Slight drop but auction market still strong
Sydney's auction clearance rate fell two points to 82 per cent, according to data from Australia Property Monitors, while Melbourne posted 75 per cent, up one point from last weekend.
Sydney's inner west continued to perform strongly. The most expensive house sold at the weekend was 97 Newton Road in Strathfield, which fetched $3.22 million through Devine Real Estate.
Reece Theedam, from Haus Real Estate, sold 7 Myrna Road in Strathfield for $2 million.
Strathfield's good private and public schools and university attract strong buyer demand, he said.
"Doctors have kept Strathfield alive," he said. "My last few transactions were all to doctors.
"What's happened out here is the market's been very hot, but some buyers are starting to back off because they think it's too hot."
And the more expensive the properties, the fewer the bidders.
Jake Rowe from McGrath Manly did not get a single bid for a harbour front property at 99 Stuart Street, Manly. It passed in at $3.4 million.
"We're in negotiations with three buyers," Mr Rowe said. "It's much harder to get people to put their hands up at that level."
In Melbourne, Chinese buyers keen to pursue the lucky symbols associated with a property in the city's eastern suburbs helped push its price $150,000 past the reserve over the weekend.
There were 10 bidders for 98 Shafer Road, Blackburn North - which is on 588 square metres - many of them attracted by the auspicious number eights in its address.
Fletchers director Tim Heavyside said the price was a record for Shafer Road and while Blackburn is very popular, this house "attracted huge Chinese interest because it featured so many number eights".
Also in Melbourne, the Elsternwick mansion owned by nightclub owner Nick Zampelis passed in on a vendor bid of $6 million. The eight-bedroom house at 30 Elizabeth Street is on a 2947 square metre block. Biggin & Scott agent Bill Stavrakis said the property had a reserve of $5.95 million. He is in negotiations with three parties who had all expressed interest before the auction.
Frequently Asked Questions about this Article…
Australia Property Monitors reported Sydney's auction clearance rate fell two points to 82% while Melbourne's rose one point to 75%. For everyday investors, clearance rates indicate auction demand: a high rate suggests strong buyer interest, while small weekly moves can reflect short-term buyer caution rather than a market reversal.
The article notes strong demand in Sydney's inner west, particularly Strathfield, where good private and public schools and a nearby university attract buyers. Local agents, including Devine Real Estate (selling 97 Newton Road for $3.22 million) and Haus Real Estate (7 Myrna Road for $2 million), cited steady purchaser interest from professionals such as doctors.
Yes. The piece highlights that more expensive properties tended to attract fewer bidders. For example, a harbour-front property at 99 Stuart Street, Manly, passed in at $3.4 million with no initial bids, and the listing agent said it's harder to get buyers to actively bid at that price level.
Buyer sentiment matters: some buyers are holding back to avoid 'stoking a new boom,' which can cool bidding intensity. The article quotes agents saying the market has been very hot and that a portion of buyers are backing off because they think prices are too high, affecting turnout and bidding behavior at auctions.
Cultural preferences can influence demand: in Melbourne's eastern suburbs, Chinese buyers showed strong interest in an address featuring multiple number eights, helping push 98 Shafer Road well past its reserve. That sale attracted 10 bidders and set a record price for the street, according to Fletchers' director Tim Heavyside.
When a property 'passes in' it means it didn't sell under the hammer; often negotiation follows with interested parties. The article gives two examples: 99 Stuart Street passed in at $3.4 million and the agent reported negotiations with three buyers, and the Elsternwick mansion passed in on a $6 million vendor bid with the agent negotiating with three parties—showing post-auction deals are common opportunities.
The article mentions several agencies and agents: Devine Real Estate (sold 97 Newton Road), Haus Real Estate and agent Reece Theedam (sold 7 Myrna Road), McGrath Manly and agent Jake Rowe (99 Stuart Street), Fletchers and director Tim Heavyside (98 Shafer Road), and Biggin & Scott agent Bill Stavrakis (Elsternwick mansion). These examples show active agency involvement across price points.
Short-term auction fluctuations—like a two-point drop in Sydney or a one-point rise in Melbourne—are normal and can reflect temporary buyer caution or local factors. Everyday investors should focus on broader trends (sustained clearance rates, local fundamentals such as schools and transport) and individual property characteristics rather than single-week moves.
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