{"id":448349,"date":"2026-05-18T21:40:10","date_gmt":"2026-05-18T21:40:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/448349\/"},"modified":"2026-05-18T21:40:10","modified_gmt":"2026-05-18T21:40:10","slug":"sydneys-auction-clearance-rate-plummets-to-lowest-level-since-covid-lockdown","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/448349\/","title":{"rendered":"Sydney’s auction clearance rate plummets to lowest level since COVID lockdown"},"content":{"rendered":"

Fewer than half of the homes listed for auction in Sydney<\/a> sold over the weekend – the lowest rate since the early days of the COVID-19 pandemic<\/a>.<\/p>\n

Last Saturday’s auctions marked the first test of the market since the federal government announced an \ufeffoverhaul of negative gearing and Capital Gains Tax (CGT) last Tuesday.<\/p>\n

\"\"\/Sydney’s auction clearance rates have fallen below 50 per cent – the lowest level since the pandemic low of April 2020. (Nine \/ Peter Rae)<\/p>\n

Even with just 616 homes going up for auction in Sydney on Saturday – almost 15 per cent fewer than the previous week – the clearance rate dropped to 49.2 per cent, according to Cotality data.<\/p>\n

That is Sydney’s lowest clearance rate since auctions were heavily disrupted by COVID-19 in April 2020.<\/p>\n

\ufeffIt was a different story elsewhere across the country, though, with Melbourne<\/a>, Brisbane<\/a>, Adelaide<\/a> and Canberra all seeing modest rises in clearance rates.<\/p>\n

Nationally, auction clearance rates crept up by 1.1 per cent to 57.5 per cent – the fifth time in the last seven weeks national clearance rates had held below the 60 per cent mark.\ufeff<\/p>\n

In Melbourne, 906 homes went to market and just over 61 per cent sold – an uptick of 3.\ufeff7 per cent from the week before.<\/p>\n

Perth had the lowest number of successful auctions out of all the capitals, with just 39 per cent of its auctions resulting in a sale.\ufeff<\/p>\n

Perth has seen astronomical gains in property prices in recent years, with home values soaring by 27 per cent in the last 12 months alone.<\/p>\n

The federal government’s tax changes announced as part of budget measures last Tuesday \ufeffinclude the winding back of negative gearing – a move expected to spook property investors.<\/p>\n

\"\"\/As property values creep downwards in Sydney and Melbourne, Perth is in the middle of a house price boom. (Getty)<\/p>\n

Even before this, Australia’s housing market appeared to be on the cusp of a downturn.\ufeff<\/p>\n

“Sydney and Melbourne are already five months into the early phases of decline, while growth is slowing across the mid-sized capitals,” noted Cotality Research Director Tim Lawless<\/p>\n

“Listings are picking up as demand softens, interest rates are rising while affordability and serviceability pressures are biting.”<\/p>\n

NEVER MISS A STORY: Get your breaking news and exclusive stories first by following us across all platforms.<\/p>\n","protected":false},"excerpt":{"rendered":"Fewer than half of the homes listed for auction in Sydney sold over the weekend – the lowest…\n","protected":false},"author":2,"featured_media":448350,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-448349","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/448349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=448349"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/448349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/448350"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=448349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=448349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=448349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}