CoreLogic released its first auction results for 2025, with final clearance rates crashing to new lows in the week ending 26 January.
The national final auction clearance rate fell to 55.6%. This was the lowest result since the final week of 2022 when housing market conditions were adjusting to successive cash rate increases.
The decline in the combined capital cities’ clearance rate coincides with the recent decline in home values.
“Essentially, the first final clearance rate result for 2025 reiterates the broader slowdown across the property market”, CoreLogic wrote.
Melbourne’s final auction clearance rate fell to 55.7%, down from 58.5% at the end of last year and 66.0% a year ago.
Sydney had a lower final clearance rate than Melbourne at only 54.2%. This was up slightly from 52.6% at the end of last year and down markedly from 63.9% a year ago.
This weekend, 1,472 homes are scheduled for auction across the combined capital cities, up from 429 last week.
Source: CoreLogic
However, scheduled auction numbers are softer than at the same time last year, when 1,712 auctions were held.
“The number of auctions may be weighed down by weaker demand conditions at the start of 2025, whereas the start of 2024 was defined by stronger selling conditions”, noted CoreLogic.
