From Brisbane to Perth local families fuel red-hot Auction action

Auction activity surged across the capital cities this week, with 2,216 homes going under the hammer, more than a 60 per cent jump on the previous week.

The lift comes after a slowdown in auction numbers during the King's Birthday long weekend, which saw volumes dip. Clearance rates also rebounded, climbing back above 70 per cent.

"The preliminary auction clearance rate bounced back to 70.1 per cent, after dropping to 59.9 per cent the week prior, later revised to 60.7 per cent, due to the long weekend," said Cotality research director, Tim Lawless.

In Brisbane, a light-filled four-bedroom, two-bathroom home attracted the attention of nine registered bidders, eager to call the home their own.

Bidding for the stunning property opened with a $1.2 million bid and from there five of the registered parties took part in the hotly contested auction.

It took a bid of $1.635 million for the successful bidders, a local family, to secure the home at 73 Mawson Street, Stafford Heights, in the city's inner north.

Lead agent Holly Bowden from Ray White Wilston said there was a lot of positivity in the Queensland property market.

"We had more than 100 groups through this house during its campaign," she said.

The vendors, a young couple with a baby, who bought the home in October 2020, before undertaking a major renovation, were thrilled with the result of the auction.

They have moved to Bardon, in Brisbane's inner northwest, where they will undertake their next renovation project.

Brisbane hosted 127 auctions this week and an early clearance rate of 61.4 per cent. At the same time last year, 192 auctions were held with a clearance rate of 67.7 per cent, according to Cotality.

Family home sells after 70 years

In Adelaide, a character-filled bungalow, built in 1926 and owned by the same family for 70 years, has sold at auction for just over $1 million.

The home at 22 Wilton Terrace in Torrensville, just three kilometres west of the CBD, attracted nine registered bidders, while two of them actively participated in Saturday's auction.

The successful bidders secured the home with a bid of $1.002 million.

Listing agent Mark Lands from Lands Real Estate Stepney said the buyers, a young couple, purchased it as an investment.

He said the home was a deceased estate and several family members were there to see the family home sell under the hammer.

"The family was very cool, calm and collected and very happy with the result," he said.

Cotality reported 133 auctions in Adelaide this week, with a preliminary clearance rate of 67.1 per cent, the highest early clearance rate in three weeks.

At the same time last year, Adelaide recorded a clearance rate of 79.1 per cent.

Woman buys home on same street as daughter

In Perth's north, a modern four-bedroom, two-bathroom house has sold at auction for $1.4 million, with three of seven registered bidders competing for the home.

Listing agent Scott Langley from Ray White North Quays said he had sold the home at 1 Angus Court in Duncraig, to the current vendors at auction four years ago.

"They subdivided and have now sold one of the completed properties, so itwas great to have our buyers (now sellers) come back to us and the auction process," he said.

"Our buyer was a lovely lady downsizing and moving closer to family, as one of her daughters actually lives on the street," he said.

Ray White Western Australia CEO Mark Whiteman said the Perth property market continued to perform strongly with good quality properties continuing to attract high numbers of buyers.

"This was highlighted here today...buyers are starved for choice and continue to compete for properties," he said.

Mr Lawless said the number of national capital city auctions is set to reduce next week, with approximately 1,850 currently scheduled and rising to around 1,960 the week after.