Mona Vale's prestige Northern Beaches market of Sydney lit up on Saturday as a rare deep-waterfront home changed hands for a staggering $9.7 million, more than five times its last sale price.

The architectural residence at 68 Rednal Street, known as Zero Degrees, was offered for the first time in 21 years. Back in 2004 it sold for $1.9 million, but this time around demand was fierce. LJ Hooker listing agent Lachlan Elder said the property was "a rare find in the market," and the crowd of 50 that gathered under a warm sun knew they were witnessing something special.

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The auction began slowly as six registered bidders sized each other up. "It was a cautious start, with everyone waiting to see who would kick it off," Elder said. The opening call came at $8 million, then the pace quickened with bids in $50,000 and $25,000 jumps.

Momentum built as the field narrowed, leaving two determined contenders to fight it out for the waterfront prize. From the north-facing terrace to the private jetty, pontoon and heated pool, the home delivered everything buyers could dream of in Pittwater living.

When the hammer finally fell, the $9.7 million result underscored the strength of the Northern Beaches prestige market and the allure of once-in-a-generation offerings. With soaring ceilings, a designer kitchen, and a master retreat gazing across Pittwater, Zero Degrees proved irresistible to buyers chasing luxury, lifestyle and an address that rarely comes to market.

Capital city auctions surged this week, lifting volumes to a seven-week peak with clearance rates climbing strongly after the August rate cut. Sydney held 720 auctions this week, up 29.5 percent, the highest since June. Preliminary clearance hit 75 percent, the third-strongest result this year.

Victorian crowd-puller smashes expectations with rapid-fire bidding landing on $2.53m

A double-fronted Victorian in Malvern drew a buzzing crowd and delivered a steadfast result on Saturday, with bidding soaring to $2.53 million before the hammer fell.

The home at 63 Dixon Street, set on 401 square metres just steps from Malvern Public Gardens, had already built serious momentum. "Pre-auction saw 83 groups come through," said Marshall White listing agent Davide Lettieri, who described the property as "neat, tidy, liveable" and "a lot of house for the price." With that kind of lead-up, he predicted a "competitive auction" and the scene didn't disappoint.

Around 50 people packed into the backyard as the clouds hung heavy overhead, the weather just holding back. Bidding opened at $1.9 million, then surged in rapid-fire $25,000 jumps. By the time the figure reached $2.4 million, the pace shifted to $10,000 strides, the tension building as three determined bidders vied for the keys.

In the end, the gavel came down at $2.53 million, the prize claimed by an expat buyer returning from overseas. For the vendor, who had held the house as an investment, it was a strong result that underscored the property's value and untapped potential.

With its Victorian faade, dual living zones and scope for renovation or a full-scale rebuild, the Dixon Street address struck a chord with buyers chasing character and location. Malvern's leafy streets, elite schools and café culture once again proved their pulling power, with this auction marking another lively chapter in the suburb's market story.

Capital city auctions surged, lifting volumes to a seven-week peak with clearance rates climbing strongly after the August rate cut. Melbourne led with 961 auctions, up 29.5 percent week-on-week, and a 75.5 percent preliminary clearance rate.

Renovated Wendouree home proves 'you must be present to win'

A fully refreshed family home in Wendouree fired up buyers on Saturday, with seven bidders grinding it out before the gavel dropped at $535,000.

The solid brick property at 11 Huntington Street in outer Melbourne, set on 613 square metres, had caught the eye of mixed bidders in the lead-up. Ray White listing agent Cameron Webb said "pre-auction got great feedback from first time buyers and investors," noting the home's strong location backing onto Our Lady Help of Christians Primary School and minutes from Stockland Wendouree.

Webb described the three-bedroom home as "a great opportunity". He said "all the hard work has been done. It's been well looked after." He added that "great positioning grabbed the attention of buyers," and the pre-auction interest proved it.

Forty people gathered kerbside as the action unfolded, with four bidders joined by phone from across the country, adding to the fever. "It was intense bidding with so many agents holding phones to their ears with one hand and paddles in the other," Webb said. The atmosphere was charged, but the eventual buyer was standing right there, pushing ahead until the hammer fell.

"It was great to see a local take home the keys for the win," Webb said. For Wendouree, the sale marked another strong result in a pocket that continues to draw attention from near and far.