Young couple pays $1.24m for Yarraville converted shop at auction

The brief

A young couple purchased a converted two-bedroom shop in Yarraville for $1.24 million at auction. The property attracted three bidders and sold $195,000 above its reserve price. The sale occurred in a weak Melbourne auction market. The converted shop is located in Yarraville, a suburb in Melbourne, Australia. The sale price reflects the property's appeal to the couple, who outbid other interested parties. The transaction highlights the ongoing demand for residential properties in the area.