School-zone magnet draws five bidders and fast $25k jumps

Strong early interest and brisk bidding set the tone for the auction at 1/71 Wellington Street, Kew, where family buyers zeroed in on space, school access and move-in readiness in Melbourne's inner east.

Biggin Scott agent Jing Chen said buyer traffic was solid from the outset, with 60 groups coming through to inspect and 5 registered bidders ahead of auction day. About 40 people gathered as bidders got straight to work, opening at $1.7m and moving in quick $25k rises.

"The property was on the market at $1.8m," Chen said, adding that competition held firm once the vendor's reserve was met. The winning buyers were a Melbourne family, while the seller cashed in on a 2003 investment, marking a 23-year hold and a 193 percent return.

Chen said current conditions are producing mixed signals for some participants, but well-positioned homes are still performing. "It's a new year. Things are unpredictable right now, without knowing if we'll get a rate rise," she said. "If a property is in good condition in a good location, it will sell right now. That's what I know to be true."

She also noted changing buyer patterns across attached stock. "With brand new units being so expensive, second-hand apartments are in high demand, especially for first home buyers," Chen said.

Cotality's first week of auction reporting for 2026 saw a marked pick up in the number of homes taken under the hammer. Melbourne led the volume of auctions, with 643 homes taken to market, a 33.1 per cent lift in the number of auctions compared with a year ago.

First home buyer wins after late $1k bidding bursts

A compact crowd gathered in inner-Sydney as bidding opened on the level-seven apartment at B716/444 Harris Street, Ultimo, where four registered bidders quickly narrowed to two serious contenders before a local first home buyer secured the keys at $775,000.

Ray White agent Matt Carvalho said the contest showed how tightly buyer behaviour is clustering around stamp duty thresholds and entry pricing. "I'm seeing strong buying activity, mostly from first home buyers seeking sub-$800,000 to avoid stamp duty," he said, noting that even smaller auctions are producing focused, committed bidding.

The opening call came in at $725,000, with the two active bidders trading clean $10,000 rises to $765,000. From there, the tempo changed. Bids shifted to $5,000 increments, then tightened again to $1,000 advances as each side paused to reassess. Carvalho described it as a "measured duel" rather than a rapid-fire sprint, with each move carefully considered before the hammer fell.

The vendors, two sisters, had owned the property since 2018, first as an owner-occupied home and later as an investment. Their decision to sell aligned with what Carvalho described as a steady early-year market indictor.

"Overall, it's been a good start to the year, and I see it continuing," he said. "Stock is moving when it's presented well and priced where buyers see value."

Across Sydney, 468 auctions were held, according to Cotality, a subtle 3.3 per cent rise relative to the same week last year. The preliminary clearance rate rose sharply, reaching 71.3 per cent, well above the 58.1 per cent recorded in mid-December and the highest early auction result since the week ending 19 October (74.5 per cent).

Competitive bidding lifts townhouse well past guide

A solid mix of buyers pushed 61A Breton Street, Warrnambool, Victoria well past expectations at auction, highlighting the appetite for well-priced homes in the city's north. Listing agent Jamie Bamford said the property, a two-bedroom townhouse on 342sqm with double gates and a private yard, drew six registered bidders, three actively participating as the hammer went down.

Bidding opened at $440,000 and quickly rose in $10,000 increments, slowing to $5,000 lifts once it reached $500,000. "A married couple secured the property at $520,000, purchasing for the wife's mother," Bamford said. "The vendor had held it for 25 years as a local investor, so it was a long-term asset."

Regarding the broader market, Bamford said, "The market is confident. I haven't seen much concern for a rate rise yet. Sub-$600,000 properties are driving interest from investors, as well as first home buyers, who are often looking at units."

He added, "Even if rates rise, I feel the market is. strong, and enough demand will force supply to increase."