Volumes surge across capital cities, with clearance rates hitting multi-month highs in Melbourne and Sydney
Auction activity across Australia’s combined capital cities increased last week, with 2,820 homes taken to auction — the highest weekly total since early December 2024. The uptick in auction numbers was accompanied by rising clearance rates, signalling growing confidence in the housing market.
According to CoreLogic Australia, the preliminary clearance rate reached 72.1% last week, marking an improvement from 71.2% the previous week. Once finalised, the prior week’s rate had been revised down to 63.8%. This also marked the second consecutive week the preliminary clearance rate held above 70%, the strongest result since late July 2024, when the rate hit 72.2%.
“The consistent lift in clearance rates alongside higher auction volumes suggests buyer demand is keeping pace with supply,” said Caitlin Fono (pictured above), research analyst at CoreLogic Australia.
Melbourne remained the busiest auction market, hosting 1,467 auctions — the city’s highest since late October 2024. The preliminary clearance rate in Melbourne rose to 72.1%, up from 70.7% the previous week, though final figures from the prior week were revised down to 63.7%. This marks Melbourne’s strongest preliminary clearance result since mid-July 2023.
“The Melbourne market is showing renewed resilience, with clearance rates returning to levels not seen since last year’s winter period,” Fono said.
In Sydney, 959 homes were auctioned, the highest weekly tally since early December. However, the city’s preliminary clearance rate slipped to 74.4%, easing from 76.6% the week before. Final clearance data from that earlier week was adjusted down to 67.2%. Despite the decline, Sydney’s clearance rate has remained above 70% for three consecutive weeks, indicating steady demand.
Among the smaller capital cities, Adelaide led with 151 auctions and a preliminary clearance rate of 71.6% — its highest since late January. Canberra followed, with 88 auctions and a clearance rate of 70.7%, the city’s strongest performance since mid-October 2023.
Brisbane hosted 138 auctions but reported the lowest preliminary clearance rate among the capitals at 53.1%, reflecting softer demand in the Queensland market.
Looking ahead, auction volumes are expected to decline slightly, with around 2,540 auctions scheduled across the combined capitals this week.
“While volumes are set to ease, the recent performance suggests market momentum is likely to continue, particularly in Sydney and Melbourne where buyer demand remains robust,” Fono said.
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