VIC Northern Suburbs of Melbourne Prices

Hello Guys,

Need some help to try and understand what the reasons you think could be behind the difference in Sold Price of 2 properties I attended to the auction today.

4 Sutherland Street, Hadfield, Vic 3046 https://www.realestate.com.au/property-house-vic-hadfield-138677247
Sold for $1.016M
Price range was 690-740
Big Crowd, initially 5 bidders and then 3 bidders fight for it till the end. Sold 40% above the top of the range, the range was misleading but the price still seems like way too much.

19 Barunah Street, Hadfield, Vic 3046 https://www.realestate.com.au/property-house-vic-hadfield-138645575
Sold for $895k
Price Range was 900-950
Not crowd, 2 bidders only, didn’t bid much at all and sold at the low end of the range (this had never happened on the e many auctions that I have attended since late last year)

Properties are not too far from each other and I do not understand how stuff like this happens. They both need work, but the cheaper one is liveable as it is whilst the more expensive one needs a full (literally full) Reno before you can move in.

Apart from that there are recent sales of fully renovated houses on same size blocks sold last month for 1.1m, so how do you justify paying 1.016m for something that needs to be completely redone.

If you have some time to have a look at the properties in Realestate.com, I Would love to read your thoughts.