Why it’s the weakest auction market since 2020 – and what spring may bring

July 14, 2026 — 11:59am

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The monthly auction clearance rate has hit its weakest level since 2020 but there are signs the market is starting to stabilise.

But that doesn’t mean prices are set to stop falling soon, only that home sellers are starting to understand that they can’t hold out for yesterday’s prices if they want to sell.

There’s also the seasonal effect of a drop in supply of homes for sale over winter, at the same time as there has been a drop in demand from home buyers, which means the recent steadying is not guaranteed to continue in spring.

Sydney’s auction clearance rate fell to 48 per cent in the month of June, Domain figures show, the lowest since the lockdowns of April 2020, when auctions were cancelled en masse and it hit 36.2 per cent.

Melbourne’s monthly clearance rate fell to 52.3 per cent, the lowest since September 2020, when the city was shuttered and it hit 46.4 per cent.

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The monthly figures offer a more complete picture of the market than the preliminary data released on Saturday evenings as more sale and pass-in results are reported to researchers. Agents who don’t........

© The Age