Clearance rate hits a new low for 2026 at 42.3% 

Last week 1,880 homes went to auction across the combined capitals. That is 10.3% fewer than the 2,095 reported a week earlier, and 6.2% short of the 2,004 held in the equivalent week of 2025.

The weighted average clearance rate finalised at 42.3%, 6.0 percentage points below the 48.3% from the previous week. The last time clearance rates fell to this level was 26 April 2020 (41.1%) a time when the Australian auction market was substantially disrupted by strict social distancing policies and a sharp deterioration in market confidence, resulting in a breakdown in normal auction activity.

The downward trend in clearance rates has been apparent since mid-February, but a sub-50% reading indicates a wide gap has opened between buyer and seller pricing expectations. Since the commencement of Cotality’s auction results in 2008, clearance rates have been this low across only three periods previously: in 2011 and 2018 as the housing market was navigating a downturn, and during the early onset of the COVID-19 pandemic when the auction dynamic was severely disrupted.

Additionally, the 4-week rolling average indicates that the weighted average clearance rate is trending downward, suggesting the decline is not merely due to a slow week but reflects a broader trend that has been unfolding since earlier this year.

Sydney is where the volume decline was sharpest. 642 homes went under the hammer, 17.9% fewer than the 782 from a week earlier, and the final clearance rate eased 5.5 percentage points to 41.7%, from 47.2%. What stood out was the withdrawal rate. 178 of those 642 auctions (27.7%) were taken out, suggesting vendors are increasingly reluctant to test the market against current buyer demand.

Melbourne was a little more resilient. 923 auctions were held there, down 5.3% on the prior week’s 975, with the final clearance rate dropping 8.3 percentage points to 43.6%, from 51.9%. The weakness in Melbourne came through pass-ins rather than withdrawals. 393 of the 923 properties offered (42.6%) failed to find a buyer. This suggests a gap between vendor reserves and the amount that buyers bid. Pass-ins and withdrawals together accounted for 1,085 of the 1,880 auctions (57.7%) which is reducing the headline clearance rate.

In Brisbane, 144 homes went to auction, up slightly from 142 the previous week (1.4%). However, the final clearance rate reduced by 4.0 percentage points to 35.4%, down from 39.4%. This is now the fourth consecutive week Brisbane has cleared below 40%.

Clearance rates rose modestly across both Adelaide and Canberra, even as auction volumes reduced. Adelaide recorded a 2.2 percentage point increase, taking the clearance rate to 48.4%, despite hosting fewer auctions over the week. Canberra saw a slightly stronger rebound, with its clearance rate rising 4.5 percentage points to 41.3%, also against a lower auction volume. Perth hosted 15 auctions, with a clearance rate of 23.1%. Tasmania held no auctions.

This week’s auction schedule:

· Approximately 1,780 auctions are scheduled across the combined capitals this week.

· This is about 5% lower than last week, when 1,880 auctions were held.

· Volumes are also around 12% below the equivalent week last year, when 2,044 auctions were scheduled.

Sydney and Melbourne account for roughly 82% of scheduled auctions this week. Sydney has approximately 690 auctions scheduled, up 7.8% on the 642 held last week. Melbourne accounts for most of the national decline, with approximately 770 auctions scheduled, roughly 16% below the 923 held a week ago and 19.9% short of the 962 auctions held in the same week last year.

Across the smaller capitals, Brisbane currently has around 130 auctions scheduled, representing a 6.3% decline from the 144 held last week and roughly 4% below the 141 recorded at the same time in 2025. In contrast, Adelaide is showing the strongest momentum, with just over 120 auctions on the calendar, 30.1% higher than last week’s 93.

Canberra has seen a notable decline, with volumes dropping below 50 auctions, down from 63 last week (a 23.8% fall) and 67 this time last year (down 28.4%). Auction activity in Perth remains steady at 15 auctions, unchanged week-on-week but slightly higher than the equivalent week in 2025, when 12 were held. Tasmania is the only market with no scheduled auctions this week, compared with one auction at the same point last year. Results across both Perth and Tasmania should be read with caution given the smaller auction volume.

Auction volumes are expected to ease over the coming weeks, reflecting both seasonal patterns and broader cyclical trends. Looking ahead, Cotality estimates that roughly 1,400 homes are scheduled for auction next week and likely to trend seasonally lower through winter.