03/06/2026
🧐 Last week was one of the quietest auction results we've seen since the early days of COVID. The national clearance rate dropped to 54.5%, meaning nearly half of all homes taken to auction didn't sell. That's the lowest we've recorded since April 2020.
It wasn't for lack of activity though. A total of 2,681 homes went to auction, up 15.2% on the week before, so buyers had plenty to choose from.
Sydney saw 997 auctions and a clearance rate of just 51.8%. To put that in perspective, the only worse result this year was the week the Federal Budget dropped. Melbourne fared slightly better at 58.1%, but that was still down from the week prior.
Brisbane was the toughest market of all, only 43.3% of homes sold under the hammer, the lowest result since April 2023.
The market is currently experiencing a transition and price correction, driven by high interest rates, stretched affordability, shaky consumer confidence, and the Budget changes that are making investors think twice about buying existing properties.
At the same time, more stock is coming onto the market, so buyers have more choice and less urgency.
Looking ahead, expect a quieter week with the King's Birthday public holiday affecting volumes in Sydney and Melbourne, before things pick back up the week after with around 2,190 auctions scheduled.
