Buyers have more choice as auction volume rises

The top result for the day went to Ray White Phillips & Co principal Alexander Phillips, who sold 9 Kenneth St, Tamarama under the hammer for $20.250 million to a local family from the inner west. The highest number of registered bidders nationally was Ray White Eastern Beaches director Angus Gorrie’s auction at 29 Melody Street, Coogee, with 9 registered bidders and 6 active bidders.

Ray White auctioned 929 properties nationally this week - volume not seen since the first week of July.

Thomas McGlynn, Ray White CEO of Performance and Value, said auction volumes increased significantly this week, with 929 auctions scheduled nationally, almost 50 per cent more than last week. 

“Against that increase in choice, the market held relatively firm, with national clearance at 43.3 per cent and both Sydney and Melbourne above 58 per cent,” Mr McGlynn said.

“What interests me is the activity underneath those numbers. We continue to see strong active bidding at properties that are ultimately recorded as passed in, which is telling us that buyers are certainly engaged even though buyer and seller expectations don’t quite meet on the day.”

More choice through spring will naturally allow buyers to be considered and disciplined around value, Mr McGlynn said.

“For sellers, it makes the ability to reach and engage as many genuine buyers as possible increasingly important.

“Auction campaigns continue to attract considerably more buyers than private treaty, and in a market where buyers have options, that depth of engagement matters”

Mr McGlynn said: “We are also seeing confidence at the very top end of the market”.

“This week a Sydney property sold at auction for $20.25 million, following the $17 million Brisbane result in recent weeks,” he said.

“At these price points, buyers are making significant decisions and are still prepared to compete when they see quality and value.

“While there remains some caution across the broader market, these results and the underlying activity we are experiencing are a strong indication that confidence exists and buyers are prepared to act when value appears.” 

Sydney

Ray White NSW head of auctions Dave McMahon said volumes were rising.

“We had 285 auctions this week, and 145 of those took place today,” Mr McMahon said.

“So, great news for buyers, and our sellers are also receiving some positive news.

“We had 60 per cent of our properties sell under the hammer on the day, and collectively, we have sold 81 per cent of all auctions scheduled this week.” 

Mr McMahon said bidder numbers remain consistent - 2.4 registered bidders, 1.8 of those being active.

9 Kenneth St, Tamarama
Sold under the hammer for $20.250m
3 registered bidders, 3 active bidders 
Lead agent: Alexander Phillips - 0418 404 337
Ray White Phillips & Co
Auctioneer: Damien Cooley, Cooley Auctions

An oceanfront home in Tamarama once owned by socialite Di Maloney sold under the hammer for $20.250 million on Saturday morning.

Ray White Phillips & Co principal Alexander Phillips marketed the mortgagee-in-possession sale which is the highest recorded sale price for an Eastern Beaches property in 2026.

The property, an existing block of five apartments and a standalone beach shack, is in significant disrepair; however, the drawcard is its prized position and breathtaking outlook. 

Mr Phillips said three active bidders placed a total of 14 bids during the auction, held in front of a crowd of around 80 to 100 people.

He said a developer family from the inner west bought the property and planned to redevelop the 562sqm site. 

Mr Phillips said the sale was a “once-in-a-lifetime opportunity”. 

Co-sales agent Thomas Fuller said the auction also attracted international bidding from as far as New York.

Mr Fuller said now was a great time to buy in the luxury market given the right opportunity. 

“We had interest throughout the campaign from buyers in Europe and the States,” Mr Fuller said. 

29 Melody Street, Coogee
Sold under the hammer for $3.315 million
9 registered bidders, 6 active bidders
Lead agent: Angus Gorrie - 0418 282 853
Ray White Eastern Beaches Coogee

A three-bedroom home at 29 Melody Street, Coogee - tightly held for more than 32 years - sold under the hammer in front of a crowd of 50 to 60 people for $3.315 million.

Ray White Eastern Beaches Coogee director Angus Gorrie said the owner had gone into a nursing home and the property was “unlivable”.

“This is the first time the property has been offered to the market in a long time,” Mr Gorrie said.

An owner-builder bought the property, Mr Gorrie said.

"It’s a knock-down rebuild; there’s not much to keep.”

6/45 Bishops Avenue, Randwick
Sold under the hammer for $1.350 million
5 registered bidders, 4 active bidders
Lead agent: Angus Gorrie - 0418 252 853
Ray White Eastern Beaches 
Auctioneer: James Hayashi, Ray White

A two-bedroom apartment at 6/45 Bishops Avenue, Randwick sold under the hammer for $1.350 million to a young first homebuyer couple.

Ray White Eastern Beaches director Angus Gorrie said the apartment market was picking up slightly.

“There are people out there ready to transact if they find the right property,” he said.

The property had a price guide of $1.2M, was positioned on the top floor, set to the back of a block of only six apartments.

462 Pennant Hills Road, Pennant Hills
Sold under the hammer for $2.075 million
2 registered bidders, 2 active bidders
Lead agent: Nathan Leuzzi - 0412 975 190
Ray White Upper North Shore

Melbourne
 

Ray White Victoria and Tasmania chief auctioneer Luke Banitsiotis said across Victoria and Tasmania, open homes recorded 8,320 total attendees across 3,893 inspections over the past week.

Week-one open home attendance for new Victorian listings rose to 3.6 attendees per open, up from 3.4 the previous week, though it remains slightly below the four-week average of 3.9.

“Campaign strategy continues to drive overall buyer engagement, with auction listings averaging 2.8 attendees per open across the full campaign compared to 1.5 for private treaty listings,” Mr Banitsiotis said.

“On the clearance front, same-day conversion sat at 56 per cent across the past 7 days. 

“Looking at 45-day campaign metrics over the past week, auctions significantly outperformed private treaty sales with a 74 per cent clearance rate compared to 50 per cent.

“For the broader July to September 2026 quarter, overall 45-day clearances sit at 63 per cent for auctions and 45 per cent for private treaty, representing a drop of 7 percentage points and 4 percentage points respectively compared to the April to June quarter.”

2 Pace Circuit, South Morang
Sold under the hammer for $500,000
2 registered bidders, 2 active bidders
Lead agent: Nick Petrovski - 0412 838 020 
Ray White South Morang

A first homebuyer can now call 2 Pace Circuit, South Morang home after placing the winning  $500,000 bid at auction this morning.

Rebecca Buckley, 30, said it was her first time bidding at an auction.

“I was very nervous - it was my first time having a horse in a race at an auction,” Ms Buckley said.

She said she had fallen in love with the property.

“I loved the value of what it was offering, it’s close to friends and family, and I couldn’t not give it a chance today,” Ms Buckley said.

Ray White South Morang agent and auctioneer Nick Petrovski said the buyer attended the auction with her parents and intends to leave the “family nest”.

Mr Petrovski said the home was owned by an older Italian couple who had recently retired.

“They are simplifying their lives and restructuring things for retirement,” he said.

1/38 Eildon Parade, Rowville
Sold under the hammer for $860,000
1 registered bidder, 1 active bidder
Lead agent: Courtney Matthews - 0403 438 457
Ray White Mount Waverley

A four-bedroom townhouse at 1/38 Eildon Parade, Rowville sold under the hammer for $860,000 to a young couple looking to purchase their second home.

Ray White Mount Waverley sales agent Courtney Matthews said the seller, an investor, built the townhouse some time ago.

Due to conditions affecting investors, the seller felt it was time to move on from leasing, Mr Matthews said.

21 Taldra Drive, Ferntree Gully
Sold under the hammer for $957,000
3 registered bidders, 3 active bidders
Lead agent: Cristine Jones - 0417 501 000
Ray White Ferntree Gully
Auctioneer: Fabian Sanelli, Ray White

A young first homebuyer couple took the shot and brought it home, locking down their dream property on Grand Final day! 

Their new home at 21 Taldra Drive, Ferntree Gully sold under the hammer for $957,000.

Ray White Ferntree Gully sales agent Cristine Jones said the couple were in tears after the winning bid was secured by one of their dad’s, who had been bidding on their behalf.

Eileen and husband Ethan had been looking for a month for a home that would suit their growing family.

Eileen said her father had a “game plan” today.

“He has supported my three older sisters, he has done this before and he knew what he was doing. He knew what was our max and knew what to do,” she said.

Eileen said she loved the area and that the property was well maintained.

“You can see this home has a lot of love and it’s a great family house. It met all our needs.”

Ms Jones said the sellers were referred to her from a ‘sister’ Ray White office.

“They were family friends and they wanted to refer them to a more local, number one office as they felt that was the right thing to do,” Ms Jones said.

“The sellers felt they were in good hands, were with a good brand however were questionable about auctioning the property on Grand Final day.

“Having done this for 25 years and on grand final day they asked if I was sure!

“And I was.”

Brisbane

Ray White Queensland head of auctions Tom Gunness said it was a strong week for Ray White Queensland across auction floors with the preliminary clearance rate showing 36 per cent of property selling under the hammer.

“Despite what seems to be a looming interest rate rise next week, registered bidder numbers are strong with an average of 2.2 registered bidders per auction and 1.6 active bidders,” Mr Gunness said.

“We are seeing an environment where genuine buyers are looking to buy and sellers are being presented with the opportunity to sell. Genuine sellers are meeting the market and making the decision to move.”

Meanwhile Ray White Gold Coast joined forces yesterday to execute the Spring Auction Experience, bringing 129 properties to public auction over an intensive four-and-a-half-hour showcase. 

Mr Gunness said the collective event generated about $80 million in total unconditional sales value, establishing a powerful benchmark for the broader south east Queensland property market.

The flagship order of sale represented a comprehensive cross-section of local real estate, featuring everything from $700,000 entry-level apartments to $5 million waterfront estates, spanning key growth corridors from Coomera to Coolangatta.

“The event achieved a preliminary under-the-hammer clearance rate of 37.5 per cent, with aggressive post-auction conditional negotiations actively unfolding on the floor,” Mr Gunness said. 

“Buyer participation remained strong throughout the session, with approximately 200 registered bidders driving competitive bidding across the majority of the order.” 

The high end sector showed notable strength, evidenced by multiple transactions closing above $2.5 million. The top sale of the day was secured for a luxury Surfers Paradise sub-penthouse, which sold under the hammer for $3.310 million to a Queensland buyer. 

Mr Gunness said commercial assets on the order of sale similarly drew spirited, unconditional competition.

He said pre-auction pressure was also a dominant factor in the lead-up to the event. 

“Half a dozen properties were finalised unconditionally in the 24 hours prior to the main order of sale, as motivated buyers moved early to secure terms and bypass competitive floor bidding,” Mr Gunness said.

“Momentum in a shifting market is never a given - it is a decision that is made and delivered through strategy, broad market reach, and relentless execution on the floor.”
Ray White Malan + Co CEO Michael Andrews said the energy in the room was fantastic.

“We had bidding across every property, and with the pre-sales combined with those sold under the hammer, we were looking at clearance rates in excess of 50 per cent across the majority of the day,” he said.

“More importantly, it showed that when owners were genuinely there to sell and buyers were there to buy, bringing them together in the room created the opportunity to achieve everyone’s ambitions.”

6 Nanny Shailer St, Daisy Hill 
Sold under the hammer for $1.47 million
5 registered bidders,  4 active bidders 
Lead agent: Johnson Teo - 0422 804 811
Ray White Springwood and Shailer Park 
Auctioneer: Phil Parker, Ray White

A four-bedroom home at 6 Nanny Shailer St, Daisy Hill sold under the hammer for $1.47 million to a couple who have been looking for a property in the Daisy Hill Sanctuary Pocket for some time.

Ray White Springwood and Shailer Park sales agent Johnson Teo said the winning bidders had considered not attending today’s auction.

“I am glad they came, they secured it,” Mr Johnson said.

“The drawcard to this home, which is less than 15 years’ old, is that it has four bedrooms, a children’s retreat and is close to local schools.”

Buyers Hieu and Kaori Mathews (pictured above) said they loved the well maintained and low maintenance home which was in a great location.

“The auction was good, I wasn’t going to go because I don’t like auctions in general - it’s a lot of pressure,” said Mr Mathews, who has two children aged 4 and 6.

But this was within our expectations, and we met the sellers who are a nice couple.”

14 Monica St, Rochedale South
Sold under the hammer for $1.2 million 
Lead agent: Charlie He - 0455 888 890
Ray White Springwood and Shailer Park 
Auctioneer: Phil Parker, Ray White

Adelaide

Ray White South Australian chief auctioneer John Morris said while much of the country had  one eye on the grand final today, there was still plenty happening in the local auction market. 

“Last week, we conducted around 50 per cent of all auctions across South Australia, and the difference in results was significant,” Mr Morris said.

“We cleared 57 per cent under the hammer on the day while our collective competition managed to sell around one in three on auction day.  

“This week, our market share has climbed even higher. There are approximately 120 auctions scheduled across the state, and Ray White has 70 of them, close to 60 per cent of the entire South Australian auction market.” 

The preliminary numbers are showing three registered bidders per auction with two actively participating, he said.

“That's unchanged from last week - and more than 50 per cent of our auctions are selling on the day with their overall clearance rate increasing to about 60 per cent when we include properties sold prior and sold after the auction.” 

24 Mellor Road, Glanville 
Sold under the hammer for $745,000
3 registered bidders, 2 active bidders
Lead agents: Kate Richards - 0413 336 287 and Heather Montemayor - 0413 525 498 
Ray White Semaphore
Auctioneer: Anthony DeMarco, Ray White

In front of a crowd of 30 people, a three-bedroom home at 24 Mellor Road, Glanville sold under the hammer for $745,000.

Ray White Semaphore co-sales agent Heather Montemayo said her uncle built the home in the 1900s, and her mother has lived next door for many years.

“Being in there, each open home was special - I spent a lot of time growing up there,” Ms Montemayor said.

“Mum still lives next door, my parents bought the land off my great uncle Albert Vickers for 40 pounds. 

“My great uncle sold it to my mum and dad at "rellies" rates in 1956. My dad and a Polish builder built the house that I grew up in. 

“Mum is the longest surviving person in the street.”