Strathdale and Flora Hill homes pass in as reserves exceed final bids

Three homes listed in Strathdale and Flora Hill passed in at auctions held between 20 June and 5 July after the highest bids fell $35,000 to $65,000 below reserves.

The results come as Victoria’s median house price sits near $490,000 and national new-home starts recorded an 11 per cent decline in the latest quarterly figures. Local agents report that remote workers and Melbourne commuters who once drove demand in these suburbs are now pausing, citing uncertainty over interest-rate timing and slower construction pipelines.

Properties and locations involved

One four-bedroom weatherboard on Dundas Street in Strathdale attracted a top bid of $685,000 before passing in. A weatherboard cottage two streets from Rosalind Park in the city centre also failed to meet its $720,000 reserve. In Flora Hill, a 1970s brick home on Myers Street drew interest from first-home buyers but closed at $495,000, short of the $550,000 mark set by the vendor.

Both suburbs sit within the catchment of the Bendigo Regional Institute of TAFE and are popular with staff at the Bendigo Art Gallery, whose redevelopment program has drawn additional arts-sector workers into the area over the past two years.

Market data and next steps

Auction clearance rates across Greater Bendigo have hovered around 48 per cent for the June-July period, according to aggregated results from four local agencies. That figure sits below the 62 per cent recorded in the same weeks last year. Vendors who passed in have been advised to adjust expectations or consider expressions-of-interest campaigns ahead of the next scheduled auction round on 19 July.

Buyers tracking these listings are being urged to inspect comparable sales on Myers Street and Dundas Street recorded in May before making offers on the passed-in stock now returning to the market.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.