Capital city volumes contract year-on-year as Melbourne and Sydney lead decline
Auction activity across Australia's combined capital cities declined in the week ending 16 August 2026, with the weighted average final clearance rate retreating to 48.9% after reaching a 12-week high the previous week.
A total of 1,276 auctions were held across the combined capitals, down 7.7% from 1,382 the week prior and 33.6% lower than the 1,921 recorded in the same period a year earlier. The clearance rate fell 2.5 percentage points from the previous week's 51.4% and was 20.9 percentage points below the 69.8% recorded a year ago, indicating that fewer than half of reported auctions resulted in a sale.
Melbourne hosted 588 auctions, down 10.8% from 659 the previous week. Its clearance rate eased 3.9 percentage points to 52.9%. Sydney's auction volume was broadly unchanged at 412 from 410, but its clearance rate fell more sharply, declining 4.4 percentage points to 47.1%. Both cities are well below year-ago levels: in the equivalent week last year, Melbourne held 932 auctions with a clearance rate of 69.1%, and Sydney held 705 with a rate of approximately 71.7%.
Among the smaller capitals, results were mixed. Canberra posted the highest clearance rate of any capital at 53.5%, up 6.7 percentage points, though only 43 auctions were held. Adelaide's rate rose 4.4 percentage points to 51.2% across 84 auctions. Brisbane's clearance rate was relatively steady at 35.9%, up 0.5 percentage points from 142 auctions, while Perth's rate rose from 22.2% to 33.3% from nine auctions — a result of limited statistical significance. Tasmania recorded no auctions.
The annual weakness was concentrated in Melbourne and Sydney, where both volumes and clearance rates fell sharply. Cotality attributed the results to the broader softening in housing conditions through 2026, noting that the cash rate has remained at 4.35%, borrowing capacity is constrained, national dwelling values have fallen in recent months, affordability remains stretched, and buyer demand is subdued.
Weekly clearance rate, combined capital cities
Source: Cotality • Week ending 16 August 2026
Scheduled volumes across the combined capitals are set to rise to 1,416 this week, up 11% from the previous week but 31.5% below the 2,066 auctions held in the same period last year. Approximately 1,125 of the 1,416 scheduled auctions — close to four in five — are set for Saturday.
Melbourne leads with 565 scheduled auctions, down 3.9% from last week and 42.6% below the year-ago total of 985. Sydney has 526 auctions scheduled, the largest weekly increase among the capitals, up 116 from the previous week, though still 27.8% below the 729 held in the same week last year.
Canberra's scheduled volume rises from 43 to 67, the largest proportional increase of any capital, though still 10.7% below year-ago levels. Brisbane and Adelaide have 153 and 92 auctions scheduled respectively, each up modestly on the prior week. Perth has 12 and Tasmania one auction scheduled.
The year-on-year shortfall remains concentrated in Melbourne and Sydney, which together account for 623 fewer scheduled auctions compared with the same week in 2025. Cotality forecasts volumes to rise to approximately 1,550 the following week before easing to around 1,300 in the week ending 6 September.
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