Auction clearance rates explained, and why they've slipped

An auction clearance rate is the share of homes taken to auction that sold, either under the hammer or just before or after. It’s reported every Sunday evening, and this spring it has been unusually low. Cotality’s preliminary rate across the combined capitals has hovered below 50% for most of October.

To read it properly, it helps to know how it’s put together.

How the clearance rate is worked out

The calculation is simple: homes sold divided by homes taken to auction with a result reported. “Sold” usually includes homes sold before auction day and those sold straight after passing in. Homes withdrawn from auction are typically counted as not sold.

So a 50% clearance rate means roughly half the reported auctions ended in a sale.

Why Sunday’s number changes

The figure published on Sunday night is preliminary. It’s based on the results agents have reported by then, and those tend to lean towards successful auctions. The rest come in over the following days, and the final figure is usually lower.

Cotality’s preliminary rate for the weekend of 4 October was 48.2%, but the final figure was 45.4%. The following weekend’s 48.8% finished at 44.1%. When comparing weeks, compare preliminary with preliminary and final with final.

What this spring is showing

Low clearance rates usually mean buyers have more choice and less urgency. That fits the wider picture: values falling for six months, homes taking longer to sell and more stock sitting on the market. Our October property market update has the detail.

The results also vary sharply by city. In Cotality’s preliminary figures for the week ending 25 October, Brisbane cleared just 25.2% of its auctions, a city where auctions have always been a smaller part of the market.

Volume matters too. A clearance rate based on a few dozen auctions can swing a long way from one week to the next, so a single weekend is a signal, not a trend.

What it means for agents

For agents, a lower clearance rate changes the conversation with vendors before the auction, not after it:

• Is auction the right method? In some markets and price ranges, a private sale with a price guide may suit buyers better right now.
• What’s the plan if it passes in? Vendors who’ve discussed it in advance make calmer decisions on the day.
• Is the reserve realistic? A reserve set from last year’s results is the most common reason a property passes in.

If you’re thinking about getting into real estate

Weekend auction results are a good habit to follow if you’re curious about the industry. Read them alongside the number of auctions held, and you’ll start to see how the market moves well before it reaches the headlines.

Sources: Cotality preliminary and final auction clearance rates, weeks ending 4, 11 and 25 October 2026.