Auction clearance rates softened again in April, continuing the downward trend from March. However, they remained stronger than during the second half of 2024, with the clearance rate sitting at 60.4%. Auction volumes also declined, reaching their lowest April level since 2023, a shift attributed to public holidays affecting market activity.
Properties are selling more quickly in most capital cities, with days on market decreasing across all cities except Canberra. The report also highlighted varied discounting trends: Canberra and Brisbane saw an increase in price cuts, while Adelaide and Hobart recorded declines, suggesting differing market dynamics across regions.
Nicola Powell (pictured above), chief of research and economics at Domain, noted that the April slowdown was anticipated due to the timing of public holidays and the federal election.
“The April slowdown in buyer and seller activity was no surprise, with back-to-back long weekends and the federal election disrupting normal market flow,” Powell said. “Still, quarterly buyer demand is up year-on-year in most capitals, especially in previously slower markets like Sydney, Melbourne, and Canberra.”
She added that the dip in listings was expected, with some sellers choosing to list earlier in the year or delay due to political uncertainty.
