Australia’s auction market is showing steady growth in early 2025, as volumes rise in capital cities and regional areas.
And while clearance rates varied, the market is showing signs of resilience, according to CoreLogic’s Property Market Indicator Summary for the week ending January 26.
Across the country, about 1300 auctions were scheduled for capital cities and regional areas.
Auction activity increased in the period with 440 homes auctioned in major cities, up from the 262 auctions of the previous week. This was slightly below the 476 auctions recorded for the same period last year.
The preliminary clearance rate across all capital cities stood at 64.5 per cent.
Melbourne remained the busiest auction market, recording 229 auctions, up from 132 of the previous period.
This was also higher than the same period last year, when 192 auctions took place.
The preliminary clearance rate in Melbourne was reported at 64.8 per cent, slightly below last year’s rate of 66 per cent.
In Sydney, 64 homes were taken to auction, up from 55. But the clearance rate remained subdued at 59.5 per cent, slightly lower than the same week last year when it stood at 63.9 per cent, with 83 auctions held during that period.
Among the smaller capitals, Adelaide led the charge with 69 auctions held, down from 95 in the same period last year.
The city recorded a preliminary clearance rate of 76.1 per cent.
Brisbane recorded 61 auctions with a clearance rate of 55.3 per cent, compared to 93 auctions last year.
Canberra and Perth each hosted eight auctions, with Canberra down from nine in the same period last year.
In Perth, early data showed that of the eight auctions held, only two results were reported. Last year, Perth held three auctions during this period.
In Canberra, only two properties found buyers under the hammer, while Tasmania managed just a single auction last week, which successfully sold.
The results follow news that while Australian home values ended 2024 in negative territory, it wasn’t near enough to drag the annual growth rate down.
Data from CoreLogic released this month revealed a flat end to last year with its Home Value Index down 0.1 per cent nationally over December after peaking in October and holding flat in November.
It reported an annual national home value rise of 4.9 per cent.
