Higher supply tests demand in national auction market

This week’s auction data points to a softer set of results, with a noticeable pullback in buyer activity.

Ray White's Chief economist Nerida Conisbee said national clearance rates eased to 57.7 per cent, down from 64.5 per cent last week and below the same time last year. Following the post-Easter rebound, this suggests conditions have normalised, but remain somewhat uneven.

“Auction volumes increased to 841 properties nationally, up from 565 last week and well above the 468 held a year ago. With more stock coming to market, the softer clearance rate indicates that demand is not keeping pace with the lift in supply.

“The most significant shift this week was in open home attendance, which fell sharply to 2.4 attendees per property, down from 2.9 last week and 3.1 a year ago. This continues the broader trend of declining foot traffic and points to a more cautious buyer environment.

“Average active bidders held steady at 2.3, suggesting that while fewer buyers are inspecting properties, those who remain in the market are still participating, helping to support a base level of competition,” Ms Conisbee said.

Across the capitals, results were mixed. Sydney saw an improvement in clearance rates, while Melbourne, Brisbane and Adelaide recorded weaker outcomes week-on-week. Perth remains an outlier with strong results, although volumes there remain low.

“The broader environment continues to play an important role. The recent interest rate increase and ongoing geopolitical tensions have weighed on sentiment in recent weeks. However, the reopening of the Strait of Hormuz and the resulting fall in oil prices to five-week lows may begin to ease some of these pressures. While it is too early to determine the impact on this weekend’s results, a sustained decline in fuel costs would likely support an improvement in confidence over time.”

“Overall, the data suggests a market that is becoming more selective rather than weaker. Buyer participation has declined, particularly at the inspection stage, but stable bidder numbers and continued price growth indicate underlying demand remains in place. The coming weeks will be important in assessing whether improved global conditions translate into a lift in confidence and activity,” Ms Conisbee said.

The highest sale of the day came from Sydney’s Upper North Shore, with 39 Mimosa Road, Turramurra selling under the hammer for $4.4 million. Liana Power from Ray White Upper North Shore managed the sale, with the new owners opting to buy a finished home instead of their original plan to build on a block of land.

The auction with the highest number of bidders was also in Sydney, with 61 Corunna Road, Stanmore attracting 13 registered bidders. Ray White Touma Taylor agent Walter Burfitt-Williams said the winning bidders were a lovely couple looking to restore the exquisite period home to its former glory.

The open home which attracted the highest number of attendees also came from Sydney, where Ray White Bankstown’s Anthony Roumanous welcomed 67 attendees to a three-bedroom townhouse at 7/129 Meredith Street, Bankstown.

New South Wales

Ray White NSW | ACT head of auctions Dave McMahon said auction volumes remain uneven across the Easter and Anzac Day period, with 154 auctions scheduled today.

“Auction volume remains inconsistent through the Easter and Anzac Day period, with 154 auctions scheduled today,” he said.

He said early sales activity had eased slightly compared to typical levels, while withdrawal rates remained a notable feature of the market.

“We recorded 15 per cent of properties selling prior to auction, slightly down from our typical 20 per cent. However, a standout metric continues to be the withdrawal rate, which sits at 20 per cent.”

Mr McMahon said buyer confidence has improved modestly over the past fortnight, reflected in stronger participation numbers on auction day.

“On the buyer's side, confidence has shown a modest lift over the past two weeks. Today, we averaged 4.2 registered bidders and 2.6 active bidders per auction - marking our strongest weekend in recent times.”

61 Corunna Road, Stanmore (pictured above)

• Sold under the hammer for $2.445 million

• 13 registered bidders, five active

• Lead agent: Walter Burfitt-Williams - 0402 833 566

• Ray White Touma Taylor

Walter Burfitt-Williams said the winning bidders were a lovely couple with two young children, who are looking forward to restoring the home and holding it for many years to come.

“We had 45 bids in total, opening at $1.8 million.

“The late owner had lived here for 44 years, and while the home had clearly seen better days, it remained quite grand. It really needed someone to come in and restore it to its former beauty,” he said.

“It was such a special home, and the result showed that buyers will still come for an exceptional property. The market is very dynamic at the moment, changing week to week much more than it used to.”

Mr Burfitt-Williams said the result was an encouraging sign for sellers overall.

“I’m seeing strong movement in one-bedroom apartments, with first home buyers still very active. It’s a perfect time for one-bedroom owners to consider upgrading. There are opportunities in every market - trading up in a down market can be one of the smartest moves you make.”

4/1A Caledonian Road, Rose Bay (pictured above)

• Sold under the hammer for $1.3 million

• Five registered bidders, four active

• Lead agent: Ty Demirezen - 0422 577 720

• Ray White Eastern Beaches

Ty Demirezen said the property was a standout transformation, originally serving as basement storage before being converted into a high-quality apartment.

“The sellers are a young family who transformed what was once basement storage into an impressive apartment. It’s a far cry from what it used to be, with a really high-end renovation completed for their own living.”

He said the home’s location and finish were key drawcards for buyers. “The location was what made it so special, combined with the quality of the renovation, which was done for the owners themselves.”

Mr Demirezen said the winning bidder was a first home buyer. “The sellers have one child and are expecting their second in a few weeks. They’re currently renting and will be looking to purchase again soon.”

He said current market conditions remain uneven, with some buyers taking a cautious approach. “The market is certainly patchy. I’m seeing a similar energy to 2020, where many people are waiting to see what happens next.

“I don’t believe prices at the lower end will fall significantly, and for buyers in the market now, there’s a strong case to secure something rather than waiting to see what unfolds, as we saw how crazy the market went post-2020.”

Victoria

Ray White Victoria chief auctioneer Luke Banitsiotis said vendors who set realistic expectations were well rewarded across the state’s auction market.

“The theme of the day has been that those who have listened to the market and set realistic expectations have been richly rewarded at auction today across Victoria.”

He highlighted strong competition in coastal and family home segments, including a tightly contested result in Dromana. “A hotly contested auction in Karadoc Street, Dromana saw three bidders fighting it out for a vacant block of land close to the beach and shops, eventually selling for $1,005,000.”

Mr Banitsiotis said a family home in Clarinda also attracted strong interest, with multiple bidders competing over an extended auction. “A nice and tidy family home in Clarinda saw five bidders contesting an auction that ran for almost an hour, eventually selling for $1,050,000.”

“An interesting case study occurred this week at Ray White Benalla. A declared reserve auction of $1 for an unlivable home saw over 30 registrations, eventually selling for $98,000.”

Mr Banitsiotis said the outcome highlighted the complexity of reserve pricing policy in practice. “This outcome shows that the government’s desire to push vendors to declare reserve prices may not have the impact they are hoping for. A vendor’s reserve is only a minimum figure; it doesn’t determine where an auction will run if buyers perceive higher fair value, and it won’t remove situations where buyers feel they’ve missed out.”

10 Stafford Ct Bayswater North (pictured above)

• Sold under the hammer for $960,000

• Four bidders

• Lead agent / auctioneer: Chris Watson - 0406 003 856

• Ray White Ringwood

Chris Watson said the property attracted strong interest from first home buyers and young families.

“The winning bidders were a lovely young couple who have been searching for around three months. The location worked perfectly for them, sitting between where each of them grew up and close to both families.”

He said the buyer pool for the campaign was largely made up of similar demographics.

“Most of the interest came from first home buyers and young families.”

Mr Watson said the seller was moving on after improving the home. “The vendor is upsizing. This was his first home and he completed a number of renovations himself - he’s an engineer, so he knew exactly what he was doing.”

He said buyer activity remains present, although conditions can vary depending on the property. “There are still plenty of people out there looking, but the market is a bit hot and cold. If a property misses the mark on pricing or presentation, it can be really tough.

“The key difference at the moment is making sure properties are well priced.”

Queensland

Ray White Queensland sales performance specialist and auctioneer Tom Gunness said bidder activity has remained steady across the state’s auction market this week.

“Bidder numbers remained consistent this week across auction floors in Queensland.”

He said competitive bidding has been evident throughout the campaigns he has called, with buyer confidence building during the auction process.

“Across the auctions I’ve called throughout the week and today, bidding remained competitive, with buyers seemingly gaining confidence as the auction progressed and responding to the competition being displayed.”

Mr Gunness said vendor expectations continue to play a key role in whether properties sell under the hammer.

“We remain in a market where our vendors are the key to the sale. Most vendors who receive multiple offers throughout the campaign are happy to meet the market on auction day, while vendors who have received less feedback or fewer offers seem more reluctant to accept market value.”

The Ray White Collective group held their periodic auction event today at The Calile Hotel in Fortitude Valley, reporting a 73 per cent clearance rate for the event. Approximately 40 registered bidders and many more onlookers showed up for the day.

Eight properties sold under the hammer for a combined $18.577 million. There were also a further five properties that sold prior to auction for a combined $6.040 million.

Ray White Collective principal and auctioneer Haesley Cush said today was a “roaring success.”

“We sold seven properties prior to today’s auctions, and three of them were in the last 48 hours with buyers really keen to secure them before auction. Every property, except one, had buyers,” he said.

“I was personally interested to see how the market would perform today. Given we are just post-easter and in school holidays, and the current fuel environment, the Brisbane market showed its resilience.”

“The day started really strong, with six of the first eight properties selling under the hammer swiftly. It was a really good day and great energy in the room. Three of the properties that didn’t sell were passed in to bidders who are genuinely within single digit gaps of the sellers. They are all likely to sell in the next few days.”

On a personal note. Mr Cush celebrates 30 years today with the Ray White Group

“After 30 years I feel like I have certainly gotten my rhythm! I started when I turned 18, but really I was 12 if you ask my mum who I used to help put signboards up for!”

The Ray White Collective team are hosting an exclusive event on Wednesday night to delve further into Brisbane’s property market with special guests Ray White chief economist Nerida Conisbee and Ray White Managing Director Dan White.

Results below:

24 Raven Street, Camp Hill

• Sold under the hammer for $2.715 million

• Agent: Harry Kiss

3/414 Hawthorne Road, Bulimba

• Sold under the hammer for $1.545 million

• Agent: Selina McIntyre

13/289 Queens Street, Brisbane City

• Sold under the hammer for $615,000

• Agent: Sukhrag Singh Nijjar

45 Grayson Street, Morningside

• Sold under the hammer for $1.67 million

• Agent: Zita Durand

201/48 Jephson Street, Toowong

• Sold for $612,000

• Agent: Cameron Jordan-Hawkins

5/70 Dutton Street, Hawthorne

• Sold under the hammer for $845,000

• Agent: Selina McIntyre

80 Empress Terrace, Bardon

• Sold for $1.95 million

• Agents: Josh Brown and Ruby Kiriyama-Brown

4/12 Rosina Street, Kangaroo Point

• Sold prior to auction for $880,000

• Agents: Bri Suey and Brandon Wortley

915 Cavendish Road, Mount Gravatt East

• Price withheld

• Agent: Connor Varnham

15 Astley Street, Wynnum West

• Sold prior to auction for $1.11 million

• Agent: Zoe O’Connor

137 Fernvale Road, Tarragindi

• Sold prior to auction for $1.25 million

• Agent: Harry Kiss

40 Benecia Street, Wavell Heights

• Sold prior to auction for $1.7 million

• Agents: Josh Brown and Marty Foelz

South Australia

Ray White South Australia chief auctioneer John Morris said auction activity across the state has been mixed, with Ray White continuing to grow its market presence.

“It’s been a mixed bag in terms of auction volumes in South Australia. Currently, 22 per cent of all listings are Ray White, which is up around 2.5 per cent. The broader market auction share sits at 19 per cent, or less than one in five properties, which is down 13 per cent year on year.

“Of all the auctions in South Australia, 45 per cent are Ray White, with the next closest major competitor at just 7 per cent.”

Mr Morris said while most auctions are still held on weekends across the market, Ray White agents are increasingly shifting their approach. “The majority of auctions are still called on weekends, but within Ray White that has flipped - 44 per cent of our auctions are now held during the week, compared to 28 per cent on weekends.”

He said early indicators for the weekend were strong, although some softening in bidder numbers is expected. “We’re entering the weekend with a preliminary clearance rate of about 72 per cent, with an average of seven registered bidders per auction and five actively participating.

“I’d expect that to ease slightly as the weekend progresses, as more auctions mean buyers have to choose where to focus. It wouldn’t surprise me to see participation closer to three or four bidders per auction by the end of the weekend.”

“Cotality reported a 63.6 per cent auction day clearance rate last week. Ray White recorded 71.6 per cent, while the competition sat at 49 per cent - the lowest I’ve seen from the broader market in a very long time.”

He said buyer demand remains largely driven by local owner-occupiers. “Two-thirds of buyers are owner-occupiers, with investors making up the rest, and 96 per cent are local. Competition remains strong among those looking to stay in our state, and while auction volumes may fluctuate, the fundamentals remain solid.”

“While many in the market are stepping away from auctions, Ray White is leaning in. And while others stick to weekends, our agents are choosing days that are delivering stronger clearance rates and better outcomes for clients.”

32 Wandana Terrace, Taperoo (pictured above)

• Sold under the hammer for $1.35 million

• Eight registered bidders, two active

• Lead agent: Steve Moffatt - 0418 180 157

• Ray White Semaphore

• Auctioneer: Anthony De Marco, Ray White

Steve Moffatt said the sellers were a young couple who had transformed the home in a short period of ownership.

“The sellers purchased the property a few years ago and completed a wonderful renovation. They’ve recently welcomed a baby and have decided to move back to the country to be closer to family.”

Buyer Nathan said the property appealed due to its location and lifestyle.

“This is my second property purchase, and I’m planning to live here. I sold my previous home in January.

“The location was a major drawcard; I’ve been posted here with Defence and originally come from Renmark.”

He said the auction experience required focus and discipline. “I’m really happy with how everything went. You have to stay strong with your plan when bidding at auction - it can be nerve-racking, but it’s important to stay disciplined and know your limits.”

Western Australia

Ray White Western Australia CEO Mark Whiteman said increased new listings over the past week helped drive strong buyer engagement at auction.

“With a few more listings coming to market in the past week, buyers were keen to register their interest and get amongst the bidding today.”

He said bidder activity reflected continued confidence in the local market despite broader economic pressures.

“Strong bidder numbers are underlining the resilience of the WA market in the face of rising interest rates and the rising cost of living.”

Mr Whiteman said buyers remain motivated by long-term fundamentals when making purchasing decisions.

“Today’s buyers made it clear they know buying now is the best decision for their future.”

78 Reinforcement Parade, North Coogee

• Sold under the hammer for $2.3 million

• Three registered bidders, one active

• Lead agent: Simone Glover - 0417 977 525

• Ray White Dethridge Groves

• Auctioneer: Michael Harries, Ray White

Architectural designer and seller Keith Cameron-Brown said the home was a deeply personal build, designed and constructed over several years before he and his wife moved in in late 2025.

“I have an obsession with having a lot of light in the house. Walls of glass run through all three levels, and the home is deliberately oriented at 30 degrees to capture the ocean outlook over the public open space opposite - land that can’t be built on.”

He said the home was now sold as the couple transitioned to an apartment living near the coast.

“It would suit a retired couple wanting something unique and low maintenance, a professional couple, or a young family. The park across the road includes BBQs, ping pong tables, basketball hoops, a soccer goal and a children’s playground.”

He added the nearby South Fremantle lifestyle precinct was another key attraction.

Read more about the property here.