Melbourne auction hammers mostly fell on the side of sellers, despite growing expectations of an interest rate hold on Tuesday reducing registered bidders.

A looming public holiday for the Melbourne Cup and grim inflation figures experts believe have ruled out an interest-rate cut on Tuesday did little to hurt home sales yesterday.

But they might have scared off a few buyers.

PropTrack data shows 65.4 per cent of 408 auction results reported yesterday ended in a sale, in a preliminary clearance rate that suggests buyer demand hasn’t shifted from where it has been throughout spring.

But separate data from Victoria’s biggest real estate firm, Ray White, shows the number of registered bidders fell from 3.4 per cent to 2.7 per cent in the past week.

RELATED: RBA rate cuts: Warning over ‘nightmare scenario’ ahead

Victorian coastal ghost towns in top 10 regions for unoccupied homes

Shocking daily rise in Aussie land prices set to worsen housing crisis

Sales performance executive Jake McIntyre said with their internal clearance rate above 70 per cent, slightly above the trend for the year so far, the buyers who did proceed this week were “probably the most serious”.

Mr McIntyre said both the inflation data released last week showing a rise in the consumer price index which most experts have said means the Reserve Bank is now unlikely to cut rates on Tuesday, as well as the long weekend could have clipped registered bidder numbers.

29 Audley St, Coburg, was among the top results for Ray White yesterday, sold under the hammer for $1.025m — with six bidders in attendance.

PropTrack senior economist Eleanor Creagh said home prices in Melbourne were likely to continue climbing across the rest of the year, even if the Reserve Bank did not cut interest rates further.

This suggests sellers will remain in control even if buyers don’t get another budget boost before Christmas.

However, Real Estate Institute of Victoria acting chief executive Jacob Caine said he had heard from agents across the city that many sellers had sought to get sales locked in ahead of auction, rather than risk passing in over the weekend and losing momentum if the Reserve Bank holds mortgage costs steady on Tuesday.

24 Chapman Blvd, Glen Waverley, was Melbourne’s highest priced auction sale reported to PropTrack, with a $3.701m result.

“But given the context of a virtual long weekend and the commentary around monetary policy, I would consider a mid-high 60s clearance rate result to be a success,” Mr Caine said.

While the number of auctions testing the market was down this week, PropTrack forecasts show it is expected to spike back up to more than 1500 auctions for each of the next two weekends.

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

MORE: Essendon legend Simon Madden lists family home for $2.6m+

Alfred Deakin’s Point Lonsdale home listed for sale

‘Definitely’: Scott Cam confirms if he’ll quit Block

The post Melbourne auction market’s weird response to inflation data appeared first on realestate.com.au.

The Hills Shire is the fastest growing local government area in NSW, with major developers racing to build communities as population forecasts surge.

The Hills Shire Council 2025 plan spotlights a 4.36 per cent growth between 2022 and 2023 compared to the average 2.77 per cent growth rate of Greater Sydney.

The NSW Government forecasts The Hills will be home to 328,635 people by 2041, a 71 per cent increase to the 192,660 current approximate population.

One of the forces driving the increase in the housing projects.

Daiwa House in partnership with Odakyu The Hills Carmel in Box Hill is a 233 hectare masterplanned community offering both house and land packages and established homes to buyers in the area.

MORE: ‘Iconic’ and tightly-held homes sell across Sydney

The Hills of Carmel a masterplan community by Daiwa house Australia.

The Hills of Carmel streetview

Daiwa House Australia marketing and sales manager Hiroki Sakashita said The Hills Shire continues to shine as one of Sydney’s most sought-after regions, offering families exceptional lifestyle surrounded by nature, quality education and an ever-growing range of amenities.

“Backed by the trusted expertise of Japan’s Daiwa House and Odakyu, this community is designed to foster belonging, where tree-lined streets, nearby schools and thoughtfully planned open spaces create a place for families to grow and thrive,” Mr Sakashita said.

Nearby, the GPT Group has greenlit a $200m transformation of Rouse Hill Town Centre expanding its fashion, dining and leisure options in the rapidly growing north west.

MORE: Gross pest taking over Aussie suburb

GPT Group Rouse Hill Town Centre render

“The Hills District population is growing at five times the Sydney metro areas and the Rouse Hill Town Centre is the heart of the community,” GPT chief executive officer Russell Proutt said.

The project is currently one year from completion and will add more than 10,500 sqm of retail space bringing over 50 new shops representing GPT’s largest retail development in a decade.

SHAWOOD by Sekisui House Australia have also released its next stage of its masterplan The Orchards in Norwest.

“The reality is that NSW continues to face a significant housing shortfall, with demand consistently outstripping supply,” Craig Barnes sales and marketing director of Sekisui House Australia said.

The Orchards in Norwest

The Orchards interior

“It’s encouraging to see so many families exploring new areas of Sydney and embracing the opportunity to be part of a growing, thriving region – where quality housing and community-focused living go hand-in-hand.

“We know that Australian families value proximity to nature, and The Gables and surrounding Hills area has so much to offer by way of outdoor activities, with cycling and running tracks, wetlands and a riparian corridor.

“Residents enjoy the convenience of modern infrastructure alongside the natural beauty and open space that define the broader Hills District lifestyle.”

Shalini and Clement residents of SHAWOOD The Gables are currently based in Dubai and will be moving into their new home in December.

“When we started looking for a new place, we were really drawn to the Hills District because it’s so scenic and feels more residential and relaxed compared to other parts of Sydney,” Shalini said.

Shalini and Clement are currently based in Dubai and moving into their new home in December.

“It’s not super commercial, which is exactly what we wanted.

“Plus, having a many family members already living nearby in the Hills Shire made the decision a lot easier, it felt like moving somewhere familiar.

“We love how peaceful and green the Hills District is.

“It’s such a nice spot for families with parks and open spaces all around.”

Shalini said the community vibe, makes it feel like home already.

“We love the Vineyard – such a family friendly place for entertainment,” she said.

“Bobby Bake house too has a pop up in the area, Wolly’s has opened its doors in the Gabels town center which is perfect for the area, we have most necessities sorted, what’s not to love.”

Clement said what is really exciting is that The Gables is still growing at a great pace with Stockland developing the area.

“We are aware of the master plan for the Gables area,” he said.

“There are some great plans coming up like a new town center, two lakes, lots of daycares and early learning centers, a Catholic school, and heaps of sports and fitness facilities.

“It’s awesome to be part of a community that’s growing with so much thought and care.”

MORE: Iconic Sydney diner-cafe’s future at risk

The post Hills District population booms as developers rush projects appeared first on realestate.com.au.

The despair of failing contestants was palpable in The Block finale this year, and experts believe it was set in motion by a series of dud calls by the show. Supplied: Channel 9.

The Block’s winning auctioneer and a top Victorian real estate expert have revealed the show’s auction wipe out was a “phenomenal result” that could easily have been worse.

With a litany of mistakes kicking off when the site was bought a year before contestants started work, it was lucky to get three homes sold.

PropTrack data has raised questions over why the auction-centric show targeted a town where there had been just three other homes auctioned this year, and a total of four in the past 22 months.

RELATED: ‘Out of touch’: Block auction slammed

2026: Block losers face brutal pay wait

How one Block judge predicted huge auction fail weeks ago

New Property Investment Professionals of Australia chair and prominent Victorian buyer’s advocate Cate Bakos said they would have almost immediately sidelined a local market by picking an area with such limited auction experience.

Ms Bakos said it was “1000 per cent” a misstep to try and use an auction sale in “an area that’s not receptive to it”.

“You have got to do your research and I don’t think they did, or they didn’t care about the local market,” she said.

“I doubt that they even had a vague bit of interest from local buyers.”

Britt and Taz’ celebrate their win after selling to an investor buyer. Picture: Channel 9.

Prominent buyer’s agent Cate Bakos said bad decisions made leading up to The Block auctions were a “cocktail of despair”.

Noting the homes were also near a “gigantic intersection”, Ms Bakos said everything about this season appeared to have been “poorly done” including: buying in a regional area near its peak, selling near the bottom of the market and overcapitalising on the builds in between.

“Everything about it was a cocktail of despair,” she said.

Ms Bakos added that trying to sell five very similar homes in such a short span using a sales method ill-suited to an area not used to such volume at the same time, the show had likely been lucky it hadn’t been an even weaker result.

One positive for the show was getting the order of homes right as they went under the hammer on the day, which ensured the best of bidding early on — and helped the contestants who did succeed.

The Block contestants Emma and Ben missed out under the hammer, with experts noting their reserve was too high as one of a littany of mistakes by the show.

However, she did note there was some credit due as The Block’s purchase in Mt Eliza for next season appeared far more sensible — though only if they opted to create family homes that would suit affluent buyers and complement elite schools in the suburb.

The Block’s Daylesford winning auctioneer Mark Nunn, who helped Britt and Taz’ to a $420,000 above reserve result, said all things considered only two auctions stalling was a good result for the season after producers overpriced the homes by about $400,000.

“If you look at it objectively, and strip the TV part out, to sell three houses under the hammer at auction for more than $3m there is a phenomenal result,” Mr Nunn said.

“The price was wrong. The houses were great houses, they were just too high on the price. Had they priced them as we were instructing them to, we would have sold them all under the hammer.”

Buxton Ballarat’s Mark Nunn believes auction reserves were set too high on The Block’s Daylesford season.

The Daylesford house of The Block contestants Han and Can is still for sale a week after the auction for the home on the show ended with it passing in.

The agent said they had been advocating a $2.6m reserve, not anywhere near $3m, and that he believed the three $3m-plus sales would still have occurred with lower asking prices and that the “whole narrative around the success of the show would have been different”.

Mr Nunn added that even the two other results achieved should have been celebrated, with $100,000 above reserve usually a cause for cheers for typical home sellers.

“It’s just because of recent years when bidding just got out of control … which is great for a couple of seasons, but it’s not reality,” Mr Nunn said.

Mr Nunn said while the local stats said auctioning wasn’t always the best way to go in Daylesford, the prospective buyers were all interstate or out of Melbourne and with the TV component it could still have worked — with lower reserves.

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

MORE: The Block auctioneer reveals what it costs to appear on the show

The Block: fate of the two homes that failed to sell revealed

‘Definitely’: Scott Cam confirms if he’ll quit Block

The post The Block Daylesford: three sales a lucky result after major mistakes appeared first on realestate.com.au.

Gary and Lesleigh Kacin are taking their Camp Hill home to auction for the first time since 1991, Camp Hill. Picture: Liam Kidston

Listings by homeowners aged over 60 who have owned their homes for more than 25 years have jumped 20 per cent across Brisbane in the past year, marking first signs of movement in some of the city’s most tightly held suburbs.

The shift counters a decade-long national slide in the number of homes coming to market, as tight rental conditions and limited downsizing options keep older homeowners in unsuitable family homes.

Place Advisory research shows a wave of Baby Boomers are finally handing over keys to a new generation in popular pockets including Camp Hill, Norman Park and Coorparoo, and middle-ring areas such as Holland Park, where the over-65 population has declined by up to 10 per cent over five years.

A beloved trophy home is for sale via a top offers campaign in Norman Park

Typical sellers who purchased their properties between the 1970s and 1990s are collecting up to 30 times their original price, with a Brisbane house bought for $25,000 in 1975 now valued near $900,000.

Older homeowners are capitalising on brisk market conditions to list during the traditional spring selling season, driven by cost-of-living pressures, the burden of larger homes, and a desire to unlock decades of equity for retirement.

While the decision to downsize often takes 3-4 years, policy measures like the superannuation downsizer contribution of up to $300,000 for over-55s have fuelled the trend.

This English cottage-style house was designed by renowned Brisbane architect EP Trewern and held by his own family until now

Place Bulimba agent Shannon Gordon said listings in these sought-after areas remained scarce, sparking fierce competition among younger families keen to buy into established school catchments.

“We’re seeing a genuine generational handover,” Ms Gordon said.

“The long-term owners who built these communities are finally ready to move on, and that’s creating openings for young families who never thought they’d be able to buy into these areas.

“The homes that shaped Brisbane’s character are passing to the next wave of families who will shape what comes next.”

Despite the shift, family homes remain rare. Nationally, just 470,000 homes were listed last financial year — down 20 per cent on 2016, despite population growth of more than four million.

This four-bedroom house in Wishart was under contract ahead of its scheduled auction date

LJ Hooker’s Australian Listings Report 2025 shows just 4 per cent of the country’s 11.3 million dwelings were listed in FY25, 6 per cent less than a decade ago.

In Brisbane, listings were about 10 per cent below their 10-year average, with regional Queensland 15.8 per cent short.

The shortage was attributed to a combination of cautious sellers holding onto low-rate loans and a lack of suitable new supply.

“Many homeowners are staying put due to a lack of suitable alternatives,” the report noted.

“A tight rental market and limited downsizing options are freezing turnover.”

In the inner city hotspot of Camp Hill, median house prices have almost doubled over the past five years to $1.76m, with desperate buyers stumping up a premium price.

The Kacins plan to retire by the beach. Picture: Liam Kidston

MORE NEWS

Rapid home overhauls in popular suburb

School teachers’ big move for next-gen buyers

Land prices skyrocket: See how much your suburb has jumped

This demand is playing out for longtime residents, Gary and Lesleigh Kacin, who are moving for the first time in 35 years after listing their Queenslander home at 32 City View Rd for auction.

Ms Kacin, a former school teacher, said she was nervous about taking the property to auction, hopeful of a result that would allow them to afford an oceanview unit on the southern Gold Coast.

“I’ve never sold a home before so I am a bit anxious but excited,” Ms Kacin said.

“But we are empty nesters now and it is time to get to the beach.

“We haven’t found our next home yet, but the plan is that whatever we get for here, we will spend on a place down the Coast so that we don’t have to dip into our super.”

32 City View Rd, Camp Hill is on the market for the first time in more than 30 years

In nearby Coorparoo, an English cottage-style house designed by esteemed Brisbane architect E.P. Trewin and held by his own family since 1931 is also going under the hammer.

Belle Property Coorparoo agent Jonathan Harper-Hill, who is marketing the four-bedroom home at 183 Chatsworth Rd, said his agency was yet to register a significant uptick in listings.

“This is a very sentimental sale of a very beloved family home,” Mr Harper-Hill said.

“For a lot of older homeowners, there is a feeling of when you are in a beautiful house in a fantastic area, why move?”

The home attracted strong interest from buyers appreciating Trewin’s traditional style, its sale sparked by the architect’s son, who had lived there his whole life and recently moved into a retirement facility.

PropTrack data shows Kenmore Hills is Queensland’s most tightly held suburb with residents staying an average 21 years.

Other sticky suburbs included Yeerongpilly (19 years), Wishart (19 years) and Battery Hill (18 years), while unit owners in Ferny Grove stayed 19 years.

PropTrack senior economist Eleanor Creagh at the Future Brisbane event. Picture: John Gass

PropTrack economist Eleanor Creagh said these long ownership patterns had helped insulate suburbs from price shocks by restricting supply.

“Longer hold periods of 19 to 21 years signal low turnover, likely of family-size homes,” Ms Creagh said.

“This can constrain supply and keep a floor under prices in desirable, well located and amenity-rich suburbs where many remain in place for longer.”

In the past 12 months, around 11 per cent of Brisbane suburbs have recorded a decline in their over-65 population, notably in Holland Park West, Geebung, and Cleveland.

Cleveland and other Redland City suburbs averaging more than 8,000 homeowners aged over-50 have seen listing times fall to around 30 days.

The capital released through downsizing was often reinvested locally, with many sellers relocating to single-level dwellings, premium apartments, or nearby lifestyle precincts such as Woolloongabba, East Brisbane, and the bayside.

It’s estimated that if just 10 per cent of Queensland’s empty-nesters downsized, around 22,000 homes could return to the market, significantly easing supply pressure.

The post Boomers drive surprising shift in tightly held suburbs appeared first on realestate.com.au.

A Melbourne real estate agent has revealed interstate investors are scooping up western suburbs homes before locals get a look in.

But the sellers agreeing to it might be costing themselves $50,000 or more, close to a year’s wage for some vendors, by not making their home available to the wider market.

YPA Wyndham City auctioneer Abdul Merabi said a growing share of agents in Hoppers Crossing and surrounding suburbs where home prices typically topped out at $700,000 were selling homes off market to interstate investors — without every publicly advertising the sale.

RELATED: How Melbourne investor got $475,000 home with no contest

Tiny, 5m-wide home scores $1m+ result

RBA rate cuts: Warning over ‘nightmare scenario’ ahead

While this could result in rapid, and easy sales for vendors, Mr Merabi noted it wasn’t always in the best interest of the seller.

Yesterday the agent sold 30 Thorpe Ave, Hoppers Crossing, under the hammer for $685,000, with four bidders vying for the three-bedroom house.

The sum was $65,000 above the home’s reserve price — and a similar figure beyond the best offers made by investors before the home went on the market and eventually under the hammer.

30 Thorpe Ave, Hoppers Crossing, is among the increasingly few homes in its price point to hit the open market in recent months.

Inside, the decor is still retro, right down to the red carpets.

An investor still claimed the keys, and Mr Merabi said he didn’t recall the last house he’d sold to an owner occupier in the area within the $500,000-$700,000 price bracket.

He estimated properties in that affordable band had posted a 5 per cent increase in the past three months — largely driven by investors.

“There are enough buyers and clients to sell to this way (off market),” Mr Merabi said.

“Every single property I list in Hoppers Crossing at these prices I am confident I can sell within a week.

“But sometimes we try that investor market and the price is still a bit lower than we think it should be and so we go to the wider market — and we get a higher result.”

The agent estimated that in many instances home sellers could be shorting themselves close to $50,000 or $60,000 by taking an offer before really considering if an off-market offer was really the best they would get.

The issue is believed to be prevalent across Melbourne’s most affordable suburbs, with prices typically under $800,000.

“And that extra $60,000 isn’t huge for the agent, but for the owner it could be close to their annual wage,” Mr Merabi said.

Property Home Base founder and buyer’s agent Julie DeBondt-Barker said the problem was right across Melbourne suburbs with median house prices below $800,000, with interstate buyer’s agents often overpaying for homes.

“It’s really wrong,” Ms DeBondt-Barker said.

“The sad thing is the homebuyers in Victoria are losing. The first-home buyers are getting pushed out, and they might be thinking it’s just really quiet — and not knowing the off-market sales are there.”

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

MORE: Shocking number of Victorian households in mortgage, rental crisis

Luxury wellness spa, hotel for Geelong heritage landmark

‘Definitely’: Scott Cam confirms if he’ll quit Block

The post Melbourne’s west: Off-market sales rob sellers of $50k premium appeared first on realestate.com.au.