Auction Clearance Rates Fall to Lowest Level in Six Years

The article is written by Rani Hayman.

The topic is about the real estate industry.

The article was published on Sunday, 21 June 2026, at 6:38 pm.

Auction clearance rates in major cities have decreased.

Here is a brief summary:

For the first time since April 2020, auction clearance rates in Australia have dropped below 50 percent.

The average rate is 47 percent, and it may be revised downward.

Here's what's next:

A research director predicts a further slowdown in housing value growth due to changes in tax rules.

Auction clearance rates have fallen to levels not seen since the COVID-19 pandemic started.

The average auction clearance rate across Australia was 47 percent.

This is the first time the rate has dropped below 50 percent since April 2020.

The numbers may be even lower once the data is finalized.

The cost of living, especially in Sydney, is a major issue in the NSW election.

Last week, 166 auctions were withdrawn in Sydney, the largest number in any major city.

Only 225 out of 645 auctions were successful.

There were many factors that contributed to the low clearance rates.

The research director said that interest rates, the Iran war, and inflation have affected the market.

The Reserve Bank kept interest rates unchanged at its June meeting.

The Reserve Bank decided to keep interest rates at 4.35 percent after three increases earlier this year.

The decision was made after data showed the economy had slowed down and unemployment had risen.

There are questions about the federal budget.

There is a lack of confidence among sellers to test the market.

The research director expects a further slowdown in housing value growth.

Sellers need to be realistic about the market and what buyers are willing to pay.

It's now a buyer's market, and buyers can negotiate harder.

Homeowners have protection, but there is a growing gap between established owners and first-time buyers.

Housing values in Sydney and Melbourne have been falling since last year.

Adelaide's home values have only increased by 0.3 percent in the last four weeks.

Brisbane's home values have risen by half a percent in four weeks.

Perth's home values have grown by 0.9 percent, which is still a strong rate but lower than last year.

A new tax on capital gains will be introduced from July 2027.

The article was published on Sunday, 21 June 2026, at 6:38 pm.

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