Sydney, Melbourne property slump drives 20pc drop in auctions

Aug 2, 2026 – 1.34pm Auction listings across the country have plunged nearly 20 per cent compared to a year ago as nervous sellers take their chances on the private market or park their plans to sell altogether until the market improves. A deepening housing downturn, which has hit major capital city markets in Sydney and Melbourne hardest, is driving the vendor retreat. Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Fetching latest articles