Busiest auction week since March last year

Last week saw the combined capital city’s preliminary auction clearance rate slump to its lowest level since mid-June, coming in at 70.5%. An easing in the preliminary auction clearance trend has been evident since late September, following a cyclical high of 77.9% over the week ending September 21st. Despite this, the preliminary clearance rate has held above the decade average of 68.5% and has consistently held above the 70% mark since mid-June.

The lower clearance rate has occurred against rising volumes. The number of auctions held last week, at 3,253, was the combined capital’s highest since the week ending March 24th, 2024. The number of auctions scheduled this week is set to drop sharply to around 2,200 as Melbourne pauses for the Spring Racing Carnival. Auction volumes are set to bounce back next week with around 3,200 homes currently scheduled for auction over the week ending November 9.

Melbourne had a huge week of auctions, with 1,835 homes taken under the hammer last week. This was the city’s highest weekly volume of auctions since December 2021 at the height of the pandemic housing boom. Melbourne’s preliminary clearance rate eased back to 71.8%, the city’s lowest in three weeks, but is still well above the decade average of 68.7%. Less than 500 homes are scheduled for auction this week in Melbourne due to the Spring Racing Carnival.

Last week, 959 homes were taken to auction in Sydney, down from 1,079 a week earlier. Sydney’s preliminary clearance rate dropped back to 68.2% last week, the lowest since the week ending June 8th earlier this year and marks the first time the preliminary clearance rate has been below the 70% mark in 21 weeks. The number of auctions is set to bounce higher across Sydney this week, with around 1,200 homes scheduled to go under the hammer.

Brisbane hosted 190 auctions last week, down from 200 the week prior. So far, 73.5% of auctions have reported a successful result, the city’s highest early clearance rate in six weeks.

There were 159 homes auctioned in Adelaide last week, with 70.8% reporting a positive result based on the collection to-date — Adelaide’s lowest preliminary clearance rate in eleven weeks.

Last week saw 88 auctions held across the ACT, down from 103 the week prior. So far, only 59.4% of auctions have reported a successful result, the territory’s lowest preliminary clearance rate since the week ending June 22, 2025.

So far, eight of the 12 auction results reported in Perth were successful, while the two results reported in Tasmania were also successful.