Australia Weekly Property Market Report – Week Ending 6 September 2026

Melbourne Opens Spring Above 60%, but Lower Volumes and Falling Prices Keep Buyers in Control

Executive Summary

The Australia Weekly Property Market Report for the week ending 6 September 2026 shows Melbourne has opened the 2026 spring selling season with a cautiously encouraging auction result. However, the broader evidence continues to point to a market that rewards realistic vendors rather than one returning to widespread price growth.

Melbourne recorded a 63.4% weekly auction clearance rate from 654 scheduled auctions in My Housing Market’s Saturday-based dataset, up from 62.5% the previous week. Sydney also edged higher to 62.6% from 709 scheduled auctions. By contrast, Brisbane fell to just 19.4%, Adelaide recovered to 46.2% and Canberra slipped to 38.8%.

Across those five major auction markets, the average clearance rate was 46.1%, compared with 47.3% a week earlier and 74.4% at the same time last year.

The more conservative Cotality preliminary reading reinforces the need for caution. Cotality reported a 52.7% combined-capital preliminary clearance rate from 1,462 auctions in the first week of spring, only 0.4 percentage points above the winter average. Melbourne’s Cotality preliminary rate was approximately 58.2%, while Sydney reached 57.7%, an 18-week high. National auction volume was more than 30% lower than a year earlier.

The Real Estate Institute of Victoria reported an even stronger Victorian clearance rate of 73% from 356 reported auctions, including 259 sales and 97 pass-ins. Of those sales, 184 occurred under the hammer and 75 before auction. REIV reported $297 million in auction sales, alongside 21 withdrawals, 11 postponements and 302 results that had not yet been reported.

REIV latest auction results

Meanwhile, REA Group data reported Melbourne at 58.8% from 369 reported results, with 117 homes sold under the hammer, 97 before auction and three afterward. Another 125 campaigns were withdrawn.

These apparently conflicting figures do not mean one provider is necessarily wrong. Instead, they demonstrate how strongly preliminary clearance rates can depend on collection timing, outstanding results and methodology.

More importantly, the latest PropTrack Home Price Index confirms that increased auction activity is occurring while property prices continue to soften. National home prices fell 0.2% in August, their fifth consecutive monthly decline. Melbourne prices declined another 0.2% and are now 5.3% below their peak and 4.3% lower than a year ago.

PropTrack Home Price Index — August 2026

The result is an unusual but increasingly familiar market: more properties are successfully selling at auction, but they are generally doing so at lower prices.

That is arguably the most important message for Melbourne vendors entering spring and for anyone following the Australian Housing Market.

Australia Weekly Property Market Report: Snapshot

Melbourne: 654 scheduled auctions; 63.4% Saturday-based clearance rate; $930,000 combined auction median; $952,500 house median; $730,000 unit median.

Cotality Melbourne: approximately 58.2% preliminary clearance rate.

REIV Victoria: 356 reported auctions; 73% clearance; 259 sales; 97 pass-ins; $297 million reported auction turnover.

Sydney: 709 scheduled auctions; 62.6% clearance; $1.5355 million combined median.

Brisbane: 128 auctions; 19.4% clearance.

Adelaide: 115 auctions; 46.2% clearance.

Canberra: 49 auctions; 38.8% clearance.

PropTrack: national prices -0.2% in August; Melbourne -0.2% for the month and -4.3% annually.

RBA cash rate: 4.35%; next monetary policy update 29 September.

Melbourne Begins Spring with Improved Auction Conversion

The Melbourne Property Market remains Australia’s largest auction market and delivered another incremental improvement this week.

The city recorded 654 scheduled auctions and a 63.4% clearance rate, compared with 638 auctions and 62.5% the previous week.

But context remains essential.

During the corresponding week last year, Melbourne recorded 1,076 auctions and a 74.4% clearance rate. Auction activity is therefore approximately 39% below last year’s level.

Cotality’s figures tell a similar story. It had expected approximately 634 Melbourne auctions for the week ending 6 September, roughly 41.6% below the 1,085 auctions held during the comparable week of 2025.

The reduced auction book is helping individual campaigns. Fewer Australian Property Listings mean qualified purchasers have fewer competing homes to choose from, increasing the likelihood that two or three genuine buyers will meet at auction.

However, that should not be interpreted as a return to boom conditions.

PropTrack’s August price data makes that clear.

Melbourne Prices Are Still Falling

PropTrack recorded Melbourne home prices falling another 0.2% during August.

Melbourne House Prices are now 5.3% below their peak and 4.3% lower than a year ago.

The distinction between clearance rates and prices is particularly important this spring.

A clearance rate answers the question: did the property sell?

It does not answer the equally important question: did the property sell for more than it would have six or twelve months ago?

At present, the evidence suggests many vendors are adjusting expectations sufficiently to secure a sale.

That is positive for transaction activity, but it is not the same as price growth.

Melbourne’s auction medians provide further evidence.

The reported house auction median this week was $952,500, down from $1.066 million the previous week and 13.9% below the $1.106 million recorded during the corresponding week last year.

Weekly medians can be volatile because the property mix changes significantly. Nevertheless, a year-on-year difference of this magnitude reinforces the broader PropTrack trend.

For anyone monitoring the Australian Property Market, the current Melbourne figures show why clearance rates and actual price movements need to be considered together.

Melbourne Suburb and Regional Performance

Performance varied considerably across the Melbourne Property Market.

The Outer East produced the strongest clearance rate at 72.7%, followed by the South East at 69%, North East at 66.7% and Inner South at 68.2%.

The premium Inner East recorded the weakest result at 52.2%. Melbourne’s West achieved 52.5%, while the northern region recorded 58%.

The results demonstrate how affordability continues to influence demand.

The North East recorded a median auction price of $837,500, while the northern region was just $715,000.

By comparison, the Inner East median was approximately $1.56 million.

Higher interest rates disproportionately affect expensive markets because purchasers require larger loans. Buyers at higher price points may also have greater flexibility to wait.

Affordable middle- and outer-ring areas generally have a larger pool of purchasers who remain within bank serviceability limits.

This affordability difference remains important for Melbourne Property Investment, particularly when comparing higher-priced suburbs with more accessible areas.

Units Again Edge Ahead of Houses

Melbourne houses recorded a 62.1% clearance rate, while units achieved 63.5%.

The median auction price was $952,500 for houses and $730,000 for units.

This continues one of the most significant trends of 2026.

PropTrack’s August index found national unit prices remain 3% higher than a year ago, compared with 1.5% growth for houses.

Units are also only around 1.8% below their national peak compared with approximately 2.9% for houses.

In Melbourne specifically, house values are approximately 6.3% below peak, compared with only 2.2% for units.

Affordability is the obvious explanation.

When borrowing capacity contracts, buyers frequently adjust property type rather than leave the market completely.

That can mean shifting from a detached house to a townhouse, villa or apartment.

For investors and first-home buyers, the Melbourne Unit Market is therefore increasingly relevant, particularly where properties are well located and require less maintenance.

The latest Melbourne Unit Market figures also highlight how different property types can perform within the same city.

Passed-In Properties and Withdrawals

REIV recorded 97 Victorian auction pass-ins among its 356 reported auctions.

It also recorded 21 withdrawals, 11 postponements and another 302 auctions for which results had not yet been reported.

REA Group’s early Melbourne reporting recorded 125 withdrawals, alongside 117 properties sold under the hammer, 97 before auction and three afterward.

These numbers highlight the importance of looking beyond clearance rates.

A withdrawal can occur for several reasons. A vendor may accept an offer beforehand, campaign circumstances may change, or the agent may determine there is insufficient bidder depth to proceed.

But elevated withdrawal numbers can also signal seller caution.

For buyers, both withdrawn and passed-in campaigns deserve attention.

Once public auction competition disappears, negotiations can become considerably more rational.

For vendors, the post-auction negotiation strategy should therefore be established before auction day rather than improvised afterward.

The latest Melbourne Auction Results provide a useful reminder that the headline clearance rate does not tell the whole story.

Australia Weekly Property Market Report: Notable Melbourne Sales

Melbourne continued to demonstrate that good property can outperform broader market conditions.

The highest reported auction transaction in the My Housing Market dataset was 9 Brooke Street, Eaglemont, selling for $2.595 million.

Other leading sales included:

2 Lemon Grove, Mount Waverley — $2,288,888

8A Crawford Street, Cheltenham — $2.25 million

11 Smiths Road, Templestowe — $2.17 million

51 Raglan Street, Port Melbourne — $2.11 million

7 Lille Street, Surrey Hills — $1.96 million

74 Abinger Street, Richmond — $1.925 million

19 Bon Vue Road, Balwyn North — $1.85 million.

One of the most instructive results came from Bundoora.

A three-bedroom home sold for $755,000 — $95,000 above the top of its quoted range — following competition involving seven bidders. Reporting indicated that most of those bidders were investors.

That result should not be interpreted as evidence that every Bundoora property will outperform.

Rather, it demonstrates what can happen when pricing, property type and buyer demand align.

Auctioneer Luke Banitsiotis described buyers as highly price sensitive, reinforcing the importance of campaign positioning.

The Melbourne Auction Results this week therefore show a market where individual properties can still attract strong competition when they are correctly positioned.

Sydney

The Sydney Housing Market also recorded an improved auction result.

The city achieved a 62.6% clearance rate from 709 scheduled auctions, marginally above 62.2% the previous week.

However, it remained dramatically below the 79.7% clearance rate from 966 auctions recorded during the equivalent week last year.

Cotality’s preliminary measure was more conservative at 57.7%, although that represented Sydney’s strongest preliminary result in 18 weeks.

Sydney houses recorded a 59.7% clearance rate, while units considerably outperformed at 69.6%.

The house auction median was $1.983 million, compared with $1.0325 million for units.

The North West recorded the highest clearance rate at 78.6%, followed by City and East at 71.3%.

The top reported sale was a three-bedroom apartment at 3/8 Carthona Avenue, Darling Point, which sold for $8.95 million.

Other major results included $4.505 million in Kensington, $4.1 million in Wahroonga and $3.99 million in Roseville.

Sydney therefore remains highly segmented.

Premium scarcity can still create exceptional outcomes even while broader values fall.

PropTrack reported Sydney prices declined another 0.3% in August and are now 4.9% below peak and 3.6% lower annually.

The latest Sydney Auction Results show that buyer demand remains selective rather than absent.

Brisbane

The Brisbane Property Market produced the weakest major-capital auction result.

Its clearance rate fell from 24.8% to only 19.4% from 128 auctions.

One year earlier Brisbane recorded a 66.3% clearance rate.

That year-on-year deterioration is substantial.

However, Brisbane remains primarily a private-treaty market, so auction clearance rates should not be interpreted as representative of every transaction.

PropTrack recorded Brisbane home prices declining 0.3% in August.

The change is significant because Brisbane had previously been one of Australia’s strongest markets.

The city’s transition from growth to correction confirms that higher borrowing costs are increasingly affecting markets beyond Sydney and Melbourne.

For the Brisbane Property Market, the current figures highlight how quickly market conditions can change when borrowing costs remain elevated.

Adelaide

The Adelaide Property Market improved from 37.6% to a 46.2% clearance rate from 115 auctions.

Nevertheless, the result remained dramatically below the 78.5% recorded during the same week last year.

Adelaide also recorded the largest monthly home-price decline among the capitals in August.

PropTrack reported values falling 0.9% during the month.

Despite this, Adelaide remains approximately 8% higher than a year ago and 71.5% higher than five years ago.

This provides useful context.

Adelaide is correcting from an extraordinarily strong base.

After prices increased by more than 70% in five years, affordability has become a meaningful constraint even though underlying housing supply remains tight.

The Adelaide Property Market therefore needs to be viewed against both its recent monthly decline and its much stronger longer-term performance.

Canberra

The Canberra Property Market recorded a 38.8% clearance rate from 49 auctions, down from 49.6% the previous week and substantially below 73.2% one year ago.

PropTrack recorded Canberra prices falling another 0.4% during August.

Canberra’s small auction volume makes weekly results volatile.

Stable public-sector employment provides some support, but high dwelling prices and mortgage serviceability continue to restrict demand.

The Canberra Property Market remains sensitive to both affordability and borrowing capacity.

Perth, Hobart and Darwin

The Perth Property Market and Hobart remain predominantly private-treaty markets, so weekly auction statistics provide limited insight.

PropTrack’s August results are considerably more useful.

Darwin was the only capital to record price growth during August, rising 0.1% and reaching a new peak.

Darwin values are now approximately 14.1% higher annually.

The contrast with Melbourne and Sydney demonstrates the extent to which Australia no longer has one national property cycle.

Affordable and supply-constrained markets are generally holding up better than expensive, debt-sensitive capitals.

The Perth Property Market is therefore another market where private-treaty activity is more relevant than weekly auction figures when assessing overall conditions.

Regional Victoria

The Regional Victoria Property Market continues to show greater price resilience than the capital cities.

PropTrack reported regional home prices were unchanged during August and remained 6.6% higher than a year ago, while combined capital-city prices fell 0.3% and recorded annual growth of only 0.2%.

Relative affordability remains one of the key reasons.

Geelong, Ballarat and Bendigo are not immune to higher interest rates, but their lower purchase prices provide buyers with greater flexibility.

For the Australian Housing Market, the growing difference between regional and capital-city performance remains one of the key trends to watch.

The Regional Victoria Property Market is also becoming increasingly relevant for buyers who are looking for more affordable alternatives to Melbourne.

Geelong

Geelong’s latest weekly sales reporting identified a three-bedroom Lara house as the highest-priced reported transaction for the week ending 5 September.

More importantly, the Geelong Property Market is entering spring from a relatively resilient position.

Geelong’s median house value is approximately $796,000, having fallen by a little more than $7,000 through winter.

Units sit around $582,000 and actually finished winter approximately $2,000 higher than they began it.

Geelong’s overall median home value remains approximately $5,900 higher than a year ago.

The market is increasingly divided by price.

Properties below approximately $800,000 are attracting stronger interest, supported by first-home buyers and purchasers relocating from Melbourne.

Homes above $1 million are generally experiencing greater price sensitivity.

This makes spring particularly important.

If listings increase faster than demand, vendors may face additional pressure.

But Geelong’s relative affordability, employment base, rail connectivity and access to the Bellarine Peninsula continue to support longer-term demand.

The Geelong Property Market therefore remains comparatively resilient, although buyers are becoming more selective by price point.

Ballarat

PropTrack-linked local reporting recorded 43 transactions across the Ballarat market during the latest weekly reporting period.

The leading reported transaction was 10 Tennis Street, which sold privately for $1.3 million.

The Ballarat Property Market continues to offer a substantial affordability advantage compared with Melbourne.

Its employment base across healthcare, education, government and professional services provides economic diversity, while rail access keeps the city connected to Melbourne.

However, buyers are becoming increasingly selective.

Renovation costs matter.

Energy efficiency matters.

Location relative to schools, transport and employment matters.

The strongest Ballarat properties are therefore likely to be established, well-maintained family homes where buyers can move in without requiring substantial immediate expenditure.

The Ballarat Property Market continues to demonstrate why regional markets cannot simply be assessed using capital-city auction trends.

Bendigo

A five-bedroom house in Golden Square was the highest-priced reported Bendigo transaction for the week ending 5 September.

The Bendigo Property Market remains predominantly a private-treaty market, making individual weekly auction clearance rates less useful than transaction volumes, days on market and price adjustments.

Its structural advantages remain similar to Ballarat: affordable housing, substantial healthcare and education employment, government services and an established regional economy.

For investors, however, regional resilience should not be confused with guaranteed capital growth.

Rental demand, maintenance requirements, tenant profile and future housing supply need to be assessed property by property.

The Bendigo Property Market continues to attract demand across established family suburbs, but investors still need to assess individual properties carefully.

The RBA and Interest Rates

The Reserve Bank of Australia cash-rate target remains 4.35%, effective from 12 August.

The next monetary policy update is scheduled for 29 September 2026.

Reserve Bank of Australia — current cash rate

RBA Interest Rates Australia remain the dominant headwind for Australian housing.

The RBA has increased the cash rate by 75 basis points during 2026.

Existing mortgage holders face higher repayments, while new purchasers face lower maximum borrowing limits.

That reduction in borrowing capacity is now translating directly into lower property prices.

For buyers and investors, RBA Interest Rates Australia will remain an important consideration when assessing borrowing capacity and property affordability.

Inflation Remains the Key Risk

The latest Australian Bureau of Statistics data showed annual CPI inflation easing from 3.8% in June to 3.5% in July.

However, underlying inflation remains stubborn.

Trimmed mean inflation was 3.6%, unchanged from June.

Housing costs increased 5% over the year, with new-dwelling prices rising 5.7% as builders passed higher material and labour costs to consumers.

ABS July 2026 CPI release

This matters because another rate increase remains possible.

Markets are increasingly pricing the possibility that the cash rate reaches 4.60% before year-end, according to PropTrack’s latest assessment.

Another rate increase would further reduce borrowing capacity just as spring listings increase.

Buyer Sentiment

Buyer sentiment remains cautious rather than absent.

This distinction is important.

There are still buyers.

The Bundoora auction involving seven bidders demonstrates that clearly.

But purchasers are becoming more selective about where they compete.

They are favouring properties that offer clear value, manageable repayments and limited renovation risk.

The broader lending environment also suggests hesitation. Recent reporting indicates first-home buyer mortgage pre-approvals have weakened nationally compared with a year earlier, consistent with buyers adopting a wait-and-see approach amid rate and policy uncertainty.

Buyers are increasingly willing to walk away if bidding exceeds comparable evidence.

That behaviour is helping prevent auction competition from automatically translating into metropolitan price growth.

The latest Australian Property Market conditions therefore continue to favour buyers who are prepared, financially disciplined and selective.

Vendor Sentiment

Seller sentiment is equally cautious.

Cotality recorded only 1,462 capital-city auctions in the first week of spring, more than 30% below the equivalent period last year.

Melbourne’s shortfall is particularly large.

This suggests many prospective vendors are delaying their campaigns.

Some may be waiting for clearer interest-rate direction.

Others may be reluctant to sell into a falling market.

This creates an interesting strategic window.

A vendor launching now may face fewer competing Australian Property Listings.

But delaying does not guarantee stronger prices.

If a large backlog of vendors enters the market later in September and October, buyer choice could increase significantly.

Global Economic Factors

Australian housing is also being influenced by developments beyond domestic interest rates.

Global bond markets, US economic conditions, energy prices and geopolitical instability all influence Australian funding costs and inflation expectations.

Recent financial-market movements have included lower oil prices and easing bond yields following softer US employment data, while Middle East tensions have moderated somewhat.

The international housing picture is also mixed.

The UK recorded its first monthly house-price increase since April during August, while several major US housing markets continue to experience price declines under the weight of elevated mortgage rates.

The broader global lesson resembles Australia’s experience: higher borrowing costs increasingly reward affordability and punish overextended markets.

Spring Forecast

The Australia Weekly Property Market Report points to a more active spring auction period, but the next few weeks will provide a much stronger test of market depth.

Cotality expects auction activity to increase over the coming weeks.

Its latest forecast indicates around 1,600 capital-city auctions for the week ending 13 September and approximately 1,700 for the week ending 20 September.

This will provide a much stronger test of market depth.

If Melbourne clearance rates remain around 60% as volumes increase, it would provide evidence that the market is genuinely stabilising.

If clearance rates fall as stock increases, it would suggest the recent improvement has been partly caused by unusually limited listing supply.

PropTrack expects home prices to continue declining over coming months, particularly in the capital cities.

The key variable will therefore be the relationship between spring supply and buyer demand.

This forms the basis of the Property Market Forecast 2026 for the spring period: activity may increase, but price pressure is likely to remain while borrowing costs and buyer capacity remain constrained.

The Property Market Forecast 2026 will ultimately depend heavily on how additional spring stock is absorbed by buyers.

Actionable Insights

For vendors, current conditions favour realistic campaigns. The strongest results are occurring where price expectations create competition rather than suppress it. Use recent comparable sales, monitor contract requests and second inspections, and establish your reserve and post-auction negotiation strategy before auction day.

For buyers, maintain a repayment buffer rather than borrowing to the absolute limit. Passed-in and withdrawn campaigns remain worth following closely. Competition remains strongest for affordable, well-presented homes, so complete finance approval and due diligence early if you intend to bid.

For investors, focus on sustainable cash flow rather than relying on short-term capital appreciation. Units and selected regional markets are displaying greater price resilience, but financing costs, tax, insurance, maintenance and rental demand should all be incorporated into the assessment.

Australia Weekly Property Market Report: Key Takeaways

The Australia Weekly Property Market Report for the week ending 6 September 2026 shows Melbourne opened spring with a 63.4% Saturday-based clearance rate from 654 auctions, but Cotality’s broader preliminary measure was lower at approximately 58.2%.

REIV reported a 73% Victorian clearance rate from 356 reported auctions, including 259 sales and 97 pass-ins.

Melbourne’s auction volume remains almost 40% below the equivalent week last year.

The reported Melbourne house auction median was $952,500, 13.9% below the corresponding week last year.

PropTrack recorded Melbourne home prices falling another 0.2% in August and 4.3% over the year.

Sydney recorded 62.6%, Brisbane only 19.4%, Adelaide 46.2% and Canberra 38.8%.

Regional markets continue to outperform capital cities on price resilience.

Geelong’s affordable market remains comparatively active, Ballarat recorded 43 weekly transactions in the latest reporting, and Bendigo continues to attract demand across its established family suburbs.

Inflation remains above target, leaving another RBA rate increase as a genuine risk.

The spring market is improving in activity—but it remains fundamentally buyer-sensitive.

The Australian Property Market therefore remains a market where buyers have more negotiating power, but strong properties can still attract competition.

Australia Weekly Property Market Report: Frequently Asked Questions

What was Melbourne’s auction clearance rate for the week ending 6 September 2026?

Melbourne recorded a 63.4% Saturday-based auction clearance rate from 654 scheduled auctions in My Housing Market’s dataset. Cotality’s preliminary Melbourne clearance rate was approximately 58.2%, while REIV reported a stronger Victorian clearance rate of 73% from 356 reported auctions.

Are Melbourne property prices falling in 2026?

Yes. PropTrack recorded Melbourne home prices falling another 0.2% during August. Values are now 5.3% below their peak and 4.3% lower than a year ago.

What are the latest Melbourne house prices?

The latest Melbourne House Prices data in this report shows a reported auction median of $952,500. This was down from $1.066 million the previous week and 13.9% below the $1.106 million recorded during the corresponding week last year.

What was Sydney’s auction clearance rate?

Sydney recorded a 62.6% clearance rate from 709 scheduled auctions. Cotality’s preliminary figure was more conservative at 57.7%.

What were the latest Brisbane auction results?

Brisbane recorded a 19.4% clearance rate from 128 auctions, down from 24.8% the previous week. One year earlier Brisbane recorded a 66.3% clearance rate.

How did Adelaide’s property market perform?

The Adelaide Property Market improved from 37.6% to a 46.2% clearance rate from 115 auctions. However, this remained well below the 78.5% recorded during the same week last year. PropTrack reported Adelaide home values falling 0.9% during August.

How is regional Victoria performing?

The Regional Victoria Property Market continues to show greater price resilience than the capital cities. PropTrack reported regional home prices were unchanged during August and remained 6.6% higher than a year ago, while combined capital-city prices fell 0.3%.

What is happening in the Geelong property market?

The Geelong Property Market is entering spring from a relatively resilient position. The median house value is approximately $796,000, while units sit around $582,000. Geelong’s overall median home value remains approximately $5,900 higher than a year ago.

What is the current RBA cash rate?

The Reserve Bank of Australia cash-rate target remains 4.35%, effective from 12 August. The next monetary policy update is scheduled for 29 September 2026.

How are interest rates affecting the Australian property market?

RBA Interest Rates Australia continue to influence borrowing capacity and buyer demand. Higher rates increase repayments for existing mortgage holders and reduce maximum borrowing limits for new purchasers, contributing to lower property prices.

What is the property market forecast for spring 2026?

The Property Market Forecast 2026 for spring points to increased auction activity. Cotality expects around 1,600 capital-city auctions for the week ending 13 September and approximately 1,700 for the week ending 20 September. PropTrack expects home prices to continue declining over coming months, particularly in the capital cities.

Is the Australian property market becoming more buyer-friendly?

The Australian Housing Market is becoming more buyer-sensitive in several respects. Auction volumes remain below last year’s levels, property prices have declined in several major markets, and buyers are becoming more selective. However, competition remains strong for affordable, well-presented properties, so conditions are not uniformly buyer-friendly across every suburb or property type.

Disclaimer: This report is for general information only and is based on market data available at the time of preparation. It does not constitute financial or investment advice. Market conditions may change, and readers should seek appropriate professional advice before making property decisions.