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Buying or selling property is one of life’s biggest financial decisions. From 1 July 2026, there is one important change that every Victorian property buyer and seller should understand.

Week ending Sunday 21 June 2026, Australia’s auction market weakened further, with the latest preliminary data from Cotality showing:

Week ending Sunday 21 June 2026, Australia’s auction market weakened further, with the latest preliminary data from Cotality showing:

The King’s Birthday long weekend slowdown was somewhat reversed in Australia’s auction market, although overall conditions in this Australian Property Market Update 2026 are still quite favourable to buyers. Melbourne had a preliminary clearance rate of about 55.1% from 503 auctions, up from 47.8% the previous week, while Sydney stayed in the low-to-mid 50% range. Clearance rates are still well below the 70%+ levels usually linked to robust seller’s markets, even with the recovery.

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Australia’s auction market showed early signs of stabilisation over the latest weekend, as highlighted in our latest Weekly Australian Property Market Update, with both Melbourne and Sydney recording modest improvements in clearance rates. Growing expectations of future interest-rate relief, combined with a lift in buyer confidence, appear to be filtering through the market and influencing purchasing activity.

May wrapped up with the property market feeling the squeeze, and it was pretty evident across the board. Sydney, Melbourne, and most of the other major capitals finished the month with clearance rates stuck below the kind of numbers you’d associate with a proper seller’s market. Higher interest rates, stretched affordability, and an ongoing cloud of policy uncertainty are all playing into this, and buyers know it.

This Australia property market weekly update provides a snapshot of the latest auction activity, buyer sentiment and market performance across Australia’s major property markets.
​Australia’s auction market is starting to find the right track with both Melbourne and Sydney posting modest gains in clearance rates over the most recent weekend. Market activity is starting to show increasing expectations of interest rate relief, along with a slow pickup in buyer confidence.

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Discover the latest Australia Real Estate Market Outlook covering Melbourne and Sydney auction trends, clearance rates, Regional Victoria growth, buyer sentiment, and property market forecasts for 2026.

Activity at Australia’s auction sales remained subdued during the first weekend of May 2026. This can be attributed to high levels of supply, coupled with affordability issues and the fact that there is still no certainty when it comes to future interest rate decisions.