The combined capitals’ preliminary auction clearance rate ratcheted higher last week, reaching 74.5% and overtaking the week prior (73.9%) as the highest early success rate since the first week of July in 2024 (74.7%).
This result was achieved with 2,103 auctions held, up 4.9% from the volume of auctions held the week prior (2,004) and 3.6% higher relative to the same week last year (2,030).
Melbourne was once again the busiest auction market, with 1,000 homes taken under the hammer. While down from the week prior (76.6%, revised to 65.6% once finalised), Melbourne’s preliminary clearance rate held above the 70% mark for the ninth week in a row, with 75.2% of outcomes collected so far returning a positive result.
784 auctions were held in Sydney last week, up slightly from the 778 held the week prior. Last week was the third consecutive week where Sydney's preliminary clearance rate has been above the 70% mark. So far, 73.5% of auctions have returned a successful result, in line with the previous week’s preliminary rate, also 73.5%, which revised down to 67.6% once finalised.
Brisbane was the busiest auction market across the smaller cities with 143 auctions held. Based on results collected so far, at 76.1%, last week was the city’s highest early rate since the first week of July last year (78.9%) and was up from the 66.7% preliminary success rate recorded the week prior.
97 homes went to auction in Adelaide, with 80.8% reporting a successful result, up from 77.5% the week prior.
Canberra was home to 66 auctions last week, with 63.8% reporting a successful result so far (highest since the first week of May 2025).
Looking forward, this week, Cotality is expecting the volume of auctions to dip a little, with approximately 1,770 homes currently scheduled to go under the hammer, before reducing further to around 1,430 the week after.
