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Auction markets have responded positively to the recent May cash rate cut, with the volume of auctions and preliminary clearance rate surging across the combined capital cities last week.
Cotality’s latest Property Market Indicator Summary showed that nationwide, 2,512 properties were auctioned off in the week ending 25 May 2025, an increase from the 1,784 auctions held during the previous week ending 18 May 2025.
The preliminary auction clearance rate kept pace with the rise in auctions, with last week’s early clearance rate rising to 71.3 per cent and marking the second highest early result of the year so far.
Melbourne led for auction volume across the capital cities last week, with the city’s 1,263 homes that went under the hammer marking the highest auction volume since the week prior to the Easter long weekend when 1,382 homes went to auction.
Melbourne’s preliminary clearance last week registered at 73.7 per cent, which was roughly in line with the 73.8 per cent recorded in the week of 18 May 2025, and marked the fourth week in a row that the city’s early rate has held above the 70 per cent mark.
Sydney’s 814 auctions last week represented the city’s highest volume since the week prior to Easter when 1,282 properties went to auction.
The city also recorded a rise in the auction success rate, with last week’s preliminary clearance rate of 72.2 per cent marking the first time in 10 weeks that the city’s early rate exceeded the 70 per cent mark.
Brisbane hosted 201 auctions – the highest across the smaller capital cities – but registered a preliminary clearance rate of 58.5 per cent, which was down slightly from the early rate of 59.6 per cent recorded in the week ending 18 May 2025.
Adelaide hosted 120 auctions last week and returned a preliminary clearance rate of 74.6 per cent, which was significantly up from the 64.1 per cent recorded in the week ending 18 May 2025.
Of the 96 homes taken to market across the ACT, 61.1 per cent have returned a positive result so far, marking a measurable increase from 56.6 per cent the week prior.
While 18 homes were taken to auction in Perth, 10 have been revealed, of which three houses were successfully sold.
In Tasmania, no homes were taken to auction during the week ending 25 May 2025.
Cotality said that the volume of auctions is set to rise further this week, with around 2,750 homes scheduled to go under the hammer during the week ending 1 June 2025.
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