Australia’s preliminary auction clearance rates across the combined capitals edged above 70% last week, reaching 70.4%, according to CoreLogic. This modest increase follows a revised clearance rate of 64% from the previous week’s initial 69.2%.

The rise was primarily driven by smaller markets, with Adelaide leading at a notable 88.9%, followed by Brisbane at 73.1%, and Canberra at 52.2%—all showing improvements. Conversely, Sydney and Melbourne, the major auction markets, experienced slight declines. Melbourne, with 844 homes auctioned—the highest volume since late June—posted a preliminary clearance rate of 69.5%, down from 70.4% the previous week. Sydney saw 632 auctions, up from 612, but recorded an early clearance rate of 68.0%, marking the second consecutive week below 70%.

CoreLogic economist Kaytlin Ezzy observed, “The number of auctions scheduled this week is just over 2,000, with expectations rising to around 2,100 next week, signalling an increase in activity as the spring selling season approaches.”