Preliminary results from Cotality show clearance rates falling to their lowest level since April 2020, as both volumes and buyer confidence retreat heading into winter
Australia's combined capital city auction market recorded its weakest clearance rate of the year last week, with data from Cotality pointing to a widening gap between vendor price expectations and buyer capacity.
A total of 1,880 homes went to auction across the combined capitals in the week ending 22 June, down 10.3% from the 2,095 reported the week prior and 6.2% below the 2,004 auctions held in the same period in 2025. The weighted average clearance rate finalised at 42.3%, a fall of six percentage points from the 48.3% recorded the previous week.
"The last time clearance rates fell to this level was 26 April 2020 (41.1%) a time when the Australian auction market was substantially disrupted by strict social distancing policies and a sharp deterioration in market confidence, resulting in a breakdown in normal auction activity," said Annabelle Mezieres, economist at Cotality.
"Since the commencement of Cotality's auction results in 2008, clearance rates have been this low across only three periods previously: in 2011 and 2018 as the housing market was navigating a downturn, and during the early onset of the COVID-19 pandemic when the auction dynamic was severely disrupted."
A four-week rolling average also shows the weighted average clearance rate trending downward, indicating the weakness is not confined to a single quiet week. The trend has been building since earlier this year.
Sydney recorded the sharpest volume decline, with 642 homes taken to auction — 17.9% fewer than the 782 recorded a week earlier. The final clearance rate fell 5.5 percentage points to 41.7%, from 47.2%. Withdrawals were a notable feature, with 178 of the 642 scheduled auctions (27.7%) pulled from the market, suggesting vendors are increasingly reluctant to proceed in the current environment.
Melbourne showed greater resilience on volume, with 923 auctions held compared with 975 the prior week, a decline of 5.3%. However, the clearance rate dropped sharply by 8.3 percentage points to 43.6%, from 51.9%. In Melbourne's case, the weakness was driven more by passed-in properties than withdrawals, with 393 of the 923 listings (42.6%) failing to attract a successful buyer. Combined, pass-ins and withdrawals accounted for 1,085 of the 1,880 national auctions, or 57.7% of results.
Brisbane held 144 auctions, a marginal increase from 142 the previous week, but the clearance rate fell four percentage points to 35.4%, from 39.4%. It was the fourth consecutive week Brisbane recorded a clearance rate below 40%.
Adelaide and Canberra were the only markets to post modest clearance rate gains, each against lower auction volumes. Adelaide's rate rose 2.2 percentage points to 48.4%, while Canberra's improved 4.5 percentage points to 41.3%. Perth hosted 15 auctions with a clearance rate of 23.1%. No auctions were held in Tasmania.
Weekly clearance rate, combined capital cities 
Source: Cotality
Cotality estimates approximately 1,780 auctions are scheduled across the combined capitals this week, around 5% below last week's count and roughly 12% below the equivalent week in 2025, when 2,044 auctions were scheduled.
Sydney accounts for approximately 690 auctions, up 7.8% on last week's 642. Melbourne is the primary driver of the national decline, with approximately 770 auctions scheduled — around 16% below last week's 923 and 19.9% short of the 962 held during the same week last year. Together, Sydney and Melbourne represent approximately 82% of scheduled national activity.
Brisbane has around 130 auctions on the calendar, a 6.3% reduction from last week and approximately 4% below the same period in 2025. Adelaide is bucking the trend, with just over 120 auctions scheduled — a 30.1% increase on last week's 93. Canberra volumes have fallen below 50 auctions, down from 63 last week and 67 at the same time last year. Perth has 15 auctions scheduled, unchanged week-on-week. Tasmania has no scheduled auctions.
Cotality estimates approximately 1,400 auctions are likely to be scheduled the following week, with volumes expected to ease further through winter.
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