The 2025 Real Estate Institute of Victoria’s Senior Auctioneer of the Year, Paul Tzamalis, is one of the many auctioneers preparing for a mega-auction weekend.
Melbourne is headed to its biggest auction week in more than 18 months as more than 1750 homeowners prepare to test the market.
With PropTrack data showing the city’s clearance rate around the high 60 per cent to low 70 per cent range across spring so far, and multiple interest rate cuts across the year, the next two days are being billed as a homeselling bonanza that could mint homeowners across the city.
Meanwhile, buyers will get their pick of the widest field of homes in a single week since the end of March, 2024, when 1972 auctions were held.
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And separate Ray White data shows buyers have been ramping up, with the typical Greater Melbourne auction now attracting three bidders on average – up from about 2.5 a year ago.
PropTrack senior economist Eleanor Creagh said there was no denying it was a “big week”, given Melbourne auctions typically averaged just under 1000.
“Activity in search is at the highest level since 2021, and inquiries per listing is up,” she said.
While PropTrack is expecting 1757 homes to go under the hammer across Victoria this week, the Real Estate Institute of Victoria’s figures are slightly higher with 1880 auctions anticipated.
This three-bedroom house at 39 Merrilands Rd, Reservoir, will go under the hammer with a $900,000-$990,000 asking range on Saturday.
PropTrack senior economist Eleanor Creagh says while sometimes a sharp increase in auction volumes could lead to clearance rates dropping slightly, there had been healthy demand from buyers this spring.
REIV interim chief executive Jacob Caine said the huge auction numbers were due to being “smack bang” in the middle of spring selling season and timetabling around the Melbourne Cup Carnival’s biggest days.
“This weekend is shaping as a potential bonanza for home sellers and those super-keen buyers who have kept their hands in their pockets over the past month or so,” Mr Caine said.
“Our members across the state are reporting that support for first-home buyers is translating into incredible competition in properties that sit under the million dollar price point.”
Since October 1, changes to the federal government’s Home Guarantee Scheme mean first-home buyers with a 5 per cent deposit can avoid lenders’ mortgage insurance on homes of up to $950,000 in Melbourne and Geelong and $650,000 elsewhere in Victoria.
Mr Caine said while clearance rates tipped the state was becoming a seller’s market, this week’s auctions would likely be a mixed bag with some lower-than-expected results.
A renovated 1950s’ weatherboard at 34 Celia St, Bentleigh East, will be auctioned this weekend with $1.48m-$1.58m price hopes.
REIV interim chief executive Jacob Caine says despite the big auction numbers this week, some homes will achieve fantastic results but others will sell for lower-than-expected prices.
Ray White’s Victoria and Tasmania sales performance executive, Jake McIntyre, said this spring “has shaped up as one of the most dynamic markets in recent years” thanks to more bidders per property and strong demand from first-home buyers and investors.
“When there’s a large number of auctions, it creates a real buzz in the market,” Mr McIntyre said.
“Lower interest rates have reignited buyer confidence and with limited stock we’re seeing strong competition at auctions – it’s a great time for sellers, there’s real depth in the buyer pool and clearance rates are reflecting that.”
Set on a 480sq m block, 104 Royal Tce, Craigieburn, will test the market with a $680,000-$710,000 range on Saturday.
Ray White’s Victoria and Tasmania sales performance executive, Jake McIntyre, says overall listings are actually down 3.8 per cent on 2024 but inspections are up nearly 17 per cent. Picture: Nikki Davis-Jones.
Three-time winner of the Real Estate Institute of Victoria’s Senior Auctioneer of the Year Award, Paul Tzamalis, said it was “amazing” to see how significant auction numbers could “breathe confidence into the market, because there’s just so much activity going on”.
Mr Tzamalis said the sheer volume of homes going under the hammer meant some bidders could face less competition simply because other buyers in their price brackets would be at a different auction.
“And this is purely my opinion, arguably, if ever there was a weekend to be out on the street, this is the one,” The Auction Company director said.
Ms Creagh added that November was one of the most popular times of year to list a home for sale, and buyers who did miss out would likely to continue to benefit from a substantial amount of choice after the market has a quieter run through Melbourne Cup week.
Auctioneer Paul Tzamalis calling a Geelong auction.
HAMMER TIME HOT SPOTS THIS WEEK
Reservoir — 37 auctions scheduled
Bentleigh East — 31 auctions scheduled
Craigieburn — 30 auctions scheduled
Mt Waverley — 26 auctions scheduled
Glen Waverley — 25 auctions scheduled
Source: PropTrack
SURVIVING MEGA-AUCTION WEEK: TIPS FOR BUYERS
+ It’s important to stay calm and keep perspective — there’s a lot of emotion around auctions. Being well-prepared gives you the best chance to succeed on such a busy weekend.
+ Don’t try to start an auction at a low figure. Be strong and bold. Ask yourself: “What do I need to pay to buy?”
+ If a home does not look like it will sell at auction and you’re quite keen on it, try to be the highest bidder so you will be first in line when it comes to negotiating after the auction.
Experts are advising home buyers to stay cool, calm and collected this week.
TIPS FOR SELLERS:
+ As you head into this weekend, you’re entering a golden window. Buyer activity and competition are strong, and presentation is everything. Focus on creating an inviting atmosphere that stands out.
+ Open all windows and blinds to fill your home with natural light and fresh air, ensure rooms are spotless and clutter-free, and freshen up outdoor spaces by sweeping driveways, tidying gardens and mowing lawns.
+ Capitalise on the day’s opportunity, whether it’s the highest bidder or post-auction negotiations. If you decide to wait to sell in the hopes of getting a higher price, your time on the market could be pushed out a lot longer.
Sources: Ray White’s Victoria and Tasmania sales performance executive, Jake McIntyre, and The Auction Company director Paul Tzamalis.
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