The Fitzroy home of singer-songwriter Felix Riebl, a four-level townhouse just off Brunswick Street, has fetched $1.157 million at a weekend auction.

Nelson Alexander Fitzroy auctioneer Arch Staver announced the property on the market at $990,000 after a $900,000 opening vendor bid.

Riebl, who performed in Spain on the weekend while touring Europe, at the Clownia Festival in Catalonia, had paid $615,000 for his first home, a modern home at 327 Young Street, in 2005 shortly after The Cat Empire’s second album Two Shoes debuted at No.1 on the ARIA albums chart. 

The auction result on the rental property came after competition between four bidders, according to The Herald Sun. 

He is now looking for a family home, Mr Staver said.

The agency had quoted a $900,000 to $990,000 buyers’ guide.

Riebl performs on stage at O2 Academy Leeds in early 2016. Photo: Getty

The singer got $1.157 million for this townhouse, well above the original $615,000 he paid. Photo: Nelson Alexander

The building is minutes from Melbourne’s fashionable Brunswick Street. Photo: Nelson Alexander

An added bonus is no body corporate fees. Photo: Nelson Alexander

The spacious apartment has three double bedrooms. Photo: Nelson Alexander

The new owners will enjoy stunning city views. Photo: Nelson Alexander

Melbourne’s top reported result was nearby when a four-bedroom renovated home in Northcote fetched $2.42 million, after being declared on the market at $2.35 million.

The 77 Roberts Street offering was marketed by Jellis Craig as “boasting architect-designed interiors.”

The buyers’ guidance had been $2.2 million.

Last traded at $550,000 in 2005, three buyers competed for the offering that sits within the Northcote High zone.

It may look modest from the outside, but this Melbourne home went for $2.42 million. Photo: Nelson Alexander

Looks can be deceiving. It’s anything but modest inside. Photo: Nelson Alexander

Plenty of room for a large family to play in the backyard. Photo: Nelson Alexander

All the modern conveniences. Photo: Nelson Alexander

And four large bedrooms. Photo: Nelson Alexander

The nation’s weekend’s cheapest sale was $351,000 in a pre-auction sale at West Footscray, according to Domain.

The price guidance on the two-bedroom unit at 3/705 Barkly Street, listed through Galldon Real Estate, had been $315,000 to $346,000.

It had been advertised as a $290-a-week rental in 2016. It sold for $300,000 in 2010 when offered as a $280-a-week rental.

The last week of June saw fewer homes taken to auction, as the vendor hibernation continues.

CoreLogic calculated 1669 auctions held across the combined capital cities, down from the 1849 held over the week prior.

The preliminary clearance rate sat nationally at 56.7 per cent.

The year-to-date average of 60.5 per cent was a “very different result to the first half of 2017,” CoreLogic auction analyst Kevin Brogan said.

There had been a 72.5 per cent success rate over the corresponding six-month period last year.

“The 2018 auction market so far has demonstrated the weakening property market, with the success rate of auctions continuing to fall through the first half of the year; returning the lowest weekly clearance rates seen since 2012 as property values decline in turn,” he said.

The unit market over the first six months of 2018 sat at 65.1 per cent; maintaining strength over the dearer detached house market, where an average of 59.5 per cent of houses were sold in the past six months.

There were 795 Melbourne homes taken to auction this week, returning a preliminary auction clearance rate of 60.3 per cent.

Sydney’s preliminary clearance rate was 56.4 per cent with 631 auctions held. 

Canberra was the best performing in terms of clearance rate with 65.6 per cent of auctions successful, while only 25 per cent of auctions cleared across Perth.

The top national result under the hammer was an 1880s Paddington terrace that fetched $4.35 million.

Located at 244 Moore Park Road, the five-bedroom home had undergone a “luxurious renovation” since being sold in 2010 at $1,815,000.

Council records show a $500,000-plus renovation was approved in 2013.

The Phillips Pantzer Donnelley selling agent Catherine Dixon had offered a $4 million buyers’ guide.

There was a pool on the 278-square-metre block.

Jonathan Chancellor is editor at large at Property Observer