Over $2million in profit. Auction market sizzles with highest clearance rate since July

Auction activity surged this week, with the preliminary clearance rate climbing to 74.5 percent, the highest early success rate recorded since the first week of July 2024. This strong performance came amid a busier auction calendar, with 2,103 properties going under the hammer, marking a 4.9 percent increase from the previous week and a 3.6 percent rise compared to the same period last year.

Melbourne once again led the nation as the busiest auction market, hosting 1,000 auctions. Of the results collected, 75.2 percent have been successful, slightly down from the prior week's preliminary figure of 76.6 percent, which was later revised down to 65.6 percent. Still, this marks the ninth consecutive week Melbourne has maintained a preliminary clearance rate above 70 percent, underscoring ongoing buyer confidence.

In Sydney, 784 homes went to auction, a modest increase from 778 the week before. The preliminary clearance rate held steady at 73.5percent, matching last week's early result, which was later revised to 67.6 percent. This is the third consecutive week Sydney has posted a preliminary clearance rate above 70 percent, suggesting stable demand despite the city's persistently high property prices.

Looking ahead, auction volumes are expected to ease. Around 1,770 homes are currently scheduled for auction next week, before dipping further to approximately 1,430 the week after.

Edwardian villa finds new life in $1.17m Brighton auction

An Edwardian classic found fresh footing on Saturday as 121 Male Street, Brighton sold under the hammer for $1.17 million, following spirited bidding between three young families.

Drawing 100 groups through its gates during the campaign, the charming single-level red-brick villa captured hearts with its soaring ceilings, sunlit courtyard and enduring period appeal. Positioned just steps from Bay Street, the beautifully kept two-bedroom home sits on a low-maintenance 197 square metre block and offers instant comfort with recent upgrades including new carpets, paint and landscaping.

Bidding began at $900,000 and swiftly climbed to $1 million before a final flurry saw the hammer fall at $1.17 million. Marshall White listing agent Simon Monnier-Penny described the auction as "solid and straightforward", with all bidders being young families, some from the area, others drawn to Brighton's lifestyle and schools.

Originally purchased in 1991 by an older single gentleman, the home now begins a new chapter with a growing family planning a full renovation. "They saw the potential straight away," Monnier-Penny said. "It's a great blend of character and opportunity in a Blue-Chip spot."

Set behind a picket fence and framed by lush garden beds, the home's traditional floor plan and north-facing rear offer the bones for something special. With Bay Street's shops and North Brighton station just steps away, this sale marks a smart move for a new generation and a graceful exit for a long-term local.

Family ties seal $2.79m win in Maroubra showdown

A much-loved Maroubra home changed hands on Saturday in an emotional, high-energy auction that saw bidding climb from $2.5 million to a final sale price of $2.79 million.

Offered for the first time in nearly 50 years, 8 Wride Street was snapped up by a young family with deep ties to the neighbourhood. With siblings and parents already living on the street, the winning buyers were cheered on by family, their parents "over the moon" according to Belle Property agent Shane Vincent.

Four bidders launched into the auction with fierce determination, opening bidding at $2.5m with offers rising in $10,000 to $25,000 increments. The tempo stayed high throughout, boiling down to a final call by the young family, who now step into a home bursting with seaside charm and future potential.

The vendors, an older couple who purchased the property in 1976 for just $29,000, were visibly emotional as they prepared to leave the home where they raised their family. "They're off to a retirement home now," Vincent said. "It was a big moment with lots of memories tied to the place."

Set on the high side of the street and just 700 metres from the beach, the three-bedroom semi captivated buyers with its sunlit gardens, spa terrace and scope to renovate or extend (STCA). After nearly five decades in one family's hands, this much-admired home is ready for its next chapter.

Cardross Close stunner snapped up for $1.48m in bidding duel

A towering statement in lifestyle and scale, 3-5 Cardross Close has sold for $1.48 million after a tightly fought bidding contest between four parties, with a young couple of medical professionals securing the keys in a clinical finish.

Listed through Ray White's Will Munro, the grand four-bedroom entertainer drew 30 groups through the campaign, thanks to its unrivalled floor plan, sweeping views and endless entertaining potential. The bidding opened at $1.2 million, quickly heating up, with one emotional bidder regretfully pulling out, before two determined buyers went head-to-head. The final call landed with the local couple, who Munro said "recognised the home's potential straight away and moved decisively."

Spread across two expansive levels and boasting everything from a cool room and butler's pantry to a guest retreat and 10.8 by 8.8 metre multi-use shed, the home captured attention for both its breadth and positioning in the higher end of the neighborhood.

A pool, alfresco kitchen and palatial master suite add to the sense of resort-like indulgence. But it was the versatility that stood out. "People saw it as more than just a luxury home. They saw a flexible layout that could fit in with their lives," Munro said.