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Australian auction clearance rates stay low

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2026-08-16 10:03 UTC → 2026-09-13 05:32 UTC · added ~~removed~~

Australian auction clearance rates remain low as the market shows mixed activity but persistent buyer weakness. In mid‑June, a Melbourne townhouse passed in at $950k while a Sydney art‑deco apartment sold above reserve. Early July saw high‑value transactions alongside a 51% clearance rate in Sydney and 16% in south‑east Queensland. By mid‑July, preliminary clearance rates were 57% in Melbourne and 53% in Sydney. By late July, national clearance rates hovered around 54%, with Brisbane near 30%. An acute downturn followed, with agents reporting some auctions seeing zero registrations—described by one Sydney auctioneer as the “worst day of his 30-year career.” This slump is attributed to interest rate hikes, inflation, and changes to tax rules. Consequently, withdrawal rates have remained high in the teens as sellers pull properties from the market. In early August, buyer participation fell significantly, with average bidders per auction dropping below two and open-home attendance halving. NAB projected a 5% price decline across capital cities, with potential peak-to-trough falls of 10% in Melbourne and Sydney. Industry observers characterized the market as having a “scaredy-cat” and “herd mentality.” By mid-August, Sydney’s preliminary clearance rate reached 54% following the Reserve Bank’s decision to hold interest rates. While some Melbourne properties, such as a Brunswick East house, exceeded their reserves, other sales reflected a buyer's market; for instance, an Abbotsford home sold for $3.5 million, below its previous $3.8 million estimate. By mid-September, Sydney’s preliminary clearance rate dipped slightly to 53%, remaining below the 60% threshold typically viewed as a balanced market. High withdrawal rates persisted, with 133 of 706 scheduled Sydney auctions withdrawn in a single week. In Melbourne, competitive bidding appeared in specific segments, such as a Carlton North terrace that sold for $1,819,000, exceeding its price guide.

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