Winter slowdown brings steady opportunities for buyers in top capital cities

WATCH: Australian auction surge fuels confidence | view.com.au | 7NEWS

By Tim McDonald

Auction activity stepped back slightly last week, with 2,040 homes going under the hammer across the combined capital cities. This marked a 6.6 percent drop in volume compared to the previous week and a 5.1 percent decline year-on-year. Despite the softer numbers, buyer competition proved strong, with the preliminary clearance rate rising to 73.9 percent, the highest level since July 2024.

The result signals a sharp rebound from the slowdown seen over the King's Birthday long weekend two weeks prior, when the preliminary clearance rate dipped to 63.8 percent amid reduced listings and public holiday timing.

Melbourne led the nation in auction volumes, hosting 947 auctions for the week. Its preliminary clearance rate came in at an impressive 76.6 percent, the city's strongest result since May 2023 and the second-highest performance nationally, just behind Adelaide.

In Sydney, 789 properties were taken to auction. The harbour city reported a preliminary clearance rate of 73.5 percent, its highest since late February 2025, when the Reserve Bank delivered its first interest rate cut of the year. The improved result points to renewed buyer confidence and a tightening market in key metropolitan areas, even as winter sets in.

Riverside penthouse apartment dazzles at auction with $1.115 million result

A vibrant crowd of 60 turned out to watch bidding unfold for the riverside penthouse at 9/67 Alexandra Avenue, South Yarra, and they weren't disappointed. The top-floor Deco apartment with sweeping city views and brilliant northern light sold under the hammer for $1.115 million, delivering a dynamic result in one of Melbourne's most protected pockets.

Belle Property's Mark Konishi, who led the campaign, said interest was strong from the outset. "We had 57 groups through the apartment during the campaign and five registered bidders on the day," he said. "It was good fun, good energy and a really entertaining auction. The crowd was into it."

Spanning an impressive 148 square metres, the two-bedroom residence is the crown jewel of its Art Deco complex. A spacious living zone unfolds across three distinct lounge, dining and sitting areas, all bathed in north light and opening onto a full-width balcony that frames the Yarra and city skyline.

Bidding opened at $910,000 and quickly escalated as a third-party bidder pushed the price to $1.107 million. In the final moments, the original bidder returned to clinch the win at $1.115 million.

Konishi said the result highlighted the long-term strength of Melbourne's prestige apartment market. "The property last sold in the mid-$600,000s back in 2006," he said. "To see it achieve $1.115 million today shows an uplift of more than 70 percent. It's a strong return, especially for a unique residence like this with such a premium riverside position."

Manly apartment sells for $2.86m in emotional auction finale on Eastern Hill

A rare opportunity at one of Manly's most premier addresses has captured hearts and headlines, with a near-original apartment in Marlborough Gardens selling under the hammer for $2.86 million. More than 100 onlookers gathered outside 8/140 Addison Road NSW to witness a spirited auction that saw three competitive bidders vie for the landmark Eastern Hill property.

Listing agent Mark Skeens of Stone Real Estate Manly said the sale was not only a financial success but an emotional moment for the estate. "The estate had been owned by a 92-year-old gentleman who bought it back in 1977 for just $41,500," Skeens said. "He passed away with no children, and as per his will, the full proceeds from the sale will be donated to two separate charities. It was a very special result."

Sold to a downsizing couple, the 114-square-metre apartment offered a pristine canvas for reinvention, with generous proportions, a sun-drenched balcony and leafy ocean glimpses. "This is the best part of Manly," Skeens added. "It's freehold land, footsteps to Fairy Bower and in a building that rarely sees turnover."

With the final price representing a more than 6,700 percent increase since it was last purchased, the sale stands as both a remarkable return on investment and a testament to Manly's enduring coastal prestige.

Where oranges grow, fortune follows. Family treasure in Geelong West fetches $1.16m after heartfelt auction.

There were smiles, sunshine and even mandarins at the auction of 3 Mowat Street, Geelong West, as the beloved family home sold for $1.16 million after a spirited 20-bid showdown.

The classic character home, held by one family for 60 years, attracted 75 groups through its pre-auction campaign, with three registered bidders competing on the day. Jellis Craig agent Marcus Falconer said the result was deeply meaningful for the vendors. "The owners' children had recently renovated the home for their parents, so it was very emotional watching it change hands," he said. "There were tears, but also pride. They were thrilled with the outcome."

Set on a wide 752-square-metre block, the home offered charm and potential in equal measure. Character details like high ceilings, timber fretwork and a bay window met modern updates, including a north-facing living zone, expansive backyard and undercover deck perfect for family life. "It's neat as a pin, with plenty of room to grow," said Falconer. "And it's in one of the most desirable pockets of Geelong West."

As the auction wrapped up, the new owners left with more than a new address. The sellers handed them a bag full of mandarins from the backyard tree, a warm parting gift from one family to another.