Melbourne’s auction market ignited as fierce bidding wars and million-dollar results swept through the city in one of spring’s hottest weekends. Picture: NewsWire / Andrew Henshaw
Melbourne’s spring auction blitz hit full stride at the weekend as buyers battled it out across the city, sending million-dollar hammer prices flying and clearance rates soaring to 72 per cent.
PropTrack figures show 585 results were reported, with 421 homes selling under the hammer or shortly after, in one of the strongest Saturdays of the season.
Camberwell led the charge with a $2.51m sale at 159 Through Rd, trailed by Kew East’s $2.31m result in Wright St.
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Fitzroy continued its hot streak with a $2m Moor St sale, while Mount Waverley ($1.818m) and Ashburton ($1.815m) rounded out the weekend’s top five.
Ray White Victoria chief auctioneer Jeremy Tyrrell said the surge showed Melbourne’s property market was hitting its spring peak.
“With only 10 Saturdays until Christmas, it’s going to be a hot finish,” Mr Tyrrell said.
“Competition was strong across the majority of auctions, with 3.1 active bidders on average and clearance rates at 83.5 per cent across Ray White group.”
Ray White Victoria chief auctioneer Jeremy Tyrell says competition is surging, with strong crowds and buyers chasing homes before Christmas.
159 Through Rd, Camberwell: Camberwell topped Melbourne’s auction leaderboard with this $2.51m Through Rd beauty, a result that set the tone for the weekend.
He said the federal government’s expanded first-home buyer scheme — which now removes income caps for buyers using a five per cent deposit and no lenders mortgage insurance (LMI) — had added heat to the affordable end.
“First-home buyers are coming back in force,” he said. “The extra support has given them permission to get off the sidelines.”
5 Wright St, Kew East: Kew East joined the multi million-dollar club this weekend with a $2.31m Wright St result as buyers returned in force after the AFL Grand Final.
Ray White Bayside Group’s Kevin Chokshi says buyers are moving fast, and those who wait will be paying 2026 prices.
Ray White Bayside Group’s Kevin Chokshi, who sold a tightly held Cheltenham home to a first-home buyer bidding remotely from Queenstown, said momentum was building fast.
“If they wait, they’ll be paying 2026 prices — and they won’t be lower than 2025,” he said.
“Buyers who hesitated earlier in the year are realising now’s the moment to act.”
Mount Waverley’s $1.818m Kendall St sale drew family buyers chasing school zones and space in the booming east.
28 Samarinda Ave, Ashburton: Ashburton rounded out Melbourne’s top results as a renovated family home in Samarinda Ave soared past $1.8m under the hammer.
Agents across Melbourne reported big crowds and serious bidders from the inner city to the bayside and east, with downsizers, families and returning expats all adding fuel to the competition.
With the AFL season done and the weather finally turning, auctioneers expect the next six weeks to bring a flurry of listings before the pre-Christmas lull, setting up a fiery end to the year.
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