Auction Clearance Rate Climbs

The winter auction market finished on a high last weekend, with volumes and clearance rates rising ahead of the start of the traditionally busy spring selling season.

There were 2251 properties offered for auction last week, a 9% increase on the previous week and the highest level since early June, according to Cotality.

In Melbourne, 1124 homes were taken to auction last week (up 14.1% from the previous week) with a clearance rate of 74.9%.

Sydney had 825, up 13.2% on the previous week, and its clearance rate (80.3%)  passed the 80% mark for the first time since April 2024.

Auctions were down in Brisbane, with just 124 homes going under the hammer last week, but its clearance rate is beginning to claw its way back up and reached 64.5%.

In Adelaide, there were 106 homes auctioned, a 7.1% increase on the previous week, resulting in a clearance rate of 75%.

Cotality Research analyst, Caitlin Fono, says there are 2150 auctions already listed for the coming weekend and 2400 the following week.

She says vendors are entering spring in a strong position, with low competition and rising prices across nearly all regions.

Cotality Australia’s research director, Tim Lawless, says there is a clear mismatch between available supply and demand, resulting in further price growth.

According to Cotality data, advertised listings are 20% below average.