Auction volumes jumped about a third last week, but the clearance rate still sat under 50%, and Sydney slipped below half for the first time in 12 weeks. Cotality's preliminary results for the week ending Sunday 25 October, published on Monday 26 October, counted 1,882 auctions across the combined capitals. More homes went under the hammer. Buyers were still selective on price.
The short version
- 1,882 auctions, +33.1% week on week, −41.8% year on year. Preliminary clearance 48.4%.
- Sydney 48.2%. Brisbane 25.2%. Adelaide 42.5%. Melbourne 54.8%.
- Cash rate 4.60%. CPI Wednesday 28 October. Reserve Bank Tuesday 3 November.
The national picture
Cotality counted 1,882 auctions, up 33.1% on the week and still 41.8% below the same week last year. It was the second week running that volumes were more than 40% under a year ago. The preliminary clearance rate was 48.4%, down from a preliminary 51.2% the week before. Mortgage Professional Australia notes that earlier figure was later revised to a final 47.6%. Clearance has sat under 50% in three of the past four weeks.
City by city
| City | Auctions | Week on week | Year on year | Preliminary clearance |
|---|---|---|---|---|
| Sydney | 631 | +10.7% | −34.1% | 48.2% |
| Melbourne | 831 | +68% (from 495) | −54.7% | 54.8% |
| Brisbane | 200 | +25.0% | +6.4% | 25.2% |
| Adelaide | 141 | +16.5% | −2.1% | 42.5% |
| ACT | 60 | +11.1% | One-third lower | 52.1% |
| Perth | 19 | — | — | Half of reported results |
Cotality preliminary results, week ending Sunday 25 October 2026. Perth is described as half of reported results, not a rate to one decimal place. Tasmania held no auctions.
Sydney's 48.2% is its first preliminary under 50% in 12 weeks, just above a June low of 47.3%. Brisbane's 25.2% is the lowest of any capital, and the city's fourth-lowest preliminary this year, even with volumes up on last year. Adelaide's 42.5% sits slightly under a spring-to-date average of 44.3%. Melbourne's list rose 68%, from 495 to 831, and was still 54.7% below a year ago. Cotality ties part of that drop to softer selling conditions and Victoria's new reserve-price transparency rules. The city cleared 54.8%, down 1.4 percentage points, against a spring-to-date average of 55.4%. The ACT's 52.1% was down 13.8 percentage points on the week. Half of Perth's 19 reported results sold.
Why deals are not closing
Ray White's on-the-day clearance — its own network, not Cotality's national series — was 40.7% from 728 scheduled auctions, against 40.4% a week earlier. Thomas McGlynn said the gap between what buyers are prepared to pay and what sellers are willing to accept is "making it harder for transactions to come together." Callum Hogan said September's rate rise is showing up as "hesitation around commitment rather than a lack of interest." The cash rate is 4.60%. The big four passed that rise on from 9 October.
Domain's weekend and Cotality's week are different series
Sunday's Domain auction wrap was soft on Domain's own count, for the week ending Saturday 24 October. Cotality's week ends Sunday 25 October. Different data houses, different samples, slightly different windows. Adelaide's 42.5% here is Cotality's preliminary. It does not correct or replace the Adelaide figure in Sunday's Domain article. Keep the two series labelled.
What it means if you're buying, selling or bridging
Buyers. More homes are reaching auction, and clearance under 50% means plenty pass in or are withdrawn. That usually leaves more room to negotiate, especially in Brisbane and Adelaide, once finance is organised. Check comparable sales and capacity at the 4.60% cash rate plus the 3% APRA buffer. A passed-in result is not a bargain by itself.
Sellers. A bigger list is not demand coming back. Price to this market, not last year's clearance rates.
Selling in order to buy. Soft clearance, and the longer selling times in our mid-October note, can stretch a sale. Build contingency into settlement dates. Some bridging settings loosened this month, still case by case.
Investors. Monday's Loan Market Group figures put investor lodgements down 45% by value since the end of January. Negotiate, and stress-test cash flow for a possible further rise on 3 November. This does not predict that decision, a price, or an approval.
Related reading
- Adelaide and Brisbane's soft Domain auction weekend (Sunday 25 October — Domain's series, not Cotality's)
- Every capital city's house prices fell in the September quarter (22 October — Domain prices)
- Investor home-loan applications are down 45%, and refinancing hit a record 57% (Monday 26 October)
- The RBA just said inflation looks "materially worse" (Saturday 24 October — Wednesday's CPI and Cup Day)
Buying or selling while auctions are soft and rates are high?
Get your options and timing checked against today's serviceability rules. Book a no-obligation chat. We'll start with general information, and if you want personal recommendations we'll do a proper fact-find first. There's no cost and no pressure.
Sources: 1. Cotality, "Capital city auction volumes rise but preliminary clearance rate falls to 48.4%", 26 October 2026, week ending 25 October 2026 — 1,882 auctions, +33.1% week on week, −41.8% year on year, preliminary clearance 48.4% (prior preliminary 51.2%), city volumes and clearances, Melbourne reserve-price context (https://www.cotality.com/au/press-releases/capital-city-auction-volumes-rise-but-preliminary-clearance-rate-falls-to-48-4). 2. Mortgage Professional Australia, "Auction clearance rates slip below 50% as buyers hold back", Mina Martin, 26 October 2026 — prior week revised to a final 47.6%; Ray White on-the-day clearance 40.7% from 728 scheduled auctions (40.4% a week earlier); Thomas McGlynn and Callum Hogan (https://www.mpamag.com/au/news/general/auction-clearance-rates-slip-below-50-as-buyers-hold-back/594851). 3. Reserve Bank of Australia, Media Release 2026-27, cash rate 4.60% (https://www.rba.gov.au/media-releases/2026/mr-26-27.html). Next Monetary Policy Decision: Tuesday 3 November 2026. September-quarter CPI: Wednesday 28 October 2026. 4. Domain auction results are a separate series for the week ending 24 October 2026 (https://www.domain.com.au/auction-results/), covered on this site on 25 October. Those city rates are not revisions of the Cotality rates above.
General information only, not credit advice.
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