Auction numbers look weaker ‘out of the gate’ in 2025

However, scheduled auction numbers are not as strong out of the gate as this time last year, when 1,712 auctions were held. The number of auctions may be weighed down by weaker demand conditions at the start of 2025, whereas the start of 2024 was defined by stronger selling conditions.

Melbourne currently has the highest number of auctions scheduled at 508 for the week. This is more than double the 223 auctions held last week, but year-on-year is down substantially from 625 auctions.

In fact, Melbourne has contributed to most of the year-on-year decline in auction numbers across the combined capital cities.

There are 487 homes scheduled for auction across Sydney this week, up from 59 last week, but down from 583 in the equivalent week of 2024.

Across the smaller capitals, the highest number of auctions is scheduled in Adelaide (167), followed closely by Brisbane (166). In Adelaide, there are five more auctions this week than in the equivalent week of 2024, while Brisbane auction numbers slipped by 36 properties. This week there are 133 auctions scheduled across Canberra, up from 129 a year ago. In Perth, there are 11 auctions scheduled this week, and no auctions scheduled in Tasmania.

Final figures for the week ending 26th of January returned a clearance rate of 55.6% from 426 auction results across the combined capital cities. This revised down from preliminary reporting of 64.5%. The clearance rate fell slightly from 55.7% during the final week of auction reporting in 2024 (the week ending 15th of December) and is down notably from the 67.2% result a year ago. In fact, the final clearance rate is the lowest since the final week of 2022, when housing market conditions were adjusting to successive cash rate increases.

The gradual dip in the combined capital cities’ clearance rate coincides with a slowing in home value growth over the course of 2024, and a decline of -0.1% in the daily CoreLogic Home Value Index for the combined capitals, for the 28 days ending January 26. Essentially, the first final clearance rate result for 2025 reiterates the broader slowdown across the property market.

In Melbourne, the final clearance rate was 55.7%, down from 58.5% at the end of last year, and 66.0% a year ago. Sydney had a lower final clearance rate than Melbourne this week, albeit off just 59 auctions. The final clearance rate for Sydney was 54.2%, up slightly from 52.6% at the end of last year, and down markedly from 63.9% a year ago.

Adelaide was the busiest of the smaller markets last week, with 69 auctions held and a final clearance rate of 68.1%. The clearance rate was the highest of the capital city results. Brisbane reported a final clearance rate of 48.3% off 60 auction results, down from a final result of 67.4% a year ago. Both Canberra and Perth had eight auctions scheduled last week, with three selling in Perth and two selling in Canberra.  There was also one successful auction held in Tasmania over the week.