Clearance rates at capital city auctions recovered in the week ending 8 November 2026, led by a strong result in Melbourne. But thin volumes and increasingly price-conscious buyers point to a market that remains soft heading into summer.
The combined capitals’ preliminary clearance rate rose 4.3 percentage points to 51.5%, according to weekly auction figures from Cotality Australia shared by Cotality’s Tim Lawless.
That puts the result between this spring’s 51.1% average and winter’s 52.3%.
Ray White’s network recorded a larger weekly gain, albeit from a lower base, with its national preliminary clearance rate rising to 42.6% from 35.5%.
Cotality tracked 1,734 capital city auctions over the week, only 1.2% more than the week before and 43.5% fewer than a year ago. Volumes have been more than 40% down on last year in three of the past four weeks, extending a weak spring that saw auction clearance rates hit a six-year low as rate rises bite.
Melbourne has seen the steepest fall. Since reserve price transparency rules took effect in mid-October, the city’s auction numbers have run about 55% below last year’s, excluding the long-weekend result.
“We’re seeing a real two-speed market at the moment,” said Callum Hogan, Ray White New South Wales head of performance.
The figures bear that out. Melbourne’s 612 auctions cleared at 59.1%, the city’s best preliminary result in eight weeks, and Ray White recorded 67.4% across its 148 scheduled Melbourne auctions. Brisbane improved to 31.2% after two weeks in the mid-20s, though it remained the weakest of the larger capitals, with Ray White’s rate at 27.7%.
Sydney and Adelaide moved the other way. Sydney, the busiest market with 709 auctions, eased to 52.3%, while Ray White’s Sydney rate held at 48.5%. Adelaide had its busiest auction week in more than seven months, with 149 auctions, but its clearance rate slipped 2.9 points to 43.5%.
For brokers, the key signal is Hogan’s observation that interest rates and cost-of-living pressures have become a significant part of buyer conversations.
“We’re hearing from some buyers that what they were prepared to pay three months ago has shifted by as much as 10% to 15%,” he said.
Thomas McGlynn, Ray White CEO of performance and value, said demand remains thin.
“Average open home attendance nationally is less than half what it was 12 months ago, and active bidder numbers remain well below last year’s levels,” he said.
McGlynn added that 65% of auction campaigns still sell within 45 days, compared with 46% of private treaty campaigns.
Buyer appetite will be tested next week, when Cotality expects capital city auction volumes to rise to around 2,010.
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