Nearly two thirds of Melbourne home sellers who went to auction last week sold, despite having to reveal their reserve prices early. Greater Melbourne recorded a preliminary clearance rate of 60.1% from 539 auctions, according to realestate.com.au. A three-bedroom townhouse in Reservoir sold for $831,000 after attracting five registered bidders, with a young couple buying their first home. The agent lowered the reserve after buyer feedback and then agreed to $795,000 with the owners. Nationally, the preliminary clearance rate was 41.5% from 1,593 homes scheduled for auction.
A Canberra property at 6 Heales Place in Curtin sold for $2,010,000 at auction, with the sale handled by Rick and Tina Meir from Home by Holly. The result was reported as part of a weekly roundup of Canberra auction outcomes for the period from 19 to 25 October 2026. Across the region, 23 auctions were scheduled over the past week.
A first home buyer paid $1,305,000 at auction for a two-bedroom apartment in Alexandria, $55,000 above the reserve. The converted warehouse apartment at 2/145 Belmont Street drew 30 people and five active bidders. Across Sydney, 561 properties were scheduled for auction this week. In Mosman, a five-bedroom home at 36 Medusa Street passed in at $9.85 million after only one registered party failed to bid. In Huntleys Cove, a downsizer paid $1.97 million for a ground floor apartment, $20,000 above reserve.
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Darwin is recording the strongest property market in the country, with house prices rising while other capital cities slump, according to Cotality. Cotality head of research Gerard Burg said limited supply and years of slow building have supported prices, and the number of buyers has fallen as more owners list their homes. Burg warned that a possible interest rate rise in November could bring Darwin into the wider national downturn. Darwin also remains expensive for renters, with median rents up about 11.6 per cent over the year to September and a vacancy rate of about 1.9 per cent.
A family from Williamstown bought a renovated double-fronted Victorian home in Newport for $1.79 million after auction on Saturday. The property at 32 Speight Street had a $1.8 million reserve. It passed in on the family's $1,735,000 bid before the sale was negotiated. Domain recorded a preliminary clearance rate of 53 per cent for the week. Agents said turnkey homes are selling well, while homes needing work are more difficult to sell.
A Port Melbourne house with a concrete and fibreglass facade sold for $1.252m on Saturday. The two-bedroom home at 29 Little Cruikshank St was designed by architect Robert McIntyre as an industrial modernist tribute. Marshall White agent Nicholas Hoo said a buyer made an offer at the first inspection, and the house then went to auction with four bidders. In Mont Albert North, a family home at 19 Arnott St sold for $1.62m after passing in on a $1.6m bid. Damian Corney, founder of design company Grafico, said he started his business from the garage there.
A family from South Strathfield paid $3.1 million at auction for a four-bedroom Federation-era home at 62 O’Connor Street in Haberfield, $200,000 over the reserve. The new owners said the market had opened up some areas to buy. In Croydon Park, a two-bedroom semi sold for $1.3 million, $150,000 below its reserve, with a single bidder. In Woolooware, a family from Dulwich Hill bid against themselves to buy a three-bedroom townhouse for $1.43 million, below its $1.52 million reserve.
Five Sydney homes currently on the market stand out for their striking design. Hunter House in Annandale has a contemporary Gothic facade, six-metre ceilings and a four-car garage. In Concord, a new double-brick home has curved lines, arched windows and a circular swimming pool. A converted heritage building at Breakfast Point offers a two-level residence with arched steel windows and Country Club membership. A contemporary terrace in Wollstonecraft has five bedrooms, while a Gordon property sits on about 1650 square metres with a tennis court and pool.
Buyers are backing out of home deals at the last minute as property markets cool, leaving vendors to relist their homes, according to the Real Estate Buyers Agents Association of Australia. REBAA president Zoran Solano said some deals have collapsed even after auctions, as buyers fear overpaying or prices falling further. Solano said collapsed sales can cost vendors momentum, extra marketing expenses and a stigma when a property returns to market. Westpac research found many Australians see now as a bad time to buy or sell, while InfoTrack reported buyers moving to regional areas as borrowing power weakens.
