Preliminary clearance rates stay above 70% despite fewer auctions
Auction activity across Australia’s capital cities declined last week, with 1,581 homes taken to auction – a 7.5% decrease from the previous week and 11.1% lower than the same period last year.
According to property data firm Cotality, reduction in auction numbers reflects a broader trend of below-average new property listings throughout the year.
The combined capitals’ preliminary clearance rate edged down to 72.3%, compared to 74.7% the week before, which marked the highest rate since July 2024. Despite the slight drop, clearance rates have remained above 70% for eight consecutive weeks.
Melbourne saw 739 homes go to auction, a 6% fall from the previous week. The city’s preliminary clearance rate was 71.8%, the lowest in three weeks but still above the 70% threshold since early May.
In Sydney, 568 auctions were held, representing a 4.9% week-on-week decline. Preliminary results show a 74.9% clearance rate, the third highest so far this year and the eighth straight week above 70%.
Brisbane recorded 128 auctions, down from 187 the previous week. The city’s preliminary clearance rate was 71.1%, maintaining its position above 70% for a second consecutive week.
Adelaide hosted 83 auctions, a slight increase from 80 the week before. The preliminary clearance rate dropped to 65.1%, the lowest since early June.
The Australian Capital Territory (ACT) held 55 auctions, up 12.2% from the previous week. However, the clearance rate fell to 65.8% from 73.7%.
Perth saw just eight auctions, with two of three reported results indicating a successful sale. No auctions have been held in Tasmania for the past two weeks.
Auction volumes are expected to remain stable this week, with about 1,570 homes scheduled. Numbers are forecast to rise to around 1,900 next week.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
