Auction activity experienced a significant decrease during the Easter long weekend following the busiest week of the year.  

A total of 660 homes were taken to auction across the combined capital cities, a substantial drop from the previous week’s 2,687 and 4,035 during the same period last year. 

Preliminary clearance rates also took a hit, with 67.8% of the 489 results collected so far being successful – down 2.9 percentage points compared to last week’s 70.7%.  

Despite the downturn, the success rate remains higher than the 64.0% recorded this time last year.  

Sydney experienced a similar decline, with 375 homes taken to auction this week, a significant drop from 1,017 the previous week and 1,490 last year.  

The preliminary clearance rate fell to 71.4%, down 1.9 percentage points from last week’s 73.3%.  

However, this year’s figure remained higher than the 61.7% recorded in 2022. During Easter 2022, Sydney held 480 auctions with a 58.9% success rate. 

Melbourne’s auction activity also saw a downturn, with only 110 homes taken to auction, compared to 1,202 the previous week and 1,795 last year.  

The city recorded a 57.6% preliminary clearance rate, a 13.6 percentage-point drop from last week’s 71.2%.  

This is the lowest clearance rate since July 2022 (57.0%) and is 5.1 percentage points below the rate recorded during the same period in 2022.  

Easter 2022 observed 196 auctions with a 64.3% clearance rate in Melbourne. 

Among smaller capitals, Brisbane held the most auctions (78), followed by Adelaide (48) and Canberra (45).  

Canberra recorded the highest preliminary clearance rate at 77.1%, trailed by Adelaide (75.0%) and Brisbane (58.3%).  

Perth held only four auctions, all unsuccessful, while Tasmania recorded no auction activity over Easter. 

Auction activity is expected to rebound next week, with nearly 1,800 homes scheduled for auction across the combined capitals.  

However, as winter approaches, auction volumes are predicted to decrease in line with historical seasonal patterns.