What was the national auction clearance rate on June 7 2026?

The national preliminary clearance rate on June 7 2026 was 51.1%, the lowest reading since the April 2020 COVID lockdown period. Sydney recorded 52.9%, Melbourne 52.3%, Brisbane 31.9%, and Canberra 62%.

What clearance rate signals a buyer's market?

A clearance rate below 60% generally signals a buyer's market, where buyers have more negotiating power and properties are less likely to sell under competition. Below 55% suggests significant seller pressure. The current national rate of 51.1% represents one of the weakest buyer environments since the 2022 rate rise cycle.

Why is the Brisbane clearance rate so low in 2026?

Brisbane's clearance rate fell to 31.9% in June 2026, down from around 47% a year earlier. The collapse reflects the combined impact of three RBA rate hikes, the May 2026 federal budget negative gearing and CGT changes (which removed a key investor incentive), and rising supply from new builds in outer-ring suburbs.

Are property prices falling in Sydney and Melbourne in 2026?

Yes. Both Sydney and Melbourne have recorded price falls of more than 2% over the past quarter according to available data, consistent with clearance rates running well below 60%. CBA has revised its December 2026 dwelling price growth forecast down from 5% to 3% nationally, with larger falls possible in investor-heavy markets.

Is now a good time to buy property in Australia?

For buyers with solid pre-approval and a long-term horizon, sub-55% clearance rates represent genuine negotiating power that has not been available since 2022. Properties are passing in at auction and vendors are accepting conditions and price reductions. The risk is that rates rise further before cutting, which could extend the correction.

What does a low clearance rate mean for sellers?

A clearance rate below 55% means most properties listed at auction are not selling on the day. Sellers are more likely to need to accept post-auction offers, reduce reserves, or negotiate on price and conditions. In Brisbane at 31.9%, fewer than one in three properties auctioned is selling on the day.

Property MarketJune 20267 min read

Auction Market Hits Post-COVID Low: National Rate Falls to 51.1% as Brisbane Collapses to 31.9%

The June 7 2026 weekend delivered the weakest national preliminary clearance rate since the April 2020 COVID lockdowns. Sydney and Melbourne both fell below 53% -- territory last seen during the 2022 rate rise cycle. Brisbane recorded its lowest result since May 2020. Four weeks of data, city-by-city breakdown, and what it means for buyers and sellers right now.

Published June 11, 2026 by Raj Bhangu

What happened at auctions the week of June 7 2026?

The national preliminary clearance rate dropped to 51.1% -- the lowest since April 2020. Sydney came in at 52.9%, Melbourne at 52.3% (lowest since June 2021), and Brisbane at 31.9% (lowest since May 2020). The result reflects three consecutive RBA rate hikes and the budget shock to investor demand.

Key Takeaways

1National preliminary clearance rate June 7: 51.1%, the lowest since the April 2020 COVID lockdowns.
2Sydney: 52.9% -- third-lowest reading of 2026 and down from 74.2% the same week last year.
3Melbourne: 52.3% -- lowest preliminary rate since June 2021.
4Brisbane: 31.9% -- lowest since May 2020, down from approximately 47.8% a year ago.
5The four-week national trend (May 16 to June 7) shows a deteriorating pattern: 54.7%, 52.2%, 54.6%, 51.1%.
6Sydney and Melbourne have both recorded price falls of more than 2% over the past quarter.

Four-Week Clearance Rate Trend

The 60% reference line marks the rough threshold between a balanced market and a buyer's market. All three major markets have been running well below that line since the May budget.

Sources: Property Update, MacroBusiness, Domain Auction Results

June 7 City-by-City Snapshot

Canberra at 62% was the only capital to clear the balanced-market threshold. Every other major capital is in buyer's market territory.

Year-on-Year: The Scale of the Shift

The year-on-year fall is striking. Sydney and Melbourne have each dropped approximately 21 percentage points from the same period in 2025. Brisbane has fallen around 16 points.

Sydney

Sydney's 52.9% is the third-lowest preliminary clearance rate recorded in 2026. Affordability remains the core constraint -- the median Sydney auction price sits around $2 million and the serviceability buffer of 9.35% (current variable + 3% APRA floor) is cutting significant numbers of buyers out of their target price range.

Within Sydney, the west and south-west are the weakest, with some regions recording sub-30% clearance rates. The Lower North Shore and eastern suburbs remain more resilient, but even those markets are well below their 2025 averages. Units are clearing slightly better than houses (68.3% vs 59.2%), consistent with investors and downsizers remaining more active than upgraders.

Melbourne

Melbourne's 52.3% is the lowest preliminary clearance rate since June 2021 -- the tail end of the Delta lockdown period. The Inner South was the strongest region at 75%, but the Inner East recorded just 44.4%, a figure that would have been considered a crisis result just 18 months ago.

Melbourne's market has been under sustained pressure since the Victorian land tax changes of 2023 accelerated investor exits. The budget's negative gearing changes compound that. With supply continuing to reach the market and buyer demand constrained by rate expectations, the path to recovery looks longer here than in Sydney.

Brisbane

Brisbane's 31.9% is the standout weak result -- fewer than one in three auctioned properties sold on the day. This represents the most dramatic relative deterioration of any capital city. Brisbane ran above 65% clearance through most of 2024 on the back of interstate migration and Olympics-driven sentiment. That tailwind has completely reversed.

The May 2026 federal budget hit Brisbane particularly hard. The city had the highest concentration of investor purchasers of any capital in 2024-25. Removing negative gearing on established properties eliminated the primary reason many of those buyers were active. Supply from outer-ring developments continues to arrive at the same time demand has fallen sharply.

What This Means for Buyers, Sellers, and Investors

Buyers: more power than at any point since 2022

Sub-55% national clearance rates represent genuine negotiating leverage. Vendors are accepting cooling-off period extensions, price reductions, and flexible settlement terms that were not available at 70%+ clearance rates. Buyers who are pre-approved and ready to move quickly have a structural advantage in this market. The risk is that rates rise further before cuts begin, which could extend the correction and delay the recovery.

Sellers: pricing to market is non-negotiable

At 51.1% nationally, passing in at auction is the most likely outcome. Sellers who are anchored to 2025 price expectations will find that extended days-on-market leads to further price compression. The strongest results are coming from vendors who price at or below recent comparable sales and accept that buyer competition has fundamentally changed.

Investors: new builds remain the only fully tax-advantaged entry point

The May 2026 budget removed negative gearing on established properties acquired after 12 May. For investors still active in the market, new builds retain the full 50% CGT discount or indexation choice and are fully exempt from the carry-forward restriction. In a market where established property prices are falling, the relative premium for new builds may be shrinking while their tax advantage grows.

Frequently Asked Questions

Sydney recorded a preliminary clearance rate of 52.9% on the June 7 2026 weekend, the third-lowest reading of the year and down from 74.2% during the same weekend in 2025.

A 51% national clearance rate means roughly half of all properties listed at auction failed to sell on the day. It is a strong buyer's market indicator and the lowest national reading since April 2020 COVID lockdowns.

Brisbane's 31.9% clearance rate reflects three factors: three RBA rate hikes removing borrowing capacity, the federal budget's removal of negative gearing on established properties (Brisbane had the highest investor buyer concentration of any capital), and rising supply from outer-ring development.

Melbourne at 52.3% clearance is in one of its weakest buyer conditions since June 2021. Buyers with pre-approval and a long-term hold horizon have genuine negotiating power. The risk to timing is further rate rises before cuts begin.

Buying in a Buyer's Market? Get Pre-Approved First

Sub-55% clearance rates mean deals are available -- but only for buyers who can move decisively. A pre-approval in hand before you attend your first auction changes the conversation entirely. Book a free consultation and we will have you ready to buy within days, not weeks.

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Raj Bhangu

Principal Mortgage Broker

Licensed Mortgage BrokerCredit Representative 481761FBAA Member

Raj Bhangu monitors weekly auction data and property market conditions to give clients timely, evidence-based guidance for navigating every phase of the market cycle.

Sources & References

This article references information from the following authoritative sources: