Clearance rates and listing volumes soften across capital cities as seasonal slowdown takes hold
Auction volumes across the combined capitals declined last week, with 2,932 properties taken to auction – an 8.1% fall compared with the previous week. Activity is expected to slow further in the coming days, with scheduled auctions projected to drop to roughly 1,330 before easing to very low levels over the Christmas–New Year period and resuming in mid-January.
The preliminary clearance rate across the capitals slipped to 62.7%, down from 63.5% the previous week, which later revised to 57.7% once all results were collected. This is the lowest preliminary reading since the week ending Dec. 8, 2024.
Analysts attribute the decline in volumes largely to the usual year-end seasonal pattern, but note that the trend in clearance rates points to softer market conditions rather than calendar effects alone.
Loss of momentum
Cotality’s high-frequency daily Home Value Index (HVI) indicates a clear loss of momentum in price growth through December, particularly in Sydney and Melbourne. Over the past four weeks, Sydney’s daily HVI has been flat, with a four-week change of 0%, while Melbourne’s four-week growth rate has slowed to 0.1%.
Source: Cotality
In Melbourne, auction activity remained the busiest in the country, with 1,474 properties going under the hammer last week. That figure represents an 8.8% decline in volume from the previous week. Despite the lower activity, the city’s preliminary clearance rate was little changed at 65.7%, up 20 basis points from 65.5% a week earlier.
Sydney recorded 966 auctions, a decrease of 11.3% on the previous week. The city’s preliminary clearance rate fell to its lowest level since the week ending 8 December, with 58.1% of reported results indicating a successful outcome. This is 3.4 percentage points below the prior week’s preliminary figure of 61.5%.
In Brisbane, 184 auctions were held, two more than the previous week. Of the results reported so far, 60.3% were successful, representing a 5.6 percentage point improvement on the previous week’s outcome.
Adelaide hosted 153 auctions, a 5% reduction in volume week-on-week. The city’s preliminary clearance rate edged lower by 1.2 percentage points to 69.7%.
Canberra was the only capital to record a notable rise in activity, with 137 auctions conducted last week – a 24.5% increase on the prior week. Clearance rates also strengthened, with the preliminary figure rising 3.9 percentage points to 59.6%.
In Perth, 18 auctions were held, with 46.2% of reported results indicating a sale. No auctions were recorded in Tasmania over the same period.
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