A Niddrie family is selling their four-bedroom home before Victoria’s proposed auction rule changes, which experts warn could reshape how sellers chase top dollar. Picture: Brendan Beckett
Michael and Jackie Piccolo are taking their Niddrie family home to auction as Victoria’s property market braces for a wave of changes that could reshape how sellers set their expectations.
But the couple, who are selling 40 Shaw St with their children Mia and Cristian, say the looming reforms are not the reason they are moving on.
Jackie said the family had been looking for their next property for about five years and had decided it was time to change their lifestyle.
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“To be totally honest, it doesn’t bother us,” she said.
“We’ve been looking for a property for five years, just to change things up a bit.”
Michael said the family’s next move was about space, with the couple trading the luxury of their modern townhouse for an older home on more land.
“We’re getting ourselves a bigger piece of land now with a modest 50s home, that we’re hoping to tidy up,” he said.
The 40 Shaw St home has a $1.4m-$1.54m price guide and is expected to test buyer appetite before proposed reserve price disclosure rules begin.
“And just have some space for the kids at the back and a big shed for me to park my toys in.”
The couple said they were not concerned about selling before proposed reserve price disclosure laws, which would require vendors to publish their reserve at least seven days before auction.
Jackie said experienced buyers understood auctions could move in either direction.
“Everyone else sort of understands that at auction, things will go anywhere,” she said.
“Whatever the listed price may be, it might go under, over or anything could happen.”
The vendors are taking their Niddrie family home to auction before incoming property reforms put fresh focus on reserve prices, sold results and buyer transparency. Picture: Brendan Beckett
The upstairs study gives the Niddrie home extra flexibility for families juggling work, school and space, a key drawcard in Melbourne’s competitive family market.
But she said setting a reserve was still something that depended on campaign feedback.
“It’s all based on the feedback we get through the campaign,” she said.
“If we find there’s not much interest, we’ll have to reassess, and same goes if there’s lots of interest.”
The four-bedroom, two-bathroom home has a $1.4m-$1.54m guide and was designed by the family as a move-in ready entertainer.
Michael said its biggest appeal was the way the home flowed from inside to the alfresco area.
“It’s definitely a move-in ready entertainer,” he said.
The family’s auction campaign comes as agents warn new Victorian property rules could make sellers rethink whether to go under the hammer. Picture: Brendan Beckett
The kitchen features stone benchtops, Siemens appliances and a butler’s pantry, helping position the Niddrie home as a polished family upgrade before auction.
“You can entertain from inside, but then you can even walk out to the alfresco and the outdoor area, and there’s another area there. It just flows.”
Jackie said the home had been built for family life, with generous bedrooms, an upstairs retreat and enough space for the children.
“We designed it ourselves,” she said.
“We thought of all of the key features that we would want in a home.”
Michael said the hardest part would be leaving behind the luxuries they had built into it, including slab heating, electric blinds, the outdoor entertaining area and the kitchen.
“The biggest thing for us would be going from the luxuries we have here to a modest 50s, smaller home,” he said.
“But we’ll enjoy the outdoors a bit more.”
Their home heads to auction May 9.
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