Success rates remain above 70% in key markets amid growing activity
Preliminary auction clearance rates in Australia’s capital cities continued their upward trend last week, reaching a high not seen since early July 2024.
According to property data firm Cotality, the combined capitals recorded a preliminary clearance rate of 74.5%, up from 73.9% the previous week.
The rise in success rates came alongside a moderate lift in activity, with 2,103 homes going under the hammer – a 4.9% increase from the prior week and 3.6% higher than the same period last year.
Melbourne led the country in auction volumes, holding 1,000 auctions. Despite a slight pullback from the previous week, the city maintained strong buyer interest.
“Melbourne’s preliminary clearance rate held above the 70% mark for the ninth week in a row,” said Kaytlin Ezzy (pictured), economist at Cotality. Early results show a 75.2% success rate.
Sydney also saw continued strength, with 784 homes auctioned – slightly above the 778 the week before.
“Last week was the third consecutive week where Sydney's preliminary clearance rate has been above the 70% mark,” Ezzy said. Preliminary data shows 73.5% of Sydney auctions resulted in a sale, mirroring the prior week.
Among the smaller capitals, Brisbane reported 143 auctions, with a preliminary clearance rate of 76.1% – its strongest showing since July 2024. Adelaide followed with 97 auctions and a success rate of 80.8%, while Canberra held 66 auctions with 63.8% resulting in a sale.
Auction activity is expected to ease in the coming weeks. “Cotality is expecting the volume of auctions to dip a little, with approximately 1,770 homes currently scheduled to go under the hammer,” Ezzy said. Numbers are forecast to fall further to around 1,430 in the following week.
Final clearance rates typically adjust lower as more results are collected.
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