Preliminary clearance rates stay strong as listings drop
Auction volumes declined across Australia’s capital cities last week, with a total of 1,786 homes taken to auction – marking the lowest level since the King’s Birthday long weekend.
While lower than recent weeks, the figure was slightly above the 1,776 recorded during the same period in 2024.
According to Cotality analyst Caitlin Fono (pictured), 73.1% of homes have reported a successful result so far, down from 74.5% the week prior, noting that the previous week’s figure was later revised to 67.9%, the highest final clearance rate since March 2024. She added that the clearance rate has held above the 70% mark for the past four weeks and across eight of the past 10 weeks.
Melbourne remained the busiest market, though its auction volumes dropped to 756 from 962 a week earlier. The city’s preliminary clearance rate improved slightly to 75.5%, continuing a trend of strong performance, with rates above 70% for 10 consecutive weeks and over 75% for the past three.
Sydney followed with 691 auctions, down from 771 the previous week. The city posted a preliminary clearance rate of 72.5%, just below the 73.5% recorded earlier, which was later revised to 67.2%. “Sydney’s preliminary auction clearance rate has held above 70% for the past four weeks but has consistently tracked below Melbourne’s,” Fono said.
Among the smaller capitals, Brisbane led in volume with 155 auctions. The city recorded a preliminary clearance rate of 70.8%, slightly below the previous week’s 76.1% but still above the 70% mark for a second week running.
Adelaide saw 102 homes taken to auction, with a preliminary success rate of 65.7%. In Canberra, 69 properties went under the hammer, with 73.1% reported as sold – the territory’s highest preliminary clearance rate since mid-March.
Auction activity in Perth remained limited, with only five results reported and three successful sales. Tasmania saw one auction reported, which did not sell.
Auction volumes are expected to dip further, with around 1,445 homes scheduled for auction this week. However, a slight rise to roughly 1,500 listings is forecast for the following week.
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