{"id":513208,"date":"2026-06-22T20:55:10","date_gmt":"2026-06-22T20:55:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/513208\/"},"modified":"2026-06-22T20:55:10","modified_gmt":"2026-06-22T20:55:10","slug":"australias-clearance-rates-among-its-capital-cities-currently-the-lowest-since-covid-19-began-in-april-2020","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/513208\/","title":{"rendered":"Australia\u2019s clearance rates among its capital cities currently the lowest since Covid-19 began in April 2020"},"content":{"rendered":"<p>Australia\u2019s capital cities are selling under half of all homes up for auction, according to startling new data.<\/p>\n<p>Property research firm Cotality has found the preliminary clearance rate for every capital city combined fell to 47.4 per cent over the past week.<\/p>\n<p>This would be the lowest clearance rate nationally since the spread of Covid-19 in April 2020.<\/p>\n<p>Cotality research suggested <a class=\"body-link\" href=\"https:\/\/www.realestate.com.au\/news\/family-home-beats-clearance-rate-slump-to-sell-at-heated-auction\/?campaignType=external&amp;campaignChannel=syndication&amp;campaignName=ncacont&amp;campaignContent=&amp;campaignSource=the_courier_mail&amp;campaignPlacement=article\" target=\"_blank\" rel=\"nofollow noopener\">clearance rates for the week<\/a> could fall even lower as more results came in, and could drift to lows closer to 40 per cent.<\/p>\n<p>Real estate comparison service bRight Agent suggested the results were thanks to shattered buyer confidence in today\u2019s changing market. <\/p>\n<p>Co-founder Aaron Scott said changes announced at the federal budget had combined with the usually slow months of winter to make an unappealing market for buyers.<\/p>\n<p>\u201cBuyers are terrified of overpaying into a shifting regulatory landscape, and bidding has grown incredibly thin,\u201d he said.<\/p>\n<p>\u201cIn a sub-50 per cent clearance market, properties are staying on the market longer, and passing a property in at auction is <a class=\"body-link\" href=\"https:\/\/www.realestate.com.au\/news\/affordable-capital-city-area-just-sold-a-house-for-shock-price\/?campaignType=external&amp;campaignChannel=syndication&amp;campaignName=ncacont&amp;campaignContent=&amp;campaignSource=the_courier_mail&amp;campaignPlacement=article\" target=\"_blank\" rel=\"nofollow noopener\">a stressful, costly exercise<\/a> for everyone involved.\u201d<\/p>\n<p>The latest preliminary results from REA Group placed all but two of Australia\u2019s states and territories beneath a 50 per cent clearance rate.<\/p>\n<p>Western Australia ranked the lowest on record, with only 11 per cent of homes sold at auction.<\/p>\n<p>Queensland\u2019s clearance rate currently sits at 34 per cent, with NSW at 39 per cent, ACT at 42 per cent and Victoria at 48 per cent. <\/p>\n<p>South Australia\u2019s results skewed higher at a clearance rate of 57 per cent, with the Northern Territory faring the best at 60 per cent.<\/p>\n<p>The poor results across the board came after the announcement of the new federal budget, which proposed changes to both negative gearing and the Capital Gains Tax.<\/p>\n<p>These changes included restricting negative gearing to newly-built homes, and a minimum 30 per cent tax on an investment property\u2019s future profits.<\/p>\n<p>These changes are set to take place in 2027 on July 1, with existing investment properties to be grandfathered in under the old rules.<\/p>\n<p>However, Mr Scott said the effect was already noticeable.<\/p>\n<p>\u201cWhile seasonal factors always play a part in June, the real driver here is a severe crisis of confidence,\u201d he said. \u201cThe persistent uncertainty surrounding the federal government\u2019s planned changes to negative gearing and the Capital Gains Tax has paralysed the market.\u201d<\/p>\n<p>Originally published as <a class=\"body-link\" href=\"https:\/\/www.realestate.com.au\/news\/australias-capital-cities-hit-lowest-clearance-rate-since-covid19-pandemic\/\" rel=\"nofollow noopener\" target=\"_blank\">Australia\u2019s capital cities hit lowest clearance rate since Covid-19 pandemic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Australia\u2019s capital cities are selling under half of all homes up for auction, according to startling new data.&hellip;\n","protected":false},"author":2,"featured_media":513209,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60,219157,219156],"class_list":["post-513208","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland","tag-nicholas-finch","tag-reqld"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/513208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=513208"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/513208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/513209"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=513208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=513208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=513208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}