How The Ghan kept one Adelaide auction on track

With the iconic Ghan train line as an unlikely backdrop, 15A Exeter Terrace, Renown Park delivered a quietly competitive auction, where four bidders contested in front of around 20 onlookers in Adelaide's inner-north. "It was a stock standard auction," said Ray White agent Gerrit Lombard, noting the passing 36-carriage heritage train had disrupted inspections during the campaign but made for a calmer auction day.

Bidding opened at $500,000 and moved quickly in $30,000 increments to $650,000 before tightening to $10,000 rises as buyers became more strategic. A pause at $720,000 saw negotiations take over, eventually landing on a sale price of $755,000.

The winning bidders were local downsizers who had recently sold in Fitzroy, drawn to the home's low-maintenance appeal and move-in-ready finish. With its light-filled interiors, refurbished kitchen and private outdoor entertaining space, the property offered a practical lifestyle shift without compromise.

Lombard said broader conditions are shaping buyer behaviour. "World events are creating uncertainty in the market, and people are a bit more timid than they were three months ago," he noted. "There are fewer buyers, but they're higher quality buyers." He added that some investors are holding back, expecting future rate changes, but said, "It's a good time to buy right now."

With an interstate vendor moving on from the asset, the result reflected a market where confidence may be more measured, but well-presented homes continue to find committed buyers willing to act.

Adelaide saw 190 homes taken to auction this week, Cotality reports, marking a 47 per cent rise on the previous week and the highest volume since September 2024. Of those, 69.2 pe rcent have reported a positive result, making the city the only capital to record an increase in its preliminary clearance rate over the week. Even so, the early clearance rate remains well below the year-to-date average of 79.7 per cent.

90-minute auction drama ends in dollar-to-dollar bids

A bright character-filled home with sweeping river views kept a crowd of 50 on edge at 8 Ivy Street, Indooroopilly in Brisbane's southwest as five registered bidders whittled to two in a 90-minute auction marathon.

Bidding opened at $2.5 million and moved through early $50,000 increments before transitioning to $5,000, $2,000 and $1,000 rises. In a bidding frenzy, the last 11 bids were made in $500 increments, highlighting just how tight the contest was. "Every bidder said at one point during the auction, 'I'm not paying a dollar more', before casting another bid," Place listing agent Drew Davies said, laughing. After close to 40 bids in total, a local father secured the home for $2,850,500, driven by a promise to his teenage daughter who had fallen in love with the river views and leafy outlooks.

"It's not about how fast it moves; it's about how deep the competition goes," said Davies. "It stayed between the two committed buyers, and that's where you get your outcome."

The three-bedroom, two-bathroom residence offered a covered entertaining deck, classic high ceilings, timber floors and stunning leadlight windows. With potential to renovate or extend and take full advantage of the elevated setting, it was a rare opportunity in a highly desirable riverside location.

Davies noted the broader Brisbane market remains competitive despite global uncertainty. "Brisbane is insulated from the issues a lot of markets face," he said. "With infrastructure projects underway and the Olympics coming, I'm extremely confident in the market. While sellers are sometimes delaying, buyers are not pulling back, especially for well-located homes."

Brisbane hosted 284 homes at auction this week, according to Cotality, a 42 per cent increase on the previous week and the highest number of auctions since December 2021. The preliminary clearance rate dropped to 58.9 per cent, the city's lowest early result since late last year.

"We thought it might pass-in, so we registered" and bought it for over $3 million!

A tightly held penthouse-style apartment drew a focused crowd at 10/18 Bellevue Terrace, West Perth, where four registered bidders competed in front of around 20 onlookers, building momentum from a $2.1 million opening call as bold early bids of $100,000, $50,000 and $25,000 quickly established intent among the field.

"Today's sale shows there's still confidence in the market," said Ray White agent Adrian Loh.

Set high on the 10th floor, the three-bedroom residence delivered sweeping views across the Swan River, city skyline and Kings Park canopy, with multiple balconies and an expansive open-plan living zone anchoring the appeal.

As the auction progressed, competition tightened before a late twist saw local owner-occupiers, who had only registered shortly before the auction without firm plans to buy, step forward decisively. "We thought it might pass-in, but we were pleasantly surprised," they told Loh. An undisclosed bid above $3 million secured the keys, capping a campaign that reflected both caution and capability among active buyers.

Loh noted that while fewer groups are currently inspecting, those in the market remain measured but serious. "With the transparency of auctions, people can see exactly what they're up against," he said. "They're prepared to stretch further, whereas private sales tend to bring more conservative offers."

Perth recorded its busiest auction week since the period ending December 7 last year, with 24 homes going under the hammer and a preliminary clearance rate of 62.5 per cent.