How six bidders got sixfold return for investors

Six bidders registered at 3/58 East Terrace, Kensington Gardens with four stepping forward as the auction opened at $550,000 in front of about 30 groups in Adelaide's inner-east. Early bidding moved in $20,000 and $10,000 increments before one bold $170,000 jump abruptly reset the tempo and pushed the contest into a new bracket. From there the field tightened, with a first-home buyer ultimately securing the two-bedroom residence for $822,000, handing the vendors, who purchased the property in 2003 for $175,000, a nearly sixfold return.

Ray White agent Andrew Downing said demand for well-located units remains intense across Adelaide's eastern suburbs. "Up to the $900,000 mark apartments are very attractive to buyers who can't afford houses." He said competition is also being fuelled by interstate capital "pushing the market up."

Downing said the ongoing shortage of listings continues to underpin price growth. "Supply is not showing signs of improving. People won't sell until they buy another property first."

In this tightly held group of four homes, the combination of low-maintenance living and an eastern suburbs address proved enough to draw both local buyers and investors, even as affordability pressures reshape how Adelaide buyers approach the market.

Adelaide recorded 108 auctions this week, a 19 per cent fall on the volume of auctions a week ago. At 81.0 per cent, the preliminary clearance rate was by far the highest of any capital, up from 75.9 per cent the week prior, according to Cotality.

"Activity across the middle price brackets remains intense."

Five bidders stepped forward when 77/139 Pring Street went under the hammer in Brisbane's Hendra, opening the contest at $900,000 before a rapid run of $50,000 and $25,000 bids carried the price past $1.1 million, where the property was declared on the market.

From there the pace tightened. Buyers shifted to more measured $10,000 and $1,000 increments as the contest narrowed, before the hammer fell at $1.235 million.

Coronis agent Oliver Jonker said the result set a new benchmark for the gated Tea Tree Grove estate. "The last property that sold in this estate achieved $1.025 million. This one reached $1.235 million."

The winning buyer, a single downsizer who had only inspected the property days earlier, moved decisively once bidding entered its final stages.

For the vendor, who purchased the townhouse in 2018 for $557,250 and is now upsizing, the sale more than doubled their original outlay.

Jonker said activity across Brisbane's middle price brackets remains intense. "The sub-$1 million market is firing right now with lots of interest. Apartments between $800,000 and $1 million are getting swooped up by first-home buyers and it's very competitive."

At higher price points, conditions are more selective. "Things start to dry up at the $2 million-plus mark, but if it's turnkey it will sell. The $2.5 million to $4.5 million range is the sticky end of the market."

A total of 123 auctions were held in Brisbane, a 30 per cent drop in activity compared to the previous week, according to Cotality. So far, 72.1 per cent of auctions have reported a successful result, down from 74.8 per cent the week prior.

What's causing FOMO in WA?

The sale of 21 Kanji Loop, Atwell highlighted the speed at which well-presented homes are being snapped up in Perth, with a local investor securing the property for $1.075 million after three offers were submitted.

The four-bedroom home attracted solid attention during the campaign. "In lieu of going under the hammer, the vendors agreed to present all offers with no price marketing," The Agency listing agent Nicola Stacy said. "It was a good strategy where limited listings are pushing buyers to act quickly whenever a new property becomes available.'

Set close to local parkland and within walking distance of both Harmony Primary School and Atwell College, the home offered multiple living zones, a separate games room and a family-friendly layout designed for flexible living.

Stacy said the campaign reflected a broader issue across the local market. "There's a real stock shortage driving the market and perpetuating growth at the moment. The shortage is creating pressure for buyers who feel they must move fast to secure a home."

She said It becomes a case of FOMO that's causing urgency in the market. "They have a sense of, 'If I don't buy now, I'll be pushed out of the market.'"

That urgency, she said, often leads to decisive outcomes for properties that present well. "At the end of the day, well-presented homes are being snapped up, and people are more than willing to pay higher prices."

As this sale proves, when stock is tight, buyers move fast, and those who hesitate risk missing out entirely.

Perth saw 144 auctions go to market, Cotality reports, two more than a week ago, with only 55.6 percent reporting a positive result so far.