Australia’s capital cities continue to see strong auction activity, with 2,500 homes going under the hammer last week and another 2,000 scheduled for auction this coming weekend.

The combined capital city clearance rate reached 68.7%, with Melbourne leading at 70.6%, followed by Sydney at 69.1%, Brisbane at 61.5%, and Adelaide at 60.8%.

This auction performance coincides with a rise in new property listings, according to REA Group data, which shows a 16.4% month-on-month increase.

However, overall supply remains 7.9% lower than the same time last year, suggesting ongoing market tightness.

While new listings are up across all capital cities month-on-month, year-on-year figures reveal gains only in Brisbane and Adelaide, while Sydney (-7.3%) and Melbourne (-15.1%) have recorded declines.

According to PropTrack senior economist Eleanor Creagh, both capital city (-7.0%) and regional (-9.5%) markets have seen fewer new listings compared to the previous year.

This reflects a cautious selling environment, where some homeowners may be holding off on listing due to higher borrowing costs, affordability concerns, and economic uncertainty.