Clearance rates remain stable
Australia’s capital city auction activity climbed last week to its highest level since the lead-up to Easter, with 1,784 properties going under the hammer, according to Cotality’s latest data.
The weekly total was up 11.8% from the previous week but remains significantly lower — down 20.3% — compared to the same time last year, when housing market conditions were stronger.
Despite the rise in volumes, clearance rates held relatively steady. The preliminary national clearance rate reached 70.2%, slightly above the prior week’s 70.1%, though analysts caution this figure may be revised downward once final results are tallied.
Melbourne hosted the highest number of auctions among the capitals, with 830 properties listed — up from 776 the week before. The city’s preliminary clearance rate edged down to 73.2%, from 74.4% the previous week. Still, this marks Melbourne’s second strongest preliminary result this year.
In Sydney, 665 homes went to auction, an increase from 562 the previous week, Cotality reported. However, the city’s clearance rate dipped to 67.7%, down from 69.4%, and has now stayed below the 70% mark for eight straight weeks.
Adelaide reported 116 auctions last week, the highest among smaller capital cities. Of these, 66.7% have sold based on preliminary figures—an improvement from the previous week’s 60.0%, and the strongest showing in three weeks.
Brisbane saw a modest increase in activity, with 109 homes auctioned, up from 104. The clearance rate reached 69.7%, the highest recorded in the city since August 2023.
In Canberra, activity dipped slightly to 50 auctions, compared to 54 the week prior. The ACT’s preliminary clearance rate also fell to 62.9% from 69.4%.
Perth recorded seven auction results, with six sales, while Tasmania’s two reported results were both unsuccessful.
Looking ahead, Cotality expects roughly 1,600 homes to be auctioned this week, with volumes forecast to rise to around 2,200 the following week.
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