Easter delivers lowest preliminary clearance rate in almost four years

694 auctions were held last week, with auction volumes impacted by the Easter long weekend. Despite the lower activity, the number of homes taken under the hammer was 7.8% higher than the Easter week last year, when 644 homes went to auction.

The preliminary auction clearance rate fell sharply, reaching 55.5%, down from 60.9% the previous week (later revised lower to 52.7% on final numbers). This marked the lowest preliminary clearance rate since July 2022, and the first time the early clearance rate had fallen below the 60% mark since December 2022.

Sydney hosted the most auctions last week, with 389 homes taken to market, 8.4% higher than the Easter week last year. Around 53.4% of auctions reported a successful result, the lowest preliminary clearance rate since the first week of July 2022.

Melbourne saw 152 homes auctioned, 2.7% higher than the Easter week a year ago. The preliminary clearance rate came in at 58.3%, the lowest since September 2024, down from 63.5% the previous week (later revised down to 54.2% once finalised).

In Brisbane, 66 auctions were held, 10% more than Easter last year, returning a preliminary clearance rate of 55.7%. This was down from 58.9% the previous week and represented the lowest early clearance rate since the first week of December last year.

Adelaide hosted 53 auctions, 10% more than Easter a year ago. The preliminary clearance rate slipped to 57.7%, the lowest level since the week ending June 1 last year.

Across the ACT, 31 homes were auctioned, with a preliminary clearance rate of 61.3%, a lift from the 51.3% early clearance rate recorded the previous week.

Auction volumes are expected to bounce back this coming week, providing a clearer indication of housing market conditions, with approximately 1,990 homes scheduled to go under the hammer.