3 days ago
How ‘boring' homes are winning Melbourne auctions
Melbourne's auction market is showing no signs of slowing down this winter, with buyers pressing ahead despite a pause in interest rate cuts and a seasonal dip in listings.
The city recorded a solid 69.3 per cent clearance rate from 322 reported auctions, with 223 homes selling under the hammer, according to PropTrack.
Several standout results helped drive momentum, including a $3.75m sale at 8-10 Maltravers Rd, Eaglemont, and $2.22m deal at 47 Belford Rd, Kew East.
A character home at 44 Victoria Grove, Brunswick fetched $1.99m, while 3/8 Stewart St, Pascoe Vale sold for $850,000 following a short and competitive campaign.
Ray White Victoria chief auctioneer Jeremy Tyrrell said school holidays and the Reserve Bank's interest rate hold didn't dampen demand.
'Competition continued to dominate across the state,' Mr Tyrrell said.
'We saw midweek auctions really firing too — our Ballarat team sold nine of 10 properties on Tuesday night alone.'
Buxton Mount Waverley director Peter Serafino said buyers were showing a renewed appreciation for quality construction.
'Older homes are proving their worth,' Mr Serafino said.
'Buyers are realising they often offer better land, better locations and far better build quality than many new estates,' Mr Serafino said.
Across Melbourne's suburbs, agents reported high energy among first-home and second-home buyers looking for move-in ready properties with long-term potential.
Apollo Auctions Victoria director Andy Reid said straightforward family homes — not flashy architect-designed builds — were performing strongest in today's market.
'It's the 'boring' stuff that's going well — and I mean that in the best way,' Mr Reid said.
'Three-bed, two-bath, single-storey homes in suburbia — they're easy to understand and easy to buy.
'Meanwhile, high-spec two-storey homes and some developer stock are struggling.'
Mr Reid said timing of the auction day mattered less than expected.
'One of my best results came from a 9.30am auction last Saturday,' he said.
'We smashed the quoted range by $150,000.
'Later auctions that day struggled.'
Looking ahead to FY26, Mr Reid predicted a steady market unless multiple rate cuts reignite urgency.
'The first cut didn't move much, the second one started to. But with rates now on hold, we risk losing that momentum,' he said.
'Unless the next cut lands soon, it might feel like we're starting from scratch.'
