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Auction market activity remained steady over the second week of spring-selling season, but tell-tale signs show that this year is going to be busier than last year.

Over the week ending 10 September, 2,285 homes went under the hammer across the combined capital cities, with clearance rates rising for the first time in three weeks to 71.7%.

CoreLogic economist Kaytlin Ezzy said the uptick was primarily driven by buyers, with the portion of properties passed in at auction falling to its lowest rate since mid-March 2022 at 19.1%.

“Meanwhile, the vendors were a little more bearish, with the withdrawal rate rising 1.9 percentage points to 9.5%,” she said.

“With just shy of 2,450 auctions currently scheduled across the combined capitals this week, this year's spring selling season is shaping up to be significantly busier than last spring.”

Ms Ezzy said clearance rates will continue to be an important indicator of whether the market can absorb the additional supply of homes coming into the pipeline.

Here are the capital city highlights over the week:

  • Sydney hosted 907 auctions, 29.9% higher than last year. Preliminary clearance rate for the New South Wales capital was at 73.4%.
  • Melbourne’s auction activity exceeded the 1,000-mark for the third consecutive week, with 1,013 homes going under the hammer. Success rates in Melbourne is at 71.5%.
  • Adelaide hosted its busiest auction week since April, with 130 homes auctioned that resulted in a clearance rate of 88.9%, the highest among all capital cities.
  • Brisbane reported 132 auctions over the week. Compared to other cities, it reported a lower clearance rate at 59%.
  • Auction activity fell slightly in Canberra, with only 90 homes going under the hammer. It reported a clearance rate of 53.2%.

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
$2,408
Principal & Interest
Variable
$0
$530
70%
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  • Immediate cashback upon settlement
  • $2000 for loans up to $700,000
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5.99% p.a.
5.90% p.a.
$2,396
Principal & Interest
Variable
$0
$0
80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
$2,434
Principal & Interest
Variable
$0
$250
60%
  • Find out your loan eligibility in 2 minutes or less
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  • Low fees and fast approval times
5.95% p.a.
5.95% p.a.
$2,385
Principal & Interest
Variable
$0
$0
90%
5.94% p.a.
5.95% p.a.
$2,383
Principal & Interest
Variable
$0
$0
90%
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of .

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Photo by photobyphotoboy on Canva.

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