Clearance rates edge higher amid increased auction activity
Auction numbers increased across Australia’s major cities last week, with 2,251 properties auctioned—a 9% rise from the previous week and the highest total since early June, according to property data firm Cotality.
The preliminary clearance rate across the combined capitals reached 76.3%, up from 75.3% a week earlier. The previous week’s finalised rate of 70% was the highest since February 2024.
Melbourne saw 1,124 auctions, marking a 14.1% increase week-on-week. The city’s preliminary clearance rate was 74.9%, slightly lower than the 75% or higher rates seen in the two weeks prior.
Sydney hosted 825 auctions, a 13.2% increase and the highest weekly figure since mid-June. The city’s preliminary clearance rate surpassed 80% for the first time since April, reaching 80.3%.
Brisbane led the smaller capitals in auction volume, with 124 homes auctioned despite a 26.6% decrease from the previous week. The city’s preliminary clearance rate improved to 64.5%, up from 60.8% the week before.
Adelaide recorded 106 auctions, a 7.1% increase from the previous week. Of the results collected so far, 75% were successful.
The ACT held 63 auctions, a 16% decline on the previous week, with 76.7% of reported auctions resulting in a sale.
In Perth, three of the five reported auctions were successful. Tasmania saw one reported auction, which was passed in.
“Auction activity is set to reduce a little this week, with around 2,150 auction events currently scheduled across the combined capitals, before rising to about 2,400 next week,” said Caitlin Fono (pictured top), analyst at Cotality.
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