Australia’s property market gained momentum last week as the spring selling season accelerated, with auction volumes climbing to their highest level since early June. A total of 2,455 homes were taken to auction across the combined capital cities — a strong increase from the previous week and almost identical to the same period last year .

Clearance Rates Dip but Remain Strong

Despite the lift in activity, clearance rates showed signs of softening. The preliminary combined capitals clearance rate edged down to 74.8%, slipping below the 75% mark for the first time in five weeks. While slightly weaker than late August highs, the figure still outperforms the winter average of 72.7%, highlighting resilient buyer demand even as more stock comes to market .

City Highlights

• Melbourne: Auction activity remained strong, holding above 1,000 for the third consecutive week. With 1,273 auctions, volumes were up 17.3% week-on-week and nearly 10% higher than last year. Bucking the broader trend, Melbourne’s clearance rate rose to 75.2%, up from 73.2% the previous week.
• Sydney: The city hosted 837 auctions, its busiest week since June, though volumes were down slightly compared to 2024. Clearance rates eased to 74.7%, the lowest in five weeks, after peaking at 80.3% in late August.
• Brisbane: With 148 auctions, Brisbane saw steady results, posting a 74.0% clearance rate — its second week above 70%.
• Adelaide: Activity reached a 13-week high with 108 auctions. Clearance improved to 75.4%, Adelaide’s strongest since mid-August.
• Canberra: The capital recorded its busiest week since May, with 79 auctions and a clearance rate of 73.3%.

Looking Ahead

Auction volumes are set to rise further, with around 2,630 homes scheduled this week across the combined capitals. This continued lift in supply will test buyer depth as the spring selling season unfolds .