Spring 2026 auctions: buying when most auctions fail
Across the capitals, 45.1% of auctions sold in the week to 3 October 2026, on preliminary numbers. Sydney cleared 60.0% and Melbourne 59.5%, each well down on a year ago. Brisbane cleared 23.7%. For buyers, a market where most auctions fail is a market where you negotiate after the hammer, not under it.
Spring is meant to be the busy season. This year the auctions are running, but the bidders are thin.
A clearance rate is simply the share of auctions that end in a sale. The lower it goes, the more the room tilts toward the buyer. Three of the five auction capitals were under 50% last week.
Key facts, week to 3 October 2026
- National preliminary clearance rate: 45.1%, down from 49.2% the week before
- Auctions held across the capitals: 1,515
- Sydney: 60.0% (77.4% in the same week of 2025)
- Brisbane: 23.7% (49.5% a year ago)
- Capital city homes take a median of 39 days to sell, up from 23
- Victoria: reserve prices disclosed seven days before auction, from 1 October 2026
Sources: My Housing Market, via Property Update, Cotality, Consumer Affairs Victoria
This spring against last spring
| 2026 | Same week, 2025 | |
|---|---|---|
| Sydney | 60% | 77.4% |
| Melbourne | 59.5% | 72.4% |
| Brisbane | 23.7% | 49.5% |
| Adelaide | 36.5% | 82.7% |
| Canberra | 45.8% | 70.8% |
Source: My Housing Market, preliminary results, via Property Update
| City | Clearance rate | Same week, 2025 | Auctions held | Auctions a year ago |
|---|---|---|---|---|
| Sydney | 60.0% | 77.4% | 521 | 749 |
| Melbourne | 59.5% | 72.4% | 714 | 1,074 |
| Brisbane | 23.7% | 49.5% | 145 | 136 |
| Adelaide | 36.5% | 82.7% | 95 | 105 |
| Canberra | 45.8% | 70.8% | 40 | 59 |
| All capitals | 45.1% | 1,515 |
Adelaide is the one that stops us. A year ago more than four in five auctions sold. Last week it was closer to one in three.
Notice the volumes too. Sydney and Melbourne held about a third fewer auctions than this week last year. Sellers who can wait are waiting. Those who go ahead are more often the ones who need to sell.
These are preliminary rates. They are revised as late results come in.
Why a pass in is good for you
When a property is passed in, the highest bidder is normally invited to negotiate first. That changes the whole exchange.
At a hot auction you are bidding against other people, in public, in a few minutes. After a pass in you are dealing with one seller, in private, who has just watched their campaign fail in front of the neighbours. Your conditions come back onto the table: finance, a building inspection, a longer settlement.
Three things we would do:
- Bid, even low. The highest bidder is usually given the first chance to negotiate. If you do not bid, you may not get it.
- Know your walk away price before you arrive. Work it back from what a bank will lend you today, not from the price guide.
- Ask for terms as well as price. A seller who will not move on price will often move on settlement date or deposit.
If nothing is agreed, the home goes up for private sale. It often sits. With homes taking a median of 39 days to sell, time is on the buyer's side.
Victoria's new rule
From 1 October 2026, Victoria changed its property sales rules. Consumer Affairs Victoria says buyers will have access to the seller's reserve price 7 days before an auction or a fixed date sale, "so they can better understand whether a property is within their budget".
That takes out a lot of wasted Saturdays. You will know a week ahead whether the seller's number is one you can meet. Further changes are due in 2027.
It also means a Victorian seller has to commit to a number early, in a falling market. We expect more of them to be talked down before auction day.
Do not forget the duty
A good price at auction still comes with stamp duty, paid in cash. On a $750,000 established home bought as an investment, our calculator gives $27,937 in New South Wales, $40,070 in Victoria and $26,775 in Queensland. Budget for it before you raise your hand.
For where prices sit in each city, see six months of falling prices.
Open the Stamp Duty Calculator
Frequently asked questions
What is the auction clearance rate in Australia right now?
In the week to 3 October 2026 the national preliminary clearance rate was 45.1% across 1,515 auctions, according to My Housing Market. Sydney cleared 60.0% and Melbourne 59.5%.
Why are auction clearance rates so low in 2026?
Four rate rises have cut what buyers can borrow, investors have pulled back after the tax changes, and sellers are still pricing off the March peak. The gap between the two is what fails at auction.
What happens when a property is passed in at auction?
The highest bidder usually gets the first right to negotiate with the seller. If no deal is reached, the property goes on the market at a set price and anyone can make an offer.
What is the new reserve price rule in Victoria?
From 1 October 2026, buyers in Victoria get access to the seller's reserve price seven days before an auction or a fixed date sale.
Sources
- Property Update, National Weekly Auction Report, week to 3 October 2026, data from My Housing Market
- Consumer Affairs Victoria, Greater property price transparency for Victorian homebuyers, 2 October 2026
- Cotality Home Value Index, 1 October 2026
Stamp duty figures are from the Presm Stamp Duty Calculator for an investor buying an established home. Auction rules differ by state. This is general information, not legal advice.