Preliminary clearance rate rises to 70.1%; weekly auctions top 2,200
Australia’s property auction market saw a sharp rebound in activity and clearance rates last week, with all major capital cities reporting stronger results following a subdued performance during the King’s Birthday long weekend.
Preliminary data from Cotality shows the combined capital city auction clearance rate lifted to 70.1%, recovering from 63.8% the week prior (which was later revised down to 60.7%). Auction volumes also climbed significantly, rising 61% week-on-week. A total of 2,216 properties were taken to auction across the capitals, up from 1,373 in the previous week.
Melbourne recorded the highest number of auctions, with 1,030 homes listed. The preliminary clearance rate reached 72.2%, continuing a streak of results above the 70% mark for seven consecutive weeks.
Sydney followed with 836 scheduled auctions. Its early clearance rate improved to 70.5%, marking only the second time in 13 weeks it has surpassed the 70% threshold.
“The auction market bounced back last week, driven by the return to normal trading conditions post-long weekend,” said Caitlin Fono (pictured), research analyst at Cotality. “Melbourne and Sydney both reported improved clearance rates and strong volumes.”
In Brisbane, 127 homes went under the hammer, with a preliminary clearance rate of 61.4%. Adelaide hosted 133 auctions, achieving a 67.1% clearance rate — the city’s highest in three weeks.
Auction activity in the ACT also picked up, with 79 homes taken to market and a 60.7% success rate. Perth saw 11 auctions, with five of 10 reported results resulting in sales. Tasmania held no auctions during the week.
Looking ahead, auction volumes are expected to dip slightly, with around 1,850 capital city auctions scheduled for the current week, and a slight rise to 1,960 forecast for the next.
“Despite seasonal fluctuations, clearance rates are holding firm, which suggests buyer confidence remains resilient,” Fono said.
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