Auction clearance rates across Australia’s major cities have surged to a four-week high, reflecting increased market activity. Last week, the preliminary clearance rate reached 73.8% after 2,662 homes were auctioned, marking the highest volume of auction properties since early June.

The upcoming weekend promises even greater activity, with more than 3,200 homes scheduled for auction. Melbourne continues to be the busiest auction market, offering 1,168 homes and achieving a clearance rate of 74.4%. Sydney closely follows with 1,082 auctions and a clearance rate of 74.5%.

Brisbane’s auction market remains smaller, with 198 properties and a clearance rate of 70.7%. Meanwhile, the Australian Capital Territory saw clearance rates rise to 66.2%, up from 61.5% the previous week, and Adelaide topped the list at 77.4%.

Nicola Powell, Domain’s Head of Research, notes that the strong clearance rates are a clear signal that property prices are likely to continue rising through the spring selling season. “It really shows that the depth of demand is there. We’re well into spring now, and auction volumes are significantly higher,” she says.