Most homes fail to sell at auction for another week

Second week below 50 per cent

The preliminary national auction clearance rate came in at 48.8 per cent from 1,781 auctions on the weekend of 10-11 October 2026, according to Cotality data, marking the second consecutive week the share of homes finding a buyer at auction has fallen short of the halfway mark.^[1] The final combined-capitals rate for the week ending 4 October 2026 was 45.4 per cent.^[2]

City results diverged sharply. Sydney recorded a preliminary clearance rate of 52.9 per cent and Melbourne 54.8 per cent, while Brisbane cleared just 21.4 per cent and Perth 28.6 per cent.^[1] Canberra came in at 36.4 per cent.^[1]

Quiet spring on the listing front

Auction volumes across the first six weeks of spring were running 31 per cent below last year's pace, the softest early-season schedule since 2020, Cotality said.^[3] Spring is traditionally the busiest auction season in Australia, though subdued buyer confidence has trimmed both listing volumes and vendor enthusiasm this year.

Tim Lawless, Research Director at Cotality, said inventory levels had risen sharply because the rate of sale had fallen even faster.^[5] That dynamic places sellers in an increasingly difficult position, with pass-in outcomes rising as buyers hold back.

What the numbers mean for buyers and sellers

Sydney prices have fallen almost 9 per cent from their February peak, Bloomberg reported.^[4] That decline, combined with a clearance rate holding below 50 per cent, shifts negotiating power toward buyers in the nation's largest property market.

With rates at current levels, buyers may find room to negotiate below guide price or place pre-auction offers ahead of the scheduled sale date.