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While auction volumes remain steady across the capitals, clearance rates are beginning to ease according to the latest Cotality data.
Cotality’s Property Market Indicator Summary has revealed 1,581 auctions were held across the combined capitals in the week ending 3 August, revealing the eight consecutive weeks where preliminary clearance rates topped 70 per cent.
While clearance rates remained high, data from the real estate analytics provider indicated a 7.5 per cent decline from last week and an 11.1 per cent decline from the same time in 2024.
Cotality analyst Caitlin Fono said the data shows a continuing trend: “The lower number of auctions follows a similar trend as new listings more broadly, which have held at below average levels through most of the year.”
The clearance rate overall clocked in at 72.3 per cent, down slightly from last week at 74.7 per cent – the highest clearance rate since mid-July last year.
Out of the capital cities, Melbourne saw the highest volume of auctions last week, with 739 homes going under the hammer with a 71.8 per cent clearance rate. Cotality indicated that the Melbourne market has held above 70 per cent since May.
In Sydney, 568 homes went to auction, a drop of 4.9 per cent on the previous week, though recording a 74.9 per cent clearance rate with the current data.
Meanwhile, Brisbane saw 128 homes go under the hammer. With a preliminary clearance rate of 71.1 per cent, it shows an increase from earlier in July where only 61.3 per cent of auctions recorded a successful result by Monday.
As for Adelaide, only 83 properties went under the hammer last week. The city recorded its lowest clearance rate since early June at 65.1 per cent
The ACT held 55 auctions last week. While the territory saw an increase in the number of auctions held, its clearance rate dropped to 65.8 per cent.
In Perth, only eight auctions were held last week. Three results have been collected as of yet, with two successful auctions.
No auctions have been held in Tasmania for the last two weeks, the Cotality data showed.
There are 1,570 homes expected to go under the hammer over the coming week, with a bump to 1,900 the following week.
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