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Despite auction volumes reaching their highest point in almost a month across the combined capital cities, the preliminary clearance rate remained flat in the week ending 11 May 2025.
Cotality’s latest Property Market Indicator Summary showed that nationwide, 1,784 properties were auctioned off in the week ending 11 May 2025.
The week marks the highest volume of auctions since the week prior to Easter this year, when 3,066 homes went under the hammer.
Despite the drastically increased activity, the preliminary clearance rate came in at 70.2 per cent across the combined capitals, roughly in line with the result of the week ending 4 May 2025, when an early auction success rate of 70.1 per cent was recorded.
Nevertheless, Cotality emphasised that last week’s preliminary auction clearance rate marks the second week in a row that the early success rate for auctions has held above the 70 per cent mark.
Melbourne came in as the busiest auction market for the week ending 11 May 2025, with the 830 homes that went under the hammer representing an increase from the 776 auctions held during the week ending 4 May 2025.
While Melbourne’s early clearance rate slipped a little, down to 73.2 per cent from the previous week’s 74.4 per cent, Cotality noted that last week’s result is still the city’s second-highest preliminary clearance rate so far this year.
Sydney hosted 665 auctions last week, which was a sizeable increase from the 562 homes that went under the hammer during the prior week.
Contrastingly, Sydney’s preliminary clearance rate has held below the 70 per cent market for the eighth consecutive week, while the city’s preliminary clearance rate of 67.7 per cent dipped from 69.4 per cent the week prior.
Adelaide’s 116 homes that went to auction marked the highest activity across the less populous cities last week, and notched up a preliminary clearance rate of 66.7 per cent, the city’s highest result in three weeks.
Brisbane hosted 109 auctions last week, which was up from 104 the previous week, and returned a preliminary clearance rate of 69.7 per cent, which is the city’s highest result since August of last year.
The ACT recorded a drop in both auction volume and preliminary clearance rate last week, with the city’s 50 homes that went under the hammer returning a preliminary clearance rate of 62.9 per cent.
Out of the seven auctions held in Perth last week, the six auctions for which results were reported were successfully sold, while the outcome of one auction is still unknown.
In Tasmania, three homes were taken to auction, with the outcome of one auction not yet being revealed, and two houses passing in at auction.
Cotality said that the volume of auctions is set to moderately dip this week, with around 1,600 homes set to go under the hammer in the week ending 18 May 2025, before rising the week after to around 2,200.
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