"The market seems more desperate now, before it goes up and becomes unattainable."

A large crowd gathered in Adelaide's east as 97 Ashbrook Avenue, Trinity Gardens went under the hammer, the action unfolding beneath a backyard wisteria as rain threatened overhead. Alexander Real Estate agent Penny Riggs said a crowd of 50 onlookers watched 3 bidders, two of them young first home buyers, the third an investor, compete for the keys.

Bidding kicked off strongly at $1.34 million, well above early campaign expectations. "The opening bid was higher than offers I was getting in the first week of the campaign," Riggs said. From there, momentum continued as buyers traded a series of $5,000 rises, with competition coming down to the wire between an enthusiastic young couple and a seasoned local investor.

In the end, it was the investor who prevailed, securing the property with a final bid of $1.45 million. The seller, who purchased the property in 2009 for $610,000 will take the earnings on a new adventure. "The vendor lives interstate but is heading across the ditch for a life in New Zealand," Riggs said.

Throughout the campaign, the sandstone villa, rich in character and nestled among other distinguished homes, drew strong attention from young purchasers. "I saw lots of enthusiastic young couples inspecting the property, many of them first home buyers," Riggs said. "There's really been a bounce in the market. Everyone is in a buying mood, especially this time of year."

Riggs noted that demand remains intense in Adelaide's sought after middle-ring suburbs. "The Adelaide market has been so strong for so long, I almost feel like I have to take a breath," she said. "There's so much demand, maybe too much."

Cotality reports 146 auctions in Adelaide this week, 6.4 percent fewer than last week, but the preliminary clearance rate rose to 72.6 percent, up 7.3 percentage points.

Interstate bidders drive standout result in Perth

A competitive crowd gathered on auction day, with five registered bidders and three actively participating as the bespoke two-storey home at 129A Northwood Street, West Leederville went to market. Ray White agent Thomas Wedge said the property sold under the hammer for $1.925 million, well above reserve.

The opening bid of $1 million sharply lifted to $1.5 million in $100,000 rises, after which a flurry of $50k and $25k bids sent the price to the fall of the hammer.

"The final two bidders were present, but both from interstate: one from Sydney, one from Melbourne looking to get their piece of the Perth pie," Wedge said.

In the end, the Melbourne buyers, a young couple "not afraid to bid", edged out their Sydney rival.

Wedge said enquiry on the property reflected a clear trend in the current market. "There's been a serious uptick in properties. We're getting lots of calls from the eastern states for every listing," he said.

Accelerated interest is also being driven by returning Western Australian buyers. "A trend we're noticing is Perthians returning to the West to be close to their families after living in the big cities. You just get more for your money," Wedge said.

"They're also realising the high rent returns available on investment properties."

The agent noted that buyer nerves about the broader economy were contributing to a sense of urgency.

"There also seems to be a feeling that people want to buy before Christmas, because they're expecting the market to break due to U.S. inflation that could cause shifts here in Australia," he said. "The market seems more desperate now, before it goes up and becomes unattainable."

The result capped a strong campaign for a meticulously maintained modern home with multiple living zones, landscaped outdoor spaces and a location just moments from Lake Monger, a lifestyle draw that resonated loudly with local and interstate buyers alike. Of the 16 auctions held in Perth, 58.3 percent have so far reported a positive result, says Cotality.

Elevated outlook drives hot competition in Brisbane

16 Valiant Street, Chermside West, went under the hammer in Brisbane's west after an unusually short campaign, with Harcourts listing agent Emily Magee describing the sale as a product of a tight and eager market.

"This was a unique circumstance with only a 9-day campaign run prior to auction. We got 25 groups in one weekend," she said. "Everyone is eager to buy before Christmas, so we wanted a quick turnaround."

The market urgency was clear in buyer behaviour throughout the campaign. "It's really tight in the market right now. There's just not enough stock on any level," Magee said. "Demand is outweighing supply overwhelmingly. We're seeing people putting in offers sight unseen. Their thinking is, 'Anything I can be accepted for, I'll take.'"

Auction day delivered three active bidders, mostly upsizers chasing the home's elevation, natural breezes and sweeping outlook. Bidding kicked off at $1.3 million, which Magee said was on par with comparable results on the street, and rose in confident $50,000 increments. Buyers connected with the home's charm and versatility.

"People were in love with the views, and although it's an older home, it's got modern attraction and style," she said.

The hammer ultimately fell at $1.45 million, securing a strong result after a campaign that lasted just over a week, clear evidence of a market where urgency is high and available stock is scarce.

Brisbane saw 183 homes go under the hammer this week, marking a 14.3 percent decline from the previous week, according to Cotality. The preliminary clearance rate fell 4.8 points to 68.4 percent, the lowest in eight weeks.