Strong results signal renewed buyer interest despite lower winter volumes
Australia’s capital city auction market recorded its strongest preliminary clearance rate since July 2024, according to new data from property research firm Cotality.
A total of 2,040 homes went under the hammer last week, marking a 6.6% decline in activity from the previous week and a 5.1% drop compared to the same period in 2024. Despite fewer listings, early clearance figures showed 73.9% of homes sold – a notable rebound from 63.8% two weeks earlier over the King’s Birthday long weekend.
“The combined capital’s preliminary auction clearance rate came in at 73.9% last week – the highest reading since July last year,” said Caitlin Fono (pictured), research analyst at Cotality.
Melbourne saw the largest number of auctions, with 947 properties taken to market. The city achieved a 76.6% preliminary clearance rate, its highest since May 2023. Only Adelaide reported a stronger result, with 77.5% of auctions recording successful outcomes – the best result for the South Australian capital since early April.
Sydney followed closely with 789 auctions, returning a 73.5% early clearance rate. “This was Sydney’s highest preliminary clearance rate since the week ending February 23,” said Fono, referring to the week following the first Reserve Bank rate cut this year.
Brisbane reported a 66.7% clearance rate from 152 auctions, the city’s best outcome in over a month. The ACT, however, remained below the national average, with 55.3% of 64 auctions returning positive results.
Auction numbers are expected to remain steady this week, with about 2,080 homes scheduled. Volumes are likely to dip below 1,800 next week, as colder weather and mid-winter holidays begin to slow market activity.
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