Easter Auctions Sizzle, But Buyer Nerves Cool the Market

Australia’s housing market was buzzing with activity in the week before Easter, with a bumper 3,146 homes up for auction. It was the busiest auction stretch of the year so far — and the biggest since Easter 2024 — but the surge in listings didn’t exactly translate to booming sales.

In fact, the opposite happened.

Preliminary clearance rates dropped to 64.8%, marking the lowest result for 2025 outside the traditionally quiet January lull. So while agents were busy, the results didn’t quite match the hype.

What’s behind the drop? A mix of global worries and local political uncertainty seems to be giving buyers cold feet. There’s growing unease about fresh U.S. tariffs on Chinese goods, rattling global markets and reviving fears of another drawn-out trade war. At home, things aren’t much steadier, with the federal election just weeks away.

Caitlin Fono, a research analyst at CoreLogic Australia, summed it up: “We had a flood of homes go to auction, but confidence is dipping. Tariff tensions and share market wobbles have clearly spooked some buyers.”

The market’s timing couldn’t be more precarious. Australia heads to the polls on 3 May, and housing affordability is a hot-button issue. Both major parties — and even The Greens — are pitching bold housing policies, which often bring talk of negative gearing, capital gains changes, and first-home buyer incentives.

Buyers are clearly holding off until the dust settles.

This cautious mood is already reflected in the stats. Melbourne had the most auctions with 1,424 — down from 1,760 at the same time last year — and clearance rates slid from 72.9% to 67% in a week. Sydney also had a big weekend, with 1,307 auctions — its busiest since Easter 2022 — but clearance dipped to 65.5%.

Other capitals showed mixed results. Adelaide clocked a 62% clearance rate across 157 auctions. Brisbane only managed 57%, while Canberra stumbled to just 41% — its weakest showing since 2019.

Easter weekend will bring a sharp drop in activity, with around 635 auctions expected, before climbing slightly to 1,050 the week after. But many agents are bracing for a quieter market until the election is over and buyers get a better sense of what’s ahead.

Still, even in a jittery market, there are moments of excitement.

In Brisbane’s Camp Hill, one post-war home — owned by the same family since it was built — sold under the hammer for $1.92 million despite torrential rain. Six bidders crammed into the lounge room to vie for the 809-square-metre block, eventually snapped up by a developer. No price guide, no fluff — just strong demand for good land in the right spot.

So, while the market isn’t crashing, it’s definitely pausing. Sellers may be eager to get in while auction volumes are high, but buyers are taking a more cautious path — eyes on Canberra, and ears tuned to Wall Street.