Capital city clearance rates hold in the low 50% despite a lift in auction volumes

Auction volumes have increased modestly over the past two weeks, rising by 4.0% last week following a 4.8% lift two weeks ago to reach 1,421 events. That said, these increases came off a relatively low base, and auction volumes have remained consistently below levels recorded a year ago, with volumes last week 16.9% lower than the same period in 2025.

The preliminary clearance rate has remained in the low 50% range over the past three weeks, edging up to 52.4% last week. This was an increase of 2.4 percentage points from the previous week's 50.0% and 5.0 points above the recent low of 47.4% for the week ending June 21.

An improvement in the withdrawal rate helps explain the lift in clearance rates. Withdrawn auctions had risen to 24% of all scheduled auctions over the week ending June 21 but reduced back to 17.4% last week. The withdrawal rate remained elevated relative to 2025, when on average 11.8% of auctions were being withdrawn.

Melbourne held 707 auctions last week, up 18% from the previous week but 10.1% lower than the same week last year. The preliminary clearance rate declined by 1.9 percentage points to 54.6%. After reaching a low of 50.2% for the week ending June 28, the rate has remained in the mid-50% range over the past four weeks.

433 auctions were held in Sydney last week, a 2.3% week-on-week reduction and 27.5% lower than at the same time last year. The preliminary clearance rate rose to 56.1%, a solid bounce from the 47.4% recorded the previous week. That rise came despite 29.8% of scheduled auctions being withdrawn from the market. Of the successful Sydney auctions, 63.4% sold before the property went under the hammer.

In Brisbane, 134 homes were auctioned last week, representing an 18.3% decrease from the previous week and a 28.3% decline compared with the same period last year. The preliminary clearance rate fell to 30.5%, a decrease of 5.4 percentage points and the second lowest preliminary result recorded this year.

Adelaide was one of the few markets busier than a year ago, with its 99 auctions almost 24% above the same time in 2025, though down 10% on the previous week. The preliminary clearance rate dipped to 52.6%, down 2.3 percentage points and the third lowest preliminary result so far this year.

At 53.1%, the ACT reported its strongest preliminary rate in nine weeks. The territory held 38 auctions last week, 9.5% fewer than the previous week and 22% fewer than the same time last year. Perth held 10 auctions last week, with only 25% reporting a positive result, and no auctions were held in Tasmania.

The number of auctions is expected to increase this week, with approximately 1,570 homes currently scheduled for auction.