Property auction clearance rates plunge to COVID lows — but buyers, not lockdowns, are the culprit

Capital city auction clearance rates fell to 47.4 per cent for the week ending 21 June 2026 — matching early-pandemic lows. The difference: buyers are showing up. They're simply refusing to bid at reserve prices. More than half of properties passed in or were withdrawn, leaving sellers with a stockpile that needs relisting or renegotiation.