May 2026 is one of the best buying markets that I’ve seen in 18 years.
The auction quote for 76 Park Road in Middle Park was 4 to 4.4 million. There was only one bidder, and the property passed in. It passed in at $4.250 million to a young family with three teenage kids. As we expected, the property was later sold after post-auction negotiations for $4,350,000.
Quality homes, priced well, are still selling. Real Estate Agents are still seemingly advising vendors to go to Auction. I personally feel that in the current environment, our multi-agent market process is a smarter way to sell. This allows you to test the market with highly qualified buyers without incurring $20,000-$30,000 in marketing expenses or running a public auction. You can read about that approach below. Multi Agent Off Market Sales Approach.
76 Park Road in Middle Park suited a professional couple, a family with teenage kids, or downsizers, as it offered a master bedroom separate from the downstairs bedrooms. The house was fairly low-maintenance, and the rear private garden was very appealing to younger kids. The additional touches were the second courtyard and the BBQ area, both perfect for entertaining and close to the kitchen. A couple of fireplaces at the rear of the home would make this a cosy home in the winter months.
The highlight for me in this home was the street and the walkability. You have the ability to walk 350 meters to the Middle Park Beach and Middle Park Village and the stunning Albert Park Lake precinct, all on your doorstep. Plus a tram to the city running along Danks Street. The drawback of this home was the lack of car parking, so if you have luxury cars or prefer to keep your car off the street, as I do, this home wouldn’t suit.
If you wish to learn more about Middle Park, you can read our suburb profile HERE.
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