Eighteen minutes at auction nets a $4.8 million sale

The crowd gathered under a dim Sydney sky, to see the grand Federation villa at 405 Glebe Point Road, Glebe go under the hammer.

Festival House was built in c1904, and was used by the Sydney Film Festival as their headquarters some 25 years ago. It had retained original period features and had a beautiful rear renovation to take in the green space set on a deep block of 345sqm which is unusual in such a tight inner city area so close to the Sydney CBD.

Five bidders, mostly families, leaned in early, pushing the opening offer of $3.8 million into a rapid tempo of $50K strides that slowed down to $5K and $10K increments.

Ray White agent Matthew Carvalho described the campaign as "short and sharp". Eighteen minutes was all it took to reach the final sale price of $4,815 million.

A woman from the North Shore held her position edging bids forward until her final offer claimed the keys to a home that carries more than a century of crafted detail in Glebe Point's exclusive harbourside pocket.

For the vendors, empty nesters ready for a country chapter, the result carried a sense of completion. Festival House will begin again under new custodians, and its next era seems poised to shine.

Cotality reports that 1,253 auctions were held in Sydney this week, marking the second-busiest auction week of the year so far. Last week saw 1,186 homes taken to auction, while this time last year, 1,098 auctions were held across the city.

Sydney's preliminary clearance rate came in at 70.8 percent this week, the strongest early result in four weeks. Last week's preliminary clearance rate came in at 70.0 percent, revising down to 64.5 percent on final numbers.

Light rises through a winning moment

Sun pooled across the front courtyard in Melbourne's leafy inner-east as seventy people gathered for an auction that felt buoyant from the first call.

The prestige townhouse at 6 Chatsworth Road, Prahran drew a crowd ready for a contest and three couples stepped forward with intent. Kay and Burton agent Alex Hamer-Taylor described it as "good real estate", and the mood carried that certainty.

Bidding launched at $1.35 million and the early exchanges moved in confident ten thousand lifts as each pair tested the room and one another.

When one couple eased out of the contest, the rhythm softened and the offers tapered to $2k then $1k as the final stretch began. The last two bidders stood almost without moving while the numbers climbed.

Hamer-Taylor called each advance with a steady voice as the price edged toward its final mark. The local couple hoping to upsize, held their line through every pause and claimed the keys at one $1.53 million, which closed a "generous and good-spirited exchange".

The townhouse features bi-fold doors that open to a private terrace which feels like a suspended platform above the neighbourhood.

Two lower level bedrooms create a quiet retreat and the study offers a practical anchor for daily life in a coveted pocket of Prahran.

Melbourne had its third-busiest auction week of the year, with 1,484 homes taken under the hammer this week, according to Cotality, up from 1,388 last week. The preliminary clearance rate slipped to 70.5 percent, down from 72.8 percent last week (revised to 65.9 percent on final numbers).

Investors volley for a polished prize

Clear spring light fell over 52 Boundary Road, East Geelong as the crowd settled in for a compact but confident auction where three interstate investors were registered to bid.

"It was a textbook auction," said Hayeswinckle agent Yan Lin.

The opening bid of $640k set the tone, followed by a swift rally of $20k moves that powered the contest toward the mid six hundreds where the tempo shifted, the increments contracting into measured $5k and $1k nudges.

The home featured a fresh renovation with oak-toned benchtops, soft white finishes and gold accents while the renovated bathroom's arched shower and stone vanity added a quiet sense of luxury.

Timber floors carried light through the living zones and plantation shutters added an elevated touch to a humble home. The real star was the location and size of the property, sitting on an expansive 747m2 block close to Eastern beach and the Geelong Botanic Gardens.

As the figures edged north, one phone bidder from Queensland held steady until the final rise sealed the deal at $755k.

The vendor, also an investor who had secured the property eight years earlier for $405k, passed the keys with a sense of closure and a tidy profit.