Melbourne suburbs record shock 65 per cent auction surge

Savage spring auctions loom as Melbourne suburbs record shock surges of up to 65 per cent. Picture: Tony Gough

Melbourne homebuyers are bracing for savage spring auctions, as suburbs post shock price surges of up to 65 per cent in just three months.

New PropTrack data reveals Bulleen units have rocketed 65.6 per cent in a single quarter, while Sandringham houses are up 37.6 per cent, Macleod homes 36.9 per cent and Fitzroy 34.7 per cent.

Albert Park, Caulfield North, Hughesdale and West Footscray also recorded explosive quarterly gains above 30 per cent.
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The mix spans prestige, bayside and family-friendly suburbs — Sandringham’s leafy blocks near the bay, Macleod’s reputation for schools and transport, Fitzroy’s cafe and cultural pull, and Albert Park’s cachet as an inner-city playground for cashed-up professionals.

The hottest of them all, Bulleen, has now been thrust further into the spotlight, not just by buyers, but by television.

LMCT+ boss Adrian Portelli, famed for his mega-auction splurges on The Block, has snapped up two neighbouring homes at 54-56 Pinnacle Cres, bought for $1.38m and $1.375m, to feature in Channel 7’s new renovation series My Reno Rules.

Filming starts this month, with the show due to premiere in 2026.

Portelli, who stormed out of The Block earlier this year, will hand the fully renovated homes to winners through his LMCT+ promotions business.

The entrepreneur has built a cult following through luxury car giveaways and mega-prizes, and his push into prime-time television signals a new phase in his high-profile property play.

LMCT+ boss Adrian Portelli has snapped up two homes for Channel 7’s My Reno Rules after his headline-grabbing exit from The Block. Picture: Rohan Kelly.

Heavyside Boroondara director Tim Heavyside says smart buyers are circling Bulleen as multibillion-dollar infrastructure transforms the suburb. Picture: Heavyside Real Estate

Heavyside Boroondara director Tim Heavyside said Bulleen’s turnaround was no surprise as he recently sold a property in Iliad Court, Bulleen, for $1.78m which drew fierce competition.

“Bulleen has been under-appreciated for a while, but smart money is moving back in,” Mr Heavyside said.

“It’s close to the CBD, it’s got huge infrastructure upgrades coming, and once the $16.5 billion North East Link and Eastern Freeway widening are finished in 2028 anyone who bought in early will be sitting on significant capital growth.”

Mr Heavyside added the combination of new parklands, the new Eastern Busway and the Koonung Creek Trail would turbocharge demand.

The new Eastern Busway is part of a $16.5 billion upgrade alongside the North East Link and Eastern Freeway widening. Picture: Victoria’s Big Build

Filming starts this month in Bulleen for Channel 7’s My Reno Rules, with the series due to premiere in 2026.

“From a real estate perspective, it makes perfect sense for a renovation show to choose Bulleen,” he said.

“The growth potential is enormous.”

PropTrack economist Anne Flaherty said Melbourne’s market had turned a corner after years of flatlining.

“Confidence is definitely starting to return, particularly in Melbourne,” Ms Flaherty said.

“Strong auction volumes this early in spring suggest momentum is building, and it’s only likely to ramp up further.”

Ms Flaherty said interstate investors were also continuing to swoop into Melbourne after cashing in on huge gains elsewhere.

PropTrack economist Anne Flaherty says confidence is roaring back as strong auction volumes set the pace for spring.

“Two years ago, Melbourne was the second most expensive city after Sydney,” she said.

“Today, we’re the third cheapest, with only Darwin and Hobart below us.

That shift has put Melbourne firmly back on investors’ radar.”

Mortgage Choice broker Rhys Elmi said buyers in fast-growth suburbs needed to be auction-ready.

“An auction campaign might start with a guide that looks affordable, but within weeks prices are flying well past reserves,” Mr Elmi said.

“The key is preparation — know what’s sold in the past fortnight, not six months ago. Don’t expect a bargain in a suburb that’s just posted a 30 to 60 per cent spike.”

Mr Elmi said unconditional buyers were often trumping higher offers with finance clauses.

Mortgage broker Rhys Elmi warns buyers in fast-growth suburbs to be auction-ready as prices outpace reserves.

“Unconditional offers are winning properties, even over bigger offers with strings attached,” he said.

“The only way to compete is to be pre-approved and ready to move.”

This weekend nearly 1178 auctions are scheduled across Melbourne, with Reservoir (26), Glen Waverley (18), Mount Waverley (18) and Richmond (18) among the busiest hubs.

Next week’s 1324 auctions represent an 8 per cent fall year-on-year.

Ms Flaherty added that auction activity is tipped to peak in October and November, similar to previous years.

F18whpro Generic image of various auctions in Canterbury, Melbourne. Real estate. House auction. Pic. Mitch Bear

Upgraders, downsizers and interstate investors are fuelling Melbourne’s fiercest auction season in years. Picture: Mitch Bear

“November is consistently one of the busiest months for property sales,” she said.

“Buyers have shaken off the winter break, sellers are racing to list before Christmas, and momentum is at its peak.”

Traditionally, Melbourne’s Super Saturdays in November see more than 1500 auctions in a single weekend, with clearance rates acting as a bellwether for the year ahead. Property experts tip if market momentum carries through this spring, 2026 could open with Melbourne’s strongest start in years.

Auction hotspots: Suburbs surging in 90 days

Suburb	Property Type	Sales (12 mths)	Median Price	3-Month Change
Bulleen	U	51	$900,000	65.60%
Darley	H	169	$645,000	41.20%
Sandringham	H	97	$2,100,000	37.60%
Macleod	H	87	$1,085,000	36.90%
Caulfield North	H	115	$2,215,000	35.40%
Mount Helen	H	59	$625,000	34.90%
Fitzroy	H	78	$1,710,000	34.70%
West Footscray	U	142	$496,500	34.10%
Hughesdale	U	69	$745,000	33.60%
Albert Park	H	76	$2,200,000	30.00%