Rise in available stock placing downward pressure on clearance rates
Preliminary auction clearance rates across Australia's combined capital cities eased to 52.4% this week, down from 53.2% a week earlier, according to data from property intelligence firm Cotality.
The result is expected to soften further once finalised, echoing last week's downward revision from 53.2% to 48.2%.
The dip in clearance rates coincided with a pickup in auction activity. A total of 1,482 capital city homes went under the hammer this week, up 6.6% on the week prior, as vendors began listing ahead of the spring selling season, which traditionally runs from September through November.
"While activity is beginning to rise into the spring selling season, buyer demand remains measured, with the rise in available stock placing renewed downwards pressure on clearance rates," said Tim Lawless (pictured), head of research at Cotality.
Despite the uptick in listings, auction numbers remain well below last year's levels, down 32.3% on the same week in 2025. The softer trend persisted through the winter months, with capital city auction volumes finishing the season 18% lower than winter 2025. The annual decline was most pronounced in the largest markets, with winter auction numbers down 25% in Sydney, 19% in Melbourne and 14% in the ACT.
The preliminary clearance rate had briefly improved through mid-August, rising above 55% over the weeks ending 9 August and 16 August, before easing again this week as the flow of new stock outpaced buyer demand.
Melbourne and Sydney lead a mixed capital city picture
Melbourne remained the busiest auction market, with 653 auctions held this week, a 9.9% rise on the previous week but almost 40% fewer than a year ago. The preliminary clearance rate eased for a third consecutive week to 54.9%, down from 55.4% the week prior, and well below the recent peak of 60.8% recorded over the week ending 9 August.
Sydney hosted 516 auctions, up 8.2% week-on-week but 36.3% lower than the same week last year. The preliminary clearance rate slipped marginally to 56.3% from 56.6%, though the city has now held above 55% for four consecutive weeks, one of the more resilient runs among the major capitals.
Smaller markets diverge as Adelaide climbs and Brisbane slides
Brisbane recorded the weakest performance among the major auction markets. Its preliminary clearance rate fell to 31.5%, down 8.9 percentage points from 40.4% the previous week, the lowest early result since the first week of July, even as auction volumes eased only slightly to 149, up 21.1% on the same week last year.
Adelaide held 105 auctions, a 16.7% rise on the week prior, with its preliminary clearance rate softening to 50.8%, down 4.1 percentage points week-on-week. The ACT held 48 auctions, 27% fewer than the previous week, with its preliminary clearance rate holding relatively firm, up 30 basis points to 41.7%. Only nine auctions were held in Perth and two in Tasmania, volumes too low for a statistically reliable clearance rate.
A deepening buyer's market
The rise in listings alongside softer clearance rates points to a market where sellers are testing conditions early rather than waiting for confirmation of a stronger spring. With more stock reaching auction floors, buyers are gaining a degree of leverage in negotiations.
That shift is also shaping activity beyond the auction room. Cotality's data lands as more vendors and buyers explore bridging finance to manage the gap between buying and selling, a trend brokers say is becoming more common as settlement timing grows less predictable in a softer clearance environment.
Cotality expects the rebalancing to continue in the weeks ahead, with auction volumes forecast to keep climbing through early spring.
