Australia Weekly Property Market Report - Week Ending 2 August 2026

Melbourne recorded a 59% Domain clearance rate from 373 reported auctions, with 221 sales, 87 properties passing in and 65 withdrawals. The median auction price was $910,500.

While this represented an improvement on some of Melbourne’s weaker winter weekends, the result remained below the 66% recorded at the same time last year.

Sydney was softer, recording a 48% preliminary clearance rate from 301 reported auctions. There were 144 sales, 52 properties passed in and 105 withdrawals, with a median auction price of $1.46 million.

The withdrawal figure is particularly significant. More than one in three reported Sydney campaigns did not proceed to a completed auction result, suggesting many vendors and agents remain reluctant to publicly test the market where buyer depth is uncertain.

Brisbane recorded a 33% Domain clearance rate from 86 reported auctions, with 28 sales, 51 passed in and seven withdrawals.

Adelaide achieved a 43% clearance rate from 54 reported auctions, with 23 sales and 26 properties passing in.

State-level realestate.com.au figures also showed substantial volumes of passed-in and withdrawn properties.

Victoria recorded 168 sales under the hammer, 82 before auction and three after auction, compared with 133 passed in and 100 withdrawn.

New South Wales recorded 88 sales at auction and 97 before auction, alongside 198 withdrawals and 76 passed-in properties.

Australia Weekly Property Market Report: Weekend Market Snapshot 

Preliminary results are not directly interchangeable. Providers use different reporting periods, geographic definitions and clearance-rate calculations.

National Auction Performance

Melbourne’s Domain clearance rate improved to 59%, although it remained seven percentage points below the same weekend in 2025.

Sydney remained below 50%, with withdrawals representing almost 35% of reported results.

Brisbane and Adelaide continued to show weak auction conversion despite ongoing private-treaty activity.

Buyer leverage remains strongest where vendors continue to base their expectations on previous market conditions rather than current buyer feedback.

Combined Capital City Results

Auction clearance rates across Australia continue to show considerable variation.

Melbourne recorded the strongest preliminary Domain result among the major capitals covered, followed by Sydney at 48%, Adelaide at 43% and Brisbane at 33%.

The figures need to be read in the context of each market. Auction activity represents a much larger part of the sales landscape in Melbourne and Sydney than it does in markets such as Brisbane and Perth, where private treaty remains more dominant.

July Housing Market Overview

July brought another shift in Australia Housing Market News, with national home values moving lower.

Cotality reported a 0.7% fall in Australian home prices during July, the largest monthly decline since December 2022. Sydney fell 1.4% and Melbourne fell 1.2%, while annual national growth slowed to 5.3%.

PropTrack recorded a smaller national decline of 0.3%, although the direction was consistent.

Melbourne’s housing downturn extended into a fifth month, while regional Victoria continued to outperform the capital.

Melbourne Housing Market This Week

The latest Melbourne Property Market Update shows better auction conversion, but not a broad recovery.

Melbourne Auction Results

Domain recorded a 59% clearance rate from 373 reported auctions out of 570 scheduled.

There were 221 sales, 87 passed-in properties and 65 withdrawals, generating approximately $164.6 million in total reported auction sales.

The median price was $910,500.

At 59%, Melbourne produced the strongest preliminary result among the major capital cities covered by Domain for the weekend.

Realestate.com.au recorded 486 available Victorian results. Of those, 168 properties sold at auction, 82 sold before auction and three after auction. There were also 133 passed in and 100 withdrawn.

Clearance Rate Performance

The improvement in Melbourne Auction Results should not be interpreted as a return to a strong seller’s market.

A clearance rate in the high 50s generally points to a balanced-to-soft environment rather than widespread competition between buyers.

More than 40% of reported campaigns either passed in or were withdrawn.

The large number of properties selling before auction also suggests that many vendors are favouring certainty instead of taking the risk of an unsuccessful public auction.

Melbourne Buyer Demand

Buyers remain active, but they are becoming more selective about where they compete.

Properties with a clearly defined target buyer, good presentation, straightforward due diligence and realistic price expectations can still generate competition.

Homes carrying substantial renovation costs, poor natural light, awkward layouts, traffic exposure or ambitious reserves are facing greater resistance and are more likely to pass in or enter post-auction negotiations.

Vendor Pricing Behaviour

Current buyer feedback needs to be treated as real-time market evidence.

An auction campaign should not become a three-week exercise in testing an unrealistic price while consistent buyer feedback is ignored.

Better outcomes are more likely when expectations are adjusted before auction day, the reserve reflects current market evidence and genuine competition between qualified buyers is preserved.

Melbourne Housing Market Trends

The wider Melbourne Housing Market remains under pressure.

PropTrack reported Melbourne house values falling for a fifth consecutive month in July, with the typical house losing approximately $5,000 over the month and recording an annual decline of 3.6%.

Higher-end suburbs have been particularly exposed because reduced borrowing capacity has a greater dollar impact at premium price points.

Affordable owner-occupier markets have proved comparatively more resilient.

First-home buyers and families remain active where properties offer practical accommodation, transport access and proximity to schools or employment.

That does not make cheaper suburbs immune to price declines, but a larger number of households can access these price ranges, helping to broaden the potential buyer pool.

Melbourne Sub-Market Performance

Established inner and middle-ring suburbs remain highly selective.

Scarce, renovated period homes can still outperform, while generic apartments, compromised townhouses and properties requiring major structural work are facing greater resistance.

Buyers are also paying closer attention to the total cost of acquiring and owning a property rather than looking only at the contract price.

Australia Weekly Property Market Report: Sydney Residential Market Review

Sydney Auction Results

Sydney recorded a 48% Domain clearance rate from 301 reported auctions.

There were 144 sales, 52 passed-in properties and 105 withdrawals, generating approximately $138.9 million in total reported auction sales.

The median auction price was $1.46 million.

The median reflects the concentration of Sydney’s auction market in higher-value areas, although the withdrawal rate provides an even clearer indication of current conditions.

With 105 campaigns withdrawn, many vendors chose not to expose their property to the possibility of a public no-sale.

NSW Housing Market Conditions

Realestate.com.au recorded 464 available New South Wales results from 599 scheduled auctions.

There were 88 sales under the hammer, 97 before auction and five after auction, compared with 76 passed in and 198 withdrawn.

The reported state clearance rate was 41%.

Vendor Withdrawals

Withdrawals remain one of the strongest indicators of caution in the Sydney Housing Market.

Sydney recorded 105 withdrawn campaigns in Domain’s reported results, while New South Wales recorded 198 withdrawals in the realestate.com.au figures.

That level of withdrawal suggests vendors are becoming increasingly reluctant to proceed with an auction where buyer depth or pricing expectations remain uncertain.

Buyer Confidence

Sydney buyers remain particularly sensitive to interest rates because of the city’s larger average mortgage sizes.

Even financially secure households are limiting their bids where they identify renovation costs, strata issues or location compromises.

Quality homes can still attract competition, but buyers are less prepared to stretch beyond their limits simply because bidding has started.

Sydney Property Market Outlook

Pricing remains critical.

Where a campaign launches with a guide that successfully generates enquiry but does not reflect the reserve, the gap between buyer expectations and vendor expectations becomes apparent quickly.

When buyer feedback consistently sits below the reserve, continuing to auction without adjusting expectations can weaken the vendor’s negotiating position.

Over the next four to eight weeks, Sydney withdrawals may remain elevated until vendors accept lower buyer capacity.

Brisbane, Adelaide & Smaller Capital Markets

Brisbane Property Market Update

Brisbane recorded a 33% Domain clearance rate from 86 reported auctions.

There were 28 sales, 51 passed-in properties and seven withdrawals, with a median reported auction price of $1.2 million.

Realestate.com.au recorded 233 Queensland results from 293 scheduled auctions.

There were 49 sales at auction, 16 before auction and four after auction, while 133 passed in and 31 were withdrawn. The reported clearance rate was 29%.

The figures indicate weak auction conversion, but Brisbane remains predominantly a private-treaty market.

Auction results therefore represent a smaller and often more expensive selection of stock than they do in Melbourne or Sydney, and should not be treated as a complete measure of Brisbane’s wider price movement.

Even so, the high number of passed-in properties shows that vendors and buyers are having difficulty agreeing on value.

Auctions are more suited to properties where genuine scarcity exists and several finance-ready buyers are competing.

Private treaty may be more effective where buyers need additional time to sell another property, secure finance approval or complete building investigations.

Notable Brisbane-region transactions reported by Domain included a $2.5 million three-bedroom unit sale at Broadbeach, a $1.615 million four-bedroom house sale in Chermside West and a $1.73 million seven-bedroom house sale in Calamvale.

Quality properties are still transacting, but results are far from uniform across the wider market.

Adelaide Housing Market

Adelaide recorded a 43% Domain clearance rate from 54 reported auctions.

There were 23 sales, 26 passed-in properties and five withdrawals. The median auction price was $860,000.

Realestate.com.au recorded a 45% South Australian clearance rate from 78 available results, with 30 sales at auction, five before auction, 35 passed in and eight withdrawn.

The Adelaide Real Estate Market has been one of Australia’s stronger-performing capital-city markets over recent years, supported by affordability, limited supply and population growth.

July data nevertheless showed further softening, with the city’s combined dwelling value declining 0.5% over the month.

Annual growth remains positive, but the direction has changed.

Units are holding up better than houses in some parts of the market as affordability draws first-home buyers and downsizers towards lower price points.

Strong historical growth alone is no guarantee of current competition. Repayment costs and comparable sales are playing an increasingly important role in buyer decisions.

Canberra Auction Results

Canberra recorded 38 available realestate.com.au results from 51 scheduled auctions.

Seven properties sold at auction, eight sold beforehand and one sold after auction. Ten passed in and 12 were withdrawn.

With a relatively small sample, weekly clearance rates can be volatile.

Perth Market Overview

Perth recorded only 12 available auction results from 18 scheduled auctions.

There were two sales, five passed in and five withdrawn, producing a reported realestate.com.au clearance rate of 17%.

This is not representative of the broader Perth Property Market, where private treaty dominates.

Broader Perth price growth has slowed sharply following an extended period of strong gains.

Cotality’s July figures indicated previously strong mid-sized capitals were losing momentum, while PropTrack reported price declines in almost every capital city except Darwin.

Investors and owner-occupiers are becoming more selective as repayment costs rise.

Capital City Comparison

Hobart and Darwin also record relatively low weekly auction volumes.

For these markets, listings, private-sale volumes, vendor discounting and days on market generally provide more meaningful signals than a single weekend auction clearance result.

Across the capital cities, conditions remain uneven. Melbourne produced the strongest major-capital preliminary Domain result, Sydney recorded substantial withdrawals, Brisbane remained weak at auction and Adelaide showed further signs of slowing.

Regional Victoria Housing Insights

Regional Victoria continues to perform better than Melbourne on an annual basis.

PropTrack reported regional Victorian house prices approximately 4.8% higher than a year earlier, despite Melbourne recording an annual decline.

Lower entry prices, constrained supply in some centres and local employment demand continue to support parts of the Regional Victoria Property market.

Geelong Property Market

Geelong remains the regional market most closely connected with Melbourne.

Its diversified economy, university, health sector, port activity and proximity to the Surf Coast continue to support longer-term demand.

Buyers are nevertheless highly selective and are no longer paying metropolitan-style premiums simply for regional lifestyle appeal.

The strongest demand is likely to remain around renovated family homes with convenient access to schools, rail, health services and established retail areas.

Properties affected by flood risk, significant renovation requirements or poor transport access may require larger discounts.

Pricing against current local transactions rather than peak migration-era results remains important in the Geelong Housing Market.

Ballarat Housing Trends

Ballarat continues to attract buyers seeking affordability, established infrastructure and a strong regional economy.

Entry-level houses and practical family homes close to schools, health services and the CBD are likely to remain the most liquid segment of the Ballarat Real Estate market.

Investor demand is more cautious as higher interest rates, land tax settings and maintenance costs reduce cash-flow appeal.

Buyers also have more time to compare competing properties, increasing the importance of presentation and realistic price positioning.

Bendigo Property Market

Bendigo continues to benefit from health, education, government and professional services.

Buyer demand is strongest for well-maintained homes in established suburbs offering convenient access to employment and amenities.

Premium and highly individual properties may require more time to sell because they appeal to a narrower pool of purchasers.

A longer campaign may therefore be necessary, while individual auction outcomes should not be treated as representative of the entire Bendigo Property Market.

Private-treaty negotiation often provides a more useful indication of conditions.

Regional Victoria Buyer Activity

Across Geelong, Ballarat and Bendigo, the market is selective rather than inactive.

Homes meeting practical owner-occupier requirements are continuing to transact, while overpricing is contributing to longer days on market and deeper eventual discounting.

Investment Opportunities

Regional property should not be approached on the assumption that every lower-priced market offers the same opportunity.

Locations should be assessed according to sustainable employment and infrastructure, with broad tenant demand prioritised over speculative capital growth.

Auction Pass-Ins, Withdrawals & Buyer Negotiation Opportunities

This week’s Australia Weekly Property Market Report shows passed-in and withdrawn campaigns becoming increasingly important indicators of the balance between buyer and vendor expectations.

Why More Properties Are Passing In

High pass-in numbers across several markets point to a continuing gap between the prices vendors want and the amounts buyers are prepared to pay.

In Brisbane, 51 of the 86 reported Domain auctions passed in.

Realestate.com.au recorded 133 passed-in properties across Queensland.

In Melbourne, homes with substantial renovation requirements, poor natural light, awkward layouts, traffic exposure or ambitious reserves are also facing greater resistance.

Rising Vendor Withdrawals

Withdrawals are particularly notable in Sydney.

Domain recorded 105 Sydney withdrawals, while realestate.com.au reported 198 across New South Wales.

Victoria also recorded 100 withdrawals.

Alongside the substantial number of Victorian properties selling before auction, these figures suggest sellers are increasingly looking for greater certainty.

Buyer Negotiation Advantages

Buyer sentiment is cautious rather than inactive.

People are still purchasing homes for employment, family, schooling and lifestyle reasons, but they are less willing to compromise or overpay.

Building costs, owners corporation liabilities, insurance, energy efficiency and future resale risks are receiving greater scrutiny.

Finance approval is also becoming more important, with bidders setting firmer limits before auction day.

Passed-in and withdrawn campaigns can create negotiation opportunities where vendors become more flexible.

Private Treaty vs Auction

Auction remains suitable where genuine scarcity exists and multiple qualified buyers are ready to compete.

Private treaty can provide a better option where buyers require conditions, need longer to make a decision, must sell another property, are waiting on finance approval or need to complete building investigations.

This distinction is particularly important in markets such as Brisbane and Perth, where private treaty represents a much larger share of transactions.

Current Negotiation Trends

Vendor sentiment is adjusting, but not uniformly.

Some sellers are prepared to meet current market conditions, while others are delaying their campaigns until spring in the hope that confidence improves.

The challenge is that spring could bring more listings without a corresponding improvement in buyer capacity.

More stock would increase competition between vendors and could place additional pressure on properties without a clear point of difference.

Seasonal selling conditions should not automatically be interpreted as a guarantee of higher prices.

Economic Factors Driving Australia’s Housing Market

Three major forces continue to influence the National Property Market Australia: interest rates, tax policy and geopolitical uncertainty.

Interest Rate Environment

The slowdown follows three Reserve Bank rate increases during 2026.

Higher mortgage rates have reduced borrowing capacity, increased holding costs and made it more difficult for existing homeowners to upgrade.

Recent inflation data reduced expectations of another immediate rate increase, although rates remain restrictive.

National Home Price Declines

Cotality reported a 0.7% national fall in home prices during July, the largest monthly decline since December 2022.

Sydney declined 1.4%, while Melbourne fell 1.2%.

Annual national growth slowed to 5.3%.

PropTrack reported a smaller 0.3% national decline, but the overall direction remained consistent.

Housing Affordability

Affordability pressures are affecting different market segments in different ways.

Reduced borrowing power has a greater dollar impact at premium price points, making higher-end suburbs more vulnerable.

More affordable owner-occupier areas have generally proved more resilient because they remain accessible to a broader number of households.

Investor Confidence

Changes to investor tax settings have reduced demand in some areas.

Investors are reassessing after-tax returns, while sellers in investor-heavy markets are dealing with a smaller potential buyer pool.

Higher interest rates, land tax settings and maintenance expenses are also reducing the cash-flow appeal of some investments.

Inflation & Global Economic Risks

Geopolitical uncertainty, including conflict in the Middle East and volatile energy prices, is also affecting confidence and inflation expectations.

If energy costs increase, inflation could remain elevated even while housing conditions weaken.

If global economic growth slows, employment conditions and household confidence could deteriorate.

Supply and Demand Outlook

The Residential Property Market Australia remains caught between structural undersupply and cyclical affordability pressure.

Limited housing supply can support values over the longer term, but it does not prevent shorter-term declines when borrowing capacity contracts.

Housing Market Forecast – August 2026

The Housing Market Forecast Australia for the next four to eight weeks points to continued variation between markets rather than a uniform national direction.

Melbourne Market Forecast

Melbourne clearance rates are likely to fluctuate in the mid-to-high 50s, with quality stock outperforming.

Sydney Outlook

Sydney withdrawals may remain elevated until vendors accept lower buyer capacity.

Brisbane Expectations

Brisbane auction clearance is likely to remain weak, even if private-treaty transactions remain more resilient.

Adelaide Forecast

Adelaide’s recent price slowdown is likely to continue as affordability pressure spreads.

Regional Victoria Outlook

Regional Victoria should continue to outperform Melbourne, although not every town or property type will benefit equally.

Spring Selling Season Expectations

Spring listings may increase buyer choice and place additional pressure on poorly positioned campaigns.

If the RBA pauses, confidence may stabilise, but borrowing capacity will not recover immediately.

Premium markets remain more vulnerable than affordable owner-occupier segments.

Practical Advice for Buyers, Sellers & Investors

Current market conditions favour preparation, realistic pricing and disciplined decision-making.

Buyers Finance Preparation

Obtain updated finance approval and test repayments above the current interest rate.

Setting a firm borrowing limit before entering negotiations or bidding at auction can help maintain discipline when competition develops.

Negotiating Passed-In Properties

Passed-in and withdrawn campaigns are worth monitoring because vendors may become more flexible once the initial sales strategy has not produced a result.

Buying During a Soft Market

Compare the full cost of ownership rather than looking only at the purchase price.

Complete legal and building due diligence early and remain disciplined when bidding.

At the same time, scarce, high-quality properties can still generate competition, so softer overall conditions should not be assumed to apply equally to every home.

Sellers

Pricing Correctly

Price against current evidence rather than the strongest sale achieved during the previous growth cycle.

Consistent buyer feedback should be taken seriously before auction day rather than dismissed in the hope that competition will suddenly produce a higher result.

Auction Strategy

Use auction where genuine scarcity exists and multiple qualified buyers are prepared to compete.

Where prospective purchasers require conditions or more time to make a decision, a private-treaty strategy may be more appropriate.

Ham Kerr’s property sales services outline the different selling approaches available, including auction and private sale.

Presentation Tips

Presentation and due-diligence readiness remain important.

In selective conditions, buyers are assessing renovation requirements, natural light, layout, traffic exposure and other property-specific compromises more carefully.

Investors

Cash Flow Planning

Model investment cash flow using conservative assumptions around interest rates and vacancy.

Land tax, insurance, maintenance and compliance obligations also need to be considered when assessing the true holding cost of an investment.

For owners looking at professional management, Ham Kerr provides residential property management services across Melbourne’s eastern suburbs.

Selecting High-Demand Locations

Prioritise markets with broad tenant demand rather than relying on speculative capital-growth expectations.

Local employment and infrastructure remain particularly important when assessing regional locations.

Regional Investment Opportunities

Regional investment should be considered where local employment and infrastructure can support sustainable demand.

Previous annual growth rates should not be relied upon when setting future return expectations.

Weekly Property Market Summary – Australia Weekly Property Market Report

Key Market Takeaways

The latest Weekly Property Market Report Australia points to a market where pricing and property quality are increasingly determining outcomes.

Melbourne’s Domain clearance rate improved to 59% but remained below the corresponding weekend last year.

Sydney recorded a 48% clearance rate alongside a high number of withdrawals, reinforcing the cautious position of many vendors.

Brisbane and Adelaide both recorded weak auction conversion.

Cotality and PropTrack reported national home-price declines in July, while Melbourne values continued to fall faster than those in regional Victoria.

Buyers currently have more negotiating power in many situations, particularly following passed-in or withdrawn campaigns.

What Buyers Should Watch

Finance limits, full ownership costs and vendor flexibility following unsuccessful campaigns should remain front of mind.

Buyer leverage is generally stronger where pricing expectations have not adjusted to current conditions.

What Sellers Should Watch

Buyer feedback, realistic reserve positioning and the number of genuinely qualified purchasers should be assessed closely throughout a campaign.

Waiting for spring does not automatically guarantee a stronger result, particularly if listing volumes rise before borrowing capacity improves.

Looking Ahead

Australia remains a highly segmented property market.

Affordable owner-occupier areas, scarce family homes and selected regional markets continue to hold up better, while premium, investor-heavy and discretionary segments remain more exposed to affordability and confidence pressures.

The key message from this Australia Weekly Property Market Report is that buyers currently have greater negotiating leverage in many parts of the market, while well-presented, accurately priced and genuinely scarce properties can still attract competition.

Australia Weekly Property Market Report – Frequently Asked Questions

1. What was Melbourne’s auction clearance rate this week?

Domain recorded a 59% clearance rate from 373 reported Melbourne auctions, with 221 sales, 87 passed-in properties and 65 withdrawals.

2. How did Sydney’s auction market perform?

Sydney recorded a 48% Domain clearance rate from 301 reported auctions. There were 144 sales, 52 passed in and 105 withdrawals.

3. What happened to Australian property prices in July?

Cotality reported a 0.7% national fall in home prices during July, while PropTrack reported a smaller decline of 0.3%.

4. Is regional Victoria performing better than Melbourne?

On an annual basis, yes. PropTrack reported regional Victorian house prices approximately 4.8% higher than a year earlier, while Melbourne recorded an annual decline.

5. What should buyers focus on in the current market?

Buyers should keep finance approvals current, investigate passed-in and withdrawn campaigns, consider the full cost of ownership, complete due diligence early and maintain disciplined bidding limits.

6. What could happen during the spring selling season?

More spring listings may increase buyer choice and put additional pressure on poorly positioned properties, particularly if buyer borrowing capacity does not improve at the same time.

Disclaimer: This article is for general information only and does not constitute financial, legal or investment advice. Market data is preliminary and may be subject to revision.