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Despite the uncertainty surrounding the upcoming 2025 federal election, both the volume of auctions and the preliminary clearance rate rebounded in the first week of May.
The latest Property Market Indicator Summary from Cotality showed that nationwide, 1,643 properties were auctioned off in the week ending 4 May 2025, an increase from the 1,076 auctions held during the previous week ending 27 April 2025.
Despite the solid week-on-week rise, Cotality noted that the recent federal election still kept a lid on the activity, with last week’s volume still far lower than the 2,202 properties that went to auction the same week last year.
The preliminary clearance rate responded positively to the week-on-week increase to volume, rising to 70.1 per cent last week, which was up 5.9 percentage points from the week prior, and marked the highest combined early clearance rate in four weeks.
Melbourne led both for auction volume and the preliminary clearance rate across the capital cities last week, with the city’s 803 homes that went under the hammer returning an early success rate of 74.4 per cent.
Melbourne’s preliminary clearance rate last week rose 6.8 per cent higher than the 67.6 per cent recorded in the week ending 27 April 2025, registering as the city’s highest preliminary clearance rate since the first week of June 2023.
Sydney’s 577 auctions last week recorded a preliminary clearance rate of 69.4 per cent, which was the city’s highest preliminary result in seven weeks, but also represented the seventh week in a row that the city’s early clearance rate has been below the 70 per cent mark.
Brisbane hosted 105 auctions – the highest across the smaller capital cities – and registered a preliminary clearance rate of 50 per cent, an improvement from 47.1 per cent the week prior, but was also the city’s second lowest early clearance rate in the year so far.
Adelaide hosted 91 auctions last week and returned a preliminary clearance rate of 60 per cent, which was down from the 61.1 per cent recorded in the week ending 27 April 2025, and marked the city’s lowest early success rate since November 2020.
Of the 54 homes taken to market across the ACT, 69.4 per cent have returned a positive result so far, which was the city’s highest preliminary clearance rate in eight weeks.
While 13 homes were taken to auction in Perth, seven have been revealed, of which five houses were successfully sold.
In Tasmania, no homes were taken to auction during the week ending 4 May 2025.
Cotality said that the volume of auctions is set to hold reasonably steady this week, with approximately 1,620 homes set to go under the hammer in the week ending 11 May 2025, before reducing to around 1,580 the following week due to auction activity dropping in the colder months.
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