Fewer auctions, higher clearance rate and reserves go public in Victoria

Auction market activity remained subdued last week, with fewer auctions held and a higher preliminary clearance rate.

Across the combined capitals, 1,423 homes went to auction last week, 18.6% fewer than the 1,749 held the previous week and 45.8% lower than the 2,626 held in the same week last year (w/e 19 October 2025). Since mid-August, auction volumes have been more than 30% lower than the same week last year, and last week’s fall was the largest in that period. Melbourne accounted for most of the weekly decline, with 203 fewer auctions than the previous week out of a combined capitals fall of 326. The drop coincided with the introduction of reserve price disclosure requirements in Victoria.

Based on 1,084 results collected, the combined capital weighted average preliminary clearance rate was 51.2%, a rise of 2.4 percentage points on the previous week’s preliminary result of 48.8% and the highest preliminary clearance rate in four weeks. Through spring to date, the preliminary clearance rate has averaged 52.0%, slightly below the winter average of 52.3%.

Melbourne experienced a significant decline in auction volumes during the initial week of Victoria’s reserve price disclosure requirements. The city hosted 500 auctions, compared with 703 in the previous week and 1,142 in the corresponding week last year. Melbourne’s preliminary clearance rate reached 56.2%, based on 411 collected results, representing a 1.4 percentage point increase from the previous week’s 54.8% and the highest rate observed in four weeks.

Sydney held the most auctions of any capital last week, with 574 homes taken to market, 9.2% fewer than the 632 of the previous weeks and 46.8% lower than the 1,079 held in the same week last year. Its preliminary clearance rate rose 1.7 percentage points to 54.6% (from 52.9% the previous week) but remained below the spring-to-date average of 55.5%.

Brisbane had the lowest preliminary clearance rate of the capitals at 31.5%, with 35 of 111 reported results successful. Brisbane’s result was 10.1 percentage points higher than the previous week’s 21.4% but 36.3 percentage points lower than last year's 67.8% for the same week. Auction volumes were lower, with 164 homes taken to market compared with 197 the previous week and 200 in the same week last year.

Adelaide was the only mainland capital where auction volumes were higher than last year. The city hosted 119 auctions, 13.8% fewer than the 138 of the previous week’s but 35.2% more than the 88 held in the same week last year. Its preliminary clearance rate fell 10.4 percentage points from 46.8% the previous week to 36.4%, below the spring-to-date average of 44.6%.

Fifty-two auctions were held in Canberra, 20.0% fewer than the 65 auctioned the previous weeks and 49.5% fewer than the 103 held in the same week last year. At 65.9%, Canberra’s preliminary clearance rate was the highest of the capital cities, up 29.5 percentage points from the previous week’s 36.4% and the city’s strongest result since mid-April.

Of Perth’s 13 auctions, 11 results were reported, and four were successful. Tasmania held one auction.

Approximately 1,240 auctions are scheduled across the combined capital cities for this week, representing a 12.9% decrease from the 1,423 held last week. In Melbourne, 489 auctions are scheduled, approximately 70% fewer than in the corresponding week last year.