Australia’s home auction market began November on a stronger footing, with higher clearance rates across most capitals despite a surge in new listings. The results point to solid buyer confidence heading into the final weeks of the spring selling season.
The national auction clearance rate climbed to 69.1 per cent, up from 67.2 per cent the previous week and well ahead of the 55.5 per cent recorded at the same time in 2024. Economists expect firm conditions to continue through November, as the Reserve Bank is widely tipped to hold interest rates steady, keeping lending sentiment stable.
Sydney’s market led the charge with a 74.1 per cent clearance rate across 1,483 auctions. That figure was slightly below last week’s 75.1 per cent but comfortably higher than last year’s 64.5 per cent. The city’s median auction price settled at $1.875 million, down from $1.95 million a week earlier yet 13.6 per cent higher year-on-year. The Lower North recorded the strongest performance at 85.1 per cent, followed by the North West and Canterbury-Bankstown. A five-bedroom home at 30 Banool Avenue, St Ives topped Sydney’s results at $7.5 million, while a one-bedroom unit in Greenwich sold for $408,000.
Melbourne’s market saw fewer listings due to the Cup long weekend but posted a lift in clearance to 73.8 per cent from 69.4 per cent. Only 597 homes went under the hammer compared with 1,762 the week before, yet competition remained tight. The median auction price slipped to $970,000 but was still 21.1 per cent higher than a year ago. The Northern region led with 85 per cent clearance, while the Inner East trailed at 56.1 per cent. A four-bedroom house in Northcote sold for $4.25 million, with the lowest-priced unit in Carnegie fetching $327,500.
Brisbane’s clearance rate rose to 56 per cent from 52.9 per cent, continuing a steady upward trend from 38.2 per cent a year earlier. Strong results were seen across Ascot and Camp Hill, with top sales reaching nearly $4 million.
Adelaide remained among the strongest performers, with a clearance rate of 74.6 per cent. Semaphore South recorded a $3.31 million top sale, and several suburbs posted results above $2 million.
Canberra’s market showed renewed energy, lifting to 67 per cent from 64 per cent the previous week and nearly 17 points higher than in 2024. The top sale in Yarralumla reached just over $2 million.
With two more major auction weekends before year-end, analysts expect robust conditions to persist in Sydney, Melbourne, and Adelaide, underpinned by steady rates and resilient buyer sentiment.
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