By Caitlin Fono, Analyst, Cotality (Formerly CoreLogic)

There were 3,258 capital city homes taken to auction last week, the highest weekly volume since March 2024.  The previous week saw 3,068 homes auctioned, while this time last year, 2,898 auctions were held across the combined capitals.

The combined capital city preliminary clearance rate has held below the 75.0% mark for the eighth consecutive week, coming in at 70.0%, down from 71.8% the previous week (which revised to 65.9% at final numbers).

Melbourne hosted its third-busiest auction week of the year, with 1,484 homes taken under the hammer last week, up from 1,388 the previous week. The city's early success rate slipped to 70.5%, down 2.3 percentage points from 72.8% the week prior (revised to 65.9% on final numbers).

There were 1,253 auctions held in Sydney last week, marking the city's second busiest auction week of the year so far. The previous week saw 1,186 homes taken to auction, while this time last year, 1,098 auctions were held across the city. Sydney's preliminary clearance rate came in at 70.8% last week, its strongest early result in four weeks. The previous week's preliminary clearance rate came in at 70.0% before revising down to 64.5% at final numbers.  

215 homes were auctioned in Brisbane last week, up from 209 the week prior. The preliminary clearance rate came in at 71.8%, Brisbane's lowest in four weeks. The previous week's early clearance rate came in at 77.8%, revising down to 69.9% at final numbers.

Adelaide hosted 154 auctions last week, its busiest auction week of the year so far. The preliminary clearance rate slipped to its lowest result in 15 weeks to 67.7%.

140 auctions were held across the ACT, overtaking the previous week as the highest weekly auction volume since December 2023. The preliminary clearance rate came in at 59.3%, down from 63.8% the week prior (revised to 61.8% at final numbers).