Ray White Bayside Group director and chief auctioneer Kevin Chokshi in action at an auction in Patterson Lakes Saturday. Photo: David Crosling.
Melbourne has had its busiest auction week of the year, amid the best conditions for home sellers since the outbreak of the Covid pandemic.
According to PropTrack, the city recorded a preliminary clearance rate of 68 percent on Saturday based on 956 early auction results.
Realestate.com.au’s research arm expected more than 1,750 auctions in Victoria this week, while the Real Estate Institute of Victoria expected 1,880 homes to go under the hammer – making it the biggest auction week in Melbourne since March 2024.
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Jellis Craig chief executive Andrew McCann said this spring was the best market for sellers since demand peaked in 2022 and prices soared following the pandemic.
“We certainly came out of Covid with incredible strength, and it was in fact an incredible market – I think it’s the best spring we’ve seen since,” he said.
Over the past four to six weeks, more bidders have participated in auctions and more homes have been sold at the reserve price or higher, he added.
And Mr McCann said it looked like there would remain a low number of homes for sale into 2026.
![34/74-76 Gladesville Blvd, Patterson Lakes - for announcing Sun Real Estate](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
This townhouse at 34/74-76 Gladesville Blvd, Patterson Lakes, went under the hammer this weekend.
A crowd gathered for the auction and squeezed in as rain began to fall across Melbourne. Photo: David Crosling.
“Buyers will have to compete for better properties, so they will have to be prepared for some competition,” he said.
“It will be fairly consistent and plentiful over the next six to 12 months – meaning homes in good locations that are well presented will find a competitive audience and that will tend to trickle down through the market.”
Mr McCann said on Saturday that Jellis Craig branches held a total of 195 auctions in Melbourne, selling 155 homes.
The entertainer’s area features a built-in BBQ, courtyard gardens and water views.
Ray White Victoria auctioneer Jake McIntyre said inspection figures had risen sharply across Melbourne, while stock levels remained low.
“We are seeing larger audiences and participation at auctions across Melbourne, with an average of around 55 people per auction in September, up from 49 last year, and inspections are up almost 17 per cent on the previous year,” Mr McIntyre said.
“It is still very much a seller’s market, but we are seeing genuine engagement from all buyer segments, especially first home buyers and investors.”
52 Victoria Ave, Albert Park, also scored a sale on Saturday.
A three-bedroom townhouse at 34/74-76 Gladesville Blvd, Patterson Lakes, sold Saturday for $1.31 million.
More than 80 buyer groups inspected the waterfront property during the auction campaign overseen by Genevieve Hill and Tez Hashemi of Ray White.
Ray White Bayside Group director and chief auctioneer Kevin Chokshi auctioned the home, which was listed with a price expectation of $1.08 million to $1.16 million.
A gas fireplace in the living room, with patio doors to the garden.
Also this weekend, a Victorian-era house at 52 Victoria Ave, Albert Park, sold for $2.7 million after being listed at a range of $1.85 million to $2 million.
Oliver Bruce of Marshall White said the three bidders vied for the keys to the two-bedroom house which was put on the market past the $2 million mark.
“There was a big crowd there and even today, across all our offices, we have seen very strong results with many properties well above reserve, with multiple occupants,” Mr Bruce said.
About 566 auctions will be held in Victoria next week.
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