A Divided Picture: Preliminary Clearance Rates Split Across the Capitals Post-Easter

Across the combined capitals, the preliminary auction clearance rate rose slightly from the lows of the Easter long weekend, up from 55.5% the week prior to 57.9% last week.  This was the second week running where the early auction clearance rate has held below the 60% mark.

The volume of auctions jumped 176% from the week prior, which was low due to the Easter break. 1,899 homes were taken to auction across the capital cities.  Outside of seasonal events, the volume of auctions has been tracking substantially higher than a year ago since the first week of March.

890 homes were auctioned across Melbourne last week, a 489% jump on the week prior’s volume. The preliminary clearance rate came in at 57.8%, down from 58.3% the week prior and the lowest early clearance rate since the last week of September 2024. This was the second week in a row where Melbourne’s preliminary clearance rate has been below 60%.

Sydney saw 692 homes go under the hammer last week, a 79% increase from the preceding week. The preliminary clearance rate ticked a little higher, rising from 53.4% to 54.4%, the third week in a row where the preliminary clearance rate has held below 60%.

Adelaide was the most active auction market across the smaller capitals, with 124 homes taken to market. The preliminary clearance rate, at 70.8%, was a sharp rise from the week prior’s 57.7%, and the highest of any capital city.

116 homes were auctioned across Brisbane last week, recording a preliminary clearance rate of 60.9%, up from 55.7% the week prior.

63 auctions were held across the ACT, with 66.7% reporting a successful result so far, up from 61.3% the previous week.

Perth recorded 13 auctions, with 60% selling on the early results, and only one auction was held in Tasmania.

This week is set to see a further rise in the volume of auctions held, with approximately 2,650 homes scheduled to go under the hammer. Both Sydney and Melbourne have more than 1,000 homes set to go under the hammer.