Spring Auctions Defy Rate Pause

Spring auction markets remain resilient, with strong volumes meeting solid demand despite the RBA holding rates and cooling talk of further cuts.

The preliminary national clearance rate hit 71.8 per cent, its highest level in three weeks, and has held above 70 per cent since mid-June, confirming a broadly supportive selling environment.

Around 3136 capital city homes went under the hammer last week, with a further 3270 scheduled this week, putting auction activity on track for its busiest stretch since March 2024.

Melbourne led the improvement, with its preliminary clearance rate jumping to 72.8 per cent as buyers returned after Cup week distractions, while Sydney held a still-firm 70 per cent.

SQM Research’s Louis Christopher describes conditions as a seller’s market, but not a boom, warning vendors that over-ambitious pricing risks missing the mark.

Buyer depth is being supported by this year’s earlier rate cuts, renewed investor interest, and first home buyers encouraged by the expanded 5 per cent deposit scheme, reinforcing competition across quality listings.