Combined capital cities clearance rate remains below 60%

Across the combined capital cities, the preliminary auction clearance rate saw a slight increase last week, reaching 58.2%, up from the 57.5% low recorded the week prior in the wake of policy changes in the 2026-27 federal budget. Despite this modest improvement, the rate has stayed under the 60% benchmark for six of the last eight weeks. These figures were based on 2,339 auction listings, which represented a 19% weekly volume increase but was 4.9% below the volume recorded during the same period last year.

Last week, Melbourne saw 1,043 properties taken to auction, a 13.6% increase in volume compared with the week before. While the preliminary clearance rate of 60.2% was a slight decrease from the previous week's 61.4%, it remained above the 60% threshold for the second week in a row.

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Sydney saw 823 homes go to auction last week, up by a third on the previous week when 619 auctions were held. The preliminary clearance rate posted a solid rise to 56.9%, recovering from 49.2% the week prior (similar to lows last seen during the early stages of the pandemic). Although the clearance rate lifted, the result remained soft, with the early clearance rate sitting below 60% in eight of the past nine weeks.

Brisbane hosted 194 auctions, a 7.2% rise on the previous week but 5.4% lower than a year ago. The preliminary clearance rate came in at a soft 45.7%, the lowest early auction outcome for Brisbane since April 2023.

In Adelaide, auction volumes experienced an 8.8% decline from the preceding week, with 135 properties listed for sale. The preliminary clearance rate of 72.0% remained the highest among all capital cities, despite a decrease from the 75.7% recorded during the previous week.

In Canberra, auction activity surged with 131 homes entering the market, a notable increase from the 69 auctions held the week prior. Despite this rise in volume, the preliminary clearance rate remained steady at 54.3%, showing little change from the previous week's 54.0%.

With just over 2,750 properties currently scheduled for auction, volumes are expected to rise significantly this week. Both Sydney and Melbourne are expected to see significant market activity, with each city having over 1,000 properties scheduled for auction.