Australia Weekly Property Market Report – Week Ending 11 October 2026

Melbourne’s Spring Auction Market Shows Signs of Resilience, but National Clearance Rates Remain Below 50%

Prepared for Ham Kerr Property | Reporting period: Friday, 9 October – Sunday, 11 October 2026

Executive Summary

This week’s Australia Weekly Property Market Report shows that Australia’s spring property market is still under pressure. National auction clearance rates stayed below 50% for the second weekend in a row, even though auction activity increased.

Cotality, formerly CoreLogic, recorded 1,781 auctions across the combined capital cities. The preliminary clearance rate was 48.8%. This was a small improvement on the previous weekend’s preliminary result of 48.2%, which was later revised down to 45.4%.

Buyer confidence appears to remain subdued after the Reserve Bank of Australia raised the official cash rate to 4.60% on 29 September. For readers following RBA interest rates Australia-wide, this decision is an important factor in deciding borrowing capacity.

Melbourne was Australia’s busiest auction market, with about 707 auctions and a preliminary Cotality clearance rate of 54.8%. Sydney recorded about 653 auctions and a preliminary rate of 52.9%. Brisbane had a much tougher weekend: just 21.4% of its 201 auctions produced a successful preliminary result.

The numbers show the Australian housing market is split. Buyers are on the search for appealing listings in established areas at more affordable prices. But they are careful about what they like to pay for.

For vendors, just because a property is listed during the spring selling season does not mean it will sell. They need to price the property right, market it well, and know what buyers are looking for.

The Melbourne property market has held up better than Sydney and Brisbane, but conditions are weaker than they were at the same time last year. My Housing Market reported a 60.5% clearance rate from 710 scheduled auctions, compared with 74.8% during the same weekend in 2025. Melbourne house prices at auction were also lower year on year. The reported median house auction price was $1 M, about 5.2% below the figure for the same weekend last year.

The Real Estate Institute of Victoria (REIV) reported a 71% clearance rate from 383 reported auctions. That larger number reflects the smaller sample it reported, so it shouldn’t be seen as an indication that the broader market is healthier. The result was 271 sales and 112 passed in properties. 319 auction results had not been reported at time of publication.

The outlook is still challenging. Australian home values have dropped for six months in a row, and borrowing costs are up, with more possible rate increases. But the downturn is not affecting all areas equally. But there is genuine interest in cheaper suburbs of Melbourne, some units and townhomes, and established family homes.

It’s not that the buyers have disappeared. The gap is growing. Buyers will pay for properties they perceive as being priced fairly. But they don’t want properties that they think are overpriced for the market today.

Weekly Auction Market Snapshot

These are the main figures covered in this Australia Weekly Property Market Report.

National and Capital City Results

Sources: Cotality preliminary reporting and My Housing Market’s Saturday, 10 October results.

Melbourne Auction Outcomes – Domain

Source: Domain Melbourne Auction Results.

REIV Victorian Auction Results

Source: REIV Weekly Auction Results.

Note on reporting: These numbers are not comparable. Cotality, Domain, PropTrack, My Housing Market and the REIV all have different reporting periods, geographical coverage, data collection methods and clearance rate calculations. Early numbers are subject to change as more results are reported.

Melbourne Property Market: Auction Activity Stabilises, but Buyer Caution Remains

The latest Melbourne auction results show another fairly steady weekend following the AFL Grand Final interruption. Cotality recorded about 707 auctions, up 6.2% from the previous weekend. But auction activity was still about 43.4% lower than during the same weekend last year.

The Melbourne auction clearance rate rose from a preliminary 50.6% to 54.8%. That is an improvement, but it needs to be viewed in the wider market context. In Cotality’s reporting, Melbourne’s preliminary clearance rate averaged about 45.5% during the first six weeks of spring. That was broadly in line with its winter performance.

This indicates the spring selling season hasn’t yet given a significant increase in buyer demand. Buyers remain cautious and auction volumes are still down.

Clearance rates can be helped by fewer properties going to auction. The big drop in listings compared to last year suggests some vendors are delaying their campaigns or choosing an alternate way to sell, at the same time. We’ll find out in the weeks ahead if Melbourne can sustain its current clearance rate as spring continues.

Melbourne Median Auction Prices

My Housing Market reported a median Melbourne house auction price of $1 million, up from $930,000 the previous week. Even so, it was about 5.2% below the $1.055 million recorded during the same weekend last year. This means Melbourne house prices at auction remain lower year on year, despite changes from week to week.

Units recorded a median auction price of $695,000 and a clearance rate of 68%. The clearance rate for houses was 58.8%. The combined auction median was $950,500.

The difference between house and unit clearance rates shows the effect of affordability. As interest rates rise and buyers can borrow less, some buyers change what they are looking for, rather than drop out of the market altogether. Now a detached house seeker may be considering a townhome, villa or apartment. This can be a good choice in existing suburbs. Buyers can still get to schools, transport and local amenities for a low price.

But a higher unit clearance rate does not mean that all flat markets are doing better. Buyers also need to check the condition of the building, owners corporation expenses, floor area and location. They also need to think about how the property compares to others in the area.

Melbourne’s Regional Auction Performance

Auction results differ across Melbourne’s regions. The Outer East recorded the highest clearance rate at 65.8%, followed by the South East at 62.5% and the West at 61.4%. The Inner South recorded 61.1%, and the North East reached 58.8%. The Inner East recorded 57.1%, while Inner Urban Melbourne had the lowest result at 53.7%. In other words, the Melbourne auction clearance rate depends on which part of the city you look at.

Median auction prices also varied by region. Inner Urban Melbourne recorded a median of $1.45 million.In the north the median was $718,500 and in the North East it was $832,000.

The figures show the importance of affordability in the housing market. Buyers in higher-priced areas need bigger deposits and have to make higher mortgage repayments. Even buyers with a bit more money are more cautious when property prices are falling and borrowing costs are rising. A lower price will attract a wider audience of buyers.

Picking the right comparable sales is important for vendors in Balwyn, Kew, Canterbury, Hawthorn and Camberwell. Just because it’s in a premium location doesn’t mean buyers will pay based on historical market conditions.

Notable Melbourne Auction Sales

Even in a subdued market, Melbourne auction results included several high-value sales. The highest reported auction sale was a five-bedroom home at 113 Riversdale Road, Hawthorn, which sold for $3.65 million. Other major sales included:

Source: My Housing Market’s reported weekly sales.

At the cheaper end of the market, a two-bedroom unit at 20/2-10 Monckton Place, Caroline Springs, sold for $440,000. These sales demonstrate that Melbourne deals are still happening at all price levels.

But a few big sales don’t mean the overall market is coming back. A premium property sells well for many reasons, such as scarcity, a great location or good maintenance. It also draws a number of interested buyers. But this does not mean property values are rising across the market.

Melbourne Passed-In Auctions: A Critical Indicator of Vendor Expectations

Domain reported that, of 514 reported Melbourne auction results, 139 properties passed in and another 78 were withdrawn. That means about 27% of reported results were pass-ins. Domain’s 58% clearance rate was also well below the 69% recorded during the same weekend last year.

These numbers tell us more than just the clearance rate. When the bids do not meet the vendor’s reserve price, a property passes in. There are many reasons why this can happen. There is little competition, the property has particular issues, the vendor is asking for a higher price or buyers have less borrowing capacity.

Vendors should analyze their pricing based on feedback from buyers during the campaign. Melbourne Passed-in auctions give buyers the opportunity to negotiate directly with the vendor. But buyers should compare sales, consider the condition of the property and get independent financial advice, rather than assume every pass-in is a bargain.

REIV: A Different Perspective on Victorian Auctions

The REIV recorded a 71% clearance rate from 383 reported Victorian auctions. It reported 271 sales: 181 properties sold at auction and 90 sold before auction. Another 112 properties passed in. The figures also showed about $306 million in reported auction sales and $470 million in reported private sales.

The REIV’s 71% result is much higher than Cotality’s preliminary Melbourne result of 54.8%. But the two figures do not conflict. The REIV result is based on fewer reported outcomes, while hundreds of auction results were still outstanding. Clearance rates change when more results are reported, such as unsuccessful auctions.

It is best to compare several sets of data instead of relying on a single figure. Overall, data from different providers show that Melbourne’s market is weaker than it was in spring 2025.

Victoria’s New Property Price Transparency Rules

October 2026 is an important month for Victorian real estate. New property-price transparency requirements came into effect on 1 October, including the Property Price Statement.

The reserve-price disclosure rules apply to auctions and fixed-date sales taking place on or after 16 October 2026. Agents publish the vendor’s reserve price at least seven days before the scheduled auction or fixed-date sale. The reserve price should be shown as one dollar amount and advertising updated to reflect this. If the reserve price has not been published for the entire seven days, the sale cannot be made as planned. These requirements have been confirmed by Consumer Affairs Victoria.

The new rules give vendors one more thing to think about when deciding whether to go to auction or sell privately. Buyers want to get vendors’ price expectations out on the table and reduce uncertainty. Agents and administrators need to carefully manage sales authorities, reserve price instructions, advertising, Property Price Statements and campaign deadlines. The coming weeks should show if the new rules affect the number of properties listed for auction.

Sydney Auction Results: Clearance Rates Fall as Auction Volumes Increase

Sydney had another difficult weekend. Cotality recorded about 653 auctions and a preliminary clearance rate of 52.9%, down from 55.7% the previous week. My Housing Market reported a similar rate of 52.8%, based on a larger schedule of 807 auctions. That was up from 521 auctions the previous week. Still, Sydney’s clearance rate remained well below the 76.4% recorded during the same weekend last year.

Domain’s preliminary Sydney auction results were weaker. It recorded 807 scheduled auctions, 483 reported results, 224 sales, 83 pass-ins and 176 withdrawals. The clearance rate was 46%, and the reported median auction price was $1.37 million.

The high withdrawal rate is worth mentioning. Some vendors may be delaying their campaigns, or rethinking them, rather than launching when there’s not much buyer interest. Sydney’s higher property costs also mean the market is more sensitive to limits on borrowing capacity.

The reported median house auction price was $1.75 million, about 6.8% lower than during the same weekend last year. Units continued to perform better than houses, with a 61.9% clearance rate compared with 48.2% for houses. The Inner West recorded the strongest regional result at 64.1%, while Sydney’s West recorded just 28.6%.

The highest reported auction sale was a five-bedroom property at 2A Barry Street, Clovelly, which sold for $6.825 million. Other notable sales were in North Bondi at $4.575 million and Concord at $3.98 million. Results show that while the premium property market continues to attract good interest, the wider market is facing some challenges.

Brisbane Property Market: Auction Conditions Deteriorate Further

Brisbane had one of the weakest auction weekends among the major capitals. Cotality recorded 201 auctions and a preliminary clearance rate of 21.4%. My Housing Market reported an even lower rate of 17.8% from 178 auctions.

Domain reported similar weak results. Out of 125 reported outcomes, 23 properties sold, 87 passed in, and 15 were withdrawn. That produced an 18% clearance rate. The reported median auction price was $1.92 million, but the small number of sales means the result can be strongly affected by the mix of properties sold.

These results stand out because the Brisbane property market saw substantial price growth in previous years. But that growth has made homes less affordable, and higher mortgage rates are now limiting how many buyers can compete at auction.

Most properties in Brisbane are sold through private treaty, so auction results cover only part of the market. But the high number of pass-ins suggests vendors are struggling to attract enough competition at auctions.

One notable sale was 26 Saunders Place, Wynnum, which sold for $2.3 million. A property at 87 Khartoum Street, Gordon Park, sold for $2.03 million.

Adelaide Property Market: Modest Improvement, but Conditions Remain Subdued

The Adelaide property market was a lot better than the weekend before. My Housing Market had 147 auctions with a clearance rate of 47.9%, up from 36.5% the week prior. Domain had a 45% clearance rate from 87 reported incidents. Of those properties, 39 sold, 43 passed in and five were withdrawn. The median auction price recorded was $885,000.

Adelaide’s market is still weaker than its recent growth phase, although results have improved. The importance of higher interest rates and less borrowing capacity becomes more prominent after years of strong growth in property prices.

A notable sale was 122 Williams Road, Gould Creek, which sold for $1.52 million. Other reported sales included Heathpool at $1.51 million and Prospect at $1.37 million.

Canberra: Buyer Confidence Remains Cautious

Canberra had 75 scheduled auctions. My Housing Market reported a clearance rate of 42.8%. Domain had a lower preliminary rate at 37% based on 59 reported results. Of these, 22 properties sold, 15 passed in, and 22 were withdrawn. The median reported was $850,000.

Weekly figures can be volatile in Canberra’s small auction market. But the number of withdrawals and pass-ins shows buyers are still being cautious.

Stable employment in the public sector and professional industries provides some support to the market. But higher borrowing costs are limiting how much buyers can afford.

Perth, Hobart and Darwin

Hobart, Perth and Darwin are heavily dependent on private treaty sales. So weekly auction clearance rates provide an incomplete picture of their property markets. For these cities property-price indices, total sales, listing numbers, time on market and vendor discounting are better indicators.

Cotality’s latest Home Value Index showed that Perth prices fell 1.2% in September and Hobart prices fell 0.5%. Darwin was the only capital to record monthly growth, rising 0.4%. These results show why each city needs to be assessed separately rather than treating the Australian housing market as one uniform market.

Geelong: Established Family Markets Remain Important

Geelong’s property market mainly relies on private-treaty sales. In the latest week of verified auction reports, a three-bedroom home at 4 Stork Avenue, Belmont, sold before auction for $637,500. Another three-bedroom home at 17 Itkeston Street, Herne Hill, sold for $882,500.

The sales are indicative of activity in established suburbs but not an overall representation of the property market in the region. Geelong still costs less than Melbourne. It also promises regular jobs, schools and good transport links. It is also near the Bellarine Peninsula and the Surf Coast.

But regional buyers are feeling the same borrowing-cost pressures as those in the cities. Homes that need a lot of renovation work may be harder to sell because buyers will have to factor in the cost of building work. The better placed, close to existing conveniences, these are well maintained good family homes that can attract real interest.

Ballarat: Affordability Remains an Advantage

The main method of selling property in Ballarat is by private sale. The latest auction results include a three-bedroom house at 1 Bentley Place, Ballarat East, which sold pre-auction for $479,000. The three-bedroom house at 5 Lorbenik Court, Brown Hill, has sold for $667,000.

These are individual sales and don’t tell the full story of the Ballarat weekly property market. The city continues to attract people over the long term because of its relative affordability and services in health care and education, government employment and rail links to Melbourne.

Buyers are becoming more selective. Established family homes, homes close to schools and transport, and homes that need little immediate spending, may have the edge. Major renovations to properties could face more difficulties.

Vendors need to focus on good presentation and realistic prices. Investors should look past the price of the acquisition. They might consider rental demand and vacancy rates, maintenance costs and sustainable cash flow.

Bendigo: Private Sales Remain the More Relevant Indicator

Bendigo also relies mainly on private-treaty sales. There was not enough complete and independently verified sales data for the weekend ending 11 October when this report was compiled. So, the report doesn’t include a weekly clearance rate for Bendigo, a median auction price or a top sale.

In the longer term, Bendigo has appeal for its healthcare, education and government jobs. And the housing market is cheaper as well. But higher interest rates do not protect regional properties.

Buyers are more interested in the property’s condition, location, ongoing costs and comparable sales. Compare rental yield against costs such as maintenance, insurance, finance and property management;

Australian Property Prices Continue to Decline

The latest monthly price indices put the auction figures in some context in this week’s Australia Weekly Property Market Report.

Cotality’s September Home Value Index recorded a 1.1% national decline. It was the sixth month in a row that values fell. National dwelling values were about 5.2% below their March 2026 peak. The decline has also spread widely: about 97% of capital-city suburbs recorded falling values in the three months to September.

PropTrack’s September Home Price Index recorded a smaller monthly decline of 0.2%. This placed national home prices about 3.3% below their March peak. The two providers use different methods, but both show that Australian house prices and unit values are continuing to soften.

It is possible to sell property at auction even when the wider market is falling. But the fact of sale does not prove the property has gone up in value.

Current comparable sales will be a more useful guide to vendors than prices from a stronger market.

RBA Interest Rates Australia: The Biggest Immediate Influence

On 29 September 2026, the RBA raised the official cash rate by 25 basis points to 4.60%. The decision was unanimous. The RBA pointed to persistent inflation, stronger-than-expected economic conditions and rising global costs.It also said further increases in interest rates could be considered if inflation does not move toward the target in a sustainable manner.

Interest rates affect the property market. They raise mortgage repayments and cut borrowing capacity. Buyers want to keep more money in the bank. Those who rely on the rental income to service their financing costs could also be under more strain.

For example, someone still wants to buy a property but can no longer afford to bid as much as they could earlier in the year. This explains why buyers continue attending property inspections even as auction clearance rates fall.

Global Economic Factors

Global developments are affecting Australia’s housing market. The RBA has identified higher energy prices linked to the conflict in the Middle East as a risk to inflation. It has also highlighted rapid growth in global artificial-intelligence investment. This is increasing demand for technology-related goods and infrastructure.

Higher business costs, energy prices and imported goods are putting upward pressure on Australian inflation.

The impact on the Australian housing market is indirect but significant. “If inflation is high, interest rates will stay high longer. The higher borrowing costs discourage buyers and pressure investors with big loans.

Global uncertainty impacts the market in many ways. A sharp slowdown in economic growth can help bring inflation down. But ongoing supply problems keep prices high.

For now, the outlook remains uncertain. Interest rates move in any direction.

Buyer Sentiment: More Choice, Less Urgency

The latest auction results indicate buyers still want to buy property but are being more selective. The high number of pass-ins in Melbourne, Sydney and Brisbane is a sign that many buyers are not prepared to stretch beyond their budgets. That’s a shift from markets where buyers felt a lot of pressure to move quickly for fear of missing out.

Buyers are taking their time after auction, comparing properties, questioning, and negotiating. Some things will not sell for less than what was expected.

There is still strong demand for houses in the most sought-after areas. This is the case for properties that have a practical layout and a good presentation and do not face much competition from similar properties. And the best campaigns that can compete are the best campaigns that demonstrate the value of the property.

Vendor Sentiment: Pricing Strategy Becomes Essential

The spring selling season is a good time for vendors to reach active buyers. But the usual rise in enquiries doesn’t mean a higher sale price.

Agents focus on second inspections, contract requests, building inspections and genuine bidder registrations. These are better signs of buyer interest than inspection numbers. Vendors should also consider the pros and cons of selling by auction or private treaty, especially now that Victoria’s new reserve-disclosure rules have come into effect.

Property Market Forecast October 2026: What to Expect Over the Next Four Weeks

The short-term outlook for the Melbourne property market remains cautious. Auction numbers are well below last year’s levels, and national property values continue to fall. Borrowing capacity will come under further pressure from higher mortgage rates. But fewer listings help support properties that are well presented and priced correctly.

In this Australia Weekly Property Market Report, our base case remains that Melbourne will remain a selective market for the rest of October. Negotiation is still going to be important. If conditions stabilise, final clearance rates could improve as vendors adjust expectations and there is less uncertainty about interest rates. More listings and lower borrowing limits could leave more room for post-auction bargaining if things go wrong.

The next RBA meeting is 3 November 2026. Watch the inflation and employment numbers over the coming weeks. The first auction weekends under Victoria’s new rules around reserve disclosure show if vendors are changing the way they sell.

Actionable Insights for Buyers, Vendors and Investors

This week’s Australia Weekly Property Market Report shows steps for buyers, vendors and investors.

For vendors it is important to set a realistic price based on recent comparable sales. Marketing should highlight the best features of the property. Vendors need to listen to buyers during the campaign and have a clear plan for negotiation prior to auction day.

Buyers need to get ready. Post latest RBA hike, have funds available for repayments and check your borrowing capacity.. A property that passes into an offer room to negotiate. But buyers still need to do all their checks and due diligence.

Investors care more about cash flow consistency. The rental yield is not the full story. Returns can be taken away by mortgage repayments, insurance, land tax, and compliance and maintenance costs. Professional property management can help with tenant selection, rent reviews, maintenance, and ongoing tenancy requirements.

Key Takeaways

This Australia Weekly Property Market Report shows that auction conditions are mixed but subdued. Melbourne remains the busiest capital market. Sydney’s preliminary clearance rate is 52.9%, while Brisbane’s is 21.4%. National home values fell for the sixth consecutive month, and the RBA cash rate is 4.60%. Victoria’s auction and fixed-date sale reserve-price disclosure rules take effect on 16 October. The outlook for the property market in October 2026 remains cautious. There are still buyers but you have to price realistically and have a strategy for each property.”

Frequently Asked Questions

These FAQs summarise the main figures in this Australia Weekly Property Market Report.

1. What was Melbourne’s auction clearance rate for the week ending 11 October 2026?

Cotality’s preliminary clearance rate was 54.8%, up from 50.6% the previous weekend. My Housing Market reported 60.5%, Domain reported 58%, and the REIV reported 71%. A direct comparison of these figures is not possible as each provider uses different methods and samples.

2. How many properties went to auction in Melbourne this week?

Cotality recorded about 707 auctions. That was 6.2% more than the previous weekend but 43.4% below the same weekend last year. Both Domain and My Housing Market listed 710 scheduled auctions.

3. What were the latest Melbourne auction results and median auction price?

Domain recorded 297 sales from 514 reported results, which shows a clearance rate of 58% and a combined median price of $950,500.

My Housing Market reported a median price of $1 million for houses and $695,000 for units.

4. Why are so many Melbourne properties passing in at auction?

A property passes in when the bidding does not reach the vendor’s reserve price. This happens when the vendor expects a higher price, buyers have less borrowing capacity, or there is limited competition among buyers.

5. How did Sydney’s property market perform this week?

Cotality recorded a preliminary clearance rate of 52.9% from about 653 auctions. That was down from 55.7% the previous week and 76.4% a year earlier. Domain reported 46%. Units had a clearance rate of 61.9%, compared with 48.2% for houses.

6. Why did Brisbane record a low auction clearance rate?

Brisbane’s preliminary clearance rate was 21.4% from 201 Cotality auctions. My Housing Market recorded 17.8%, and Domain reported 18%. Affordability and higher mortgage rates are affecting competition. Auctions also cover only part of Brisbane’s mainly private-treaty market.

7. What is happening to Australian house prices in October 2026?

Cotality’s September index fell 1.1%, marking the sixth consecutive monthly decline. National values were about 5.2% below the March 2026 peak. PropTrack recorded a 0.2% monthly fall, leaving prices about 3.3% below its March peak. About 97% of capital-city suburbs recorded falling values in the three months to September.

8. What is the current RBA cash rate? How does it affect the Australian property market?

The RBA raised the cash rate by 25 basis points to 4.60% on 29 September 2026. Rising interest rates increase mortgage payments and cut the amount buyers can borrow. The next RBA meeting will be on November 3, 2026.

9. What is the outlook for Melbourne’s spring property market in October 2026?

It’s a selective market for the case and negotiations will continue through the rest of October. Less stock is good news for well-priced and well-presented properties. But borrowing costs continue to constrain the buyers. Rules on disclosure of reserve prices from 16 October.

10. What should Australian property buyers and sellers watch in October 2026?

The RBA’s November 3 meeting, inflation and employment data and clearance rates from a number of providers. Sellers should use recent comparables for realistic prices. Buyers need to know their borrowing capacity and to set aside some cash to cover the repayments. They have to do their due diligence on properties that pass through.

Disclaimer: This report provides general property market information only and does not constitute financial, legal, taxation or investment advice. Auction results and clearance rates may be preliminary and may change as additional results are reported. Readers should seek independent professional advice before making any property or investment decisions.