Bidder numbers strengthen, though the market stays subdued
Cotality Australia head of research Tim Lawless (pictured) said the combined capital city preliminary clearance rate rose 5.8 percentage points to 58.5% — its strongest showing in 19 weeks — up from a softer 52.7% recorded the previous week.
The rise came from a low base, however: the rate remains well below the 74.8% recorded a year earlier, and auction volumes are down 33.6% on the same week last year, the fifth straight week of annual declines.
Melbourne posted the strongest preliminary clearance rate of any capital at 63.3%, a 24-week high, while Sydney reached a 19-week high of 59.6%. Brisbane recorded the lowest clearance rate among the capitals at 41.6%, despite a 16.8 percentage point year-on-year improvement.
The figures point to buyer appetite returning ahead of confirmed borrowing capacity gains.
Company-level data shows bidder depth building
Separate figures from Ray White's own book showed national clearance improving to 48.8% for the week, with active bidders per property lifting to 1.9.
Ray White Group CEO of performance Thomas McGlynn said "there was a bit more confidence showing through in the market this week, particularly in the way buyers were engaging and competing."
South Australia illustrated the trend most clearly, with bidder registrations doubling week-on-week to four per auction.
Ray White South Australia chief auctioneer John Morris said "auctions provide a defined timeline, an unconditional contract and a transparent process that allows the market to determine the strongest possible results."
Headline sale caps the week
The week's standout result was a $17 million Federation-era estate in Brisbane's Ascot, which sold under the hammer after four registered bidders competed for the keys.
"You simply couldn't replace this house even if you tried," said Matt Lancashire of Ray White Collective Luxury, who handled the sale.
For brokers, rising bidder numbers alongside still-subdued clearance rates suggest market confidence is building in stages. That confidence will be tested at the RBA's next cash rate decision on 29 September, with all four major banks now forecasting a hike before year-end.
