Agent & Agency

Randwick's 73.5% Clearance Rate Defies Sydney's Rate-Rise 'Reality Check'

By Twin·@TwinTowerCity·10 Oct 2026

This article was produced with AI assistance and reviewed for accuracy. Content is for informational purposes only.

Sydney auctions logged widespread pass-ins after the latest RBA rate rise, but premium-suburb data from Randwick, Surry Hills and Kirribilli shows top agents in prestige postcodes are still clearing above 70%, exposing a widening performance gap across the city's auction floor.

Key Takeaways

Randwick (73.5%) and Surry Hills (73%) clearance rates are running well above REA Group's citywide 'reality check' narrative for Sydney auctions after the RBA's rate rise to 4.60%.
Premium NSW suburbs are clearing stock in 23-24 days versus 48 days in Port Macquarie and 38 days in Liverpool, a gap of more than three weeks.
Victoria's Toorak (72%) and Kew (71%) and WA's Nedlands (65.5%) and South Perth (63.5%) show the same prestige-tier resilience pattern seen in Sydney's eastern suburbs.

Sydney's auction market delivered a 'reality check' this week, according to REA Group, with multiple properties passing in well below reserve across the city following the latest Reserve Bank cash rate rise to 4.60%. Yet REAStats market data shows Randwick clearing at 73.5% and Surry Hills at 73%, a gap that separates eastern suburbs prestige stock from the rest of the Sydney auction floor. In Kensington, an AFL defender's investment terrace sold for $1.06 million to first home buyers in a contest the agent described as "done in less than 40 seconds," according to SMH Property.

Sydney's Reality Check Hits Mid-Market Harder Than Prestige

REA Group's reporting on this weekend's results frames the rate rise as the trigger for a wave of pass-ins, with buyer hesitancy showing up across price points. That hesitancy wasn't uniform. The Kensington result — a quick, decisive sale once bidding opened — suggests agents running tightly priced campaigns on well-positioned stock are still finding depth of demand, even as broader clearance figures soften.

A second data point from the same weekend reinforces the split. An inner west mid-century unit sold for $981,000 after two parties contested the auction, but when bidding stalled it was the vendor, not the buyers, who had to readjust expectations, per SMH Property. Australian Property Forum flagged the same sale as evidence that vendors nationally — including in Brisbane's Ascot, where median house values still rose 1% against the broader cool-off — are being forced to recalibrate pricing even where underlying demand holds.

Premium Suburb Clearance Rates Tell a Different Story

Set against REA Group's citywide reality check, the premium-tier numbers in REAStats data are notable. Randwick is running a 73.5% clearance rate with a 23-day median days-on-market figure. Surry Hills sits at 73% with the same 23-day cycle. Kirribilli clears at 72.5% across 24 days. These are not isolated results — they form a cluster of eastern Sydney suburbs holding clearance rates more than ten percentage points above what REA Group's reporting implies is now typical for the broader market.

Compare that to NSW's regional and outer-metro tier. Port Macquarie clears at just 46% with a 48-day median cycle — more than double Randwick's days-on-market figure. Liverpool sits at 60.5% over 38 days, and Penrith at 62% over 35 days. The pattern is consistent: the further a suburb sits from Sydney's harbour-fringe prestige band, the longer stock sits and the lower the clearance rate falls, even before accounting for the latest rate rise's dampening effect on buyer finance.

Randwick's 73.5% clearance rate and 23-day median sales cycle sit more than 27 percentage points above Port Macquarie's 46% result and over three weeks faster than that regional NSW market's 48-day average.

Cross-State Premium Benchmarks — Toorak, Kew, Nedlands and South Perth

The prestige-tier resilience isn't unique to Sydney. Victoria's Toorak clears at 72% with a 23-day cycle and 4.5% annual growth, while Kew runs at 71% over 24 days. Both sit well above Melbourne's broader auction conditions, mirroring the Randwick-versus-Port Macquarie split seen in NSW. Western Australia's premium pocket tells a sharper story again — Nedlands clears at 65.5% with a 15-day median cycle and 15% annual growth, while South Perth posts 63.5% clearance across just 17 days and 13.8% growth.

Lining up the three states, NSW's top-tier suburbs (Randwick 73.5%, Surry Hills 73%) currently outperform both Victoria's leading prestige markets (Toorak 72%, Kew 71%) and WA's fastest-moving premium suburbs on raw clearance rate, even though Nedlands and South Perth are moving noticeably faster on days on market. For agents operating across these markets, the data points to a consistent principle: prestige-tier demand is proving more rate-resilient than mid-market and regional stock, regardless of state.

Background: What the Clearance Gap Means for Agent Performance

Clearance rate and days-on-market figures are standard tools for assessing how agent performance is measured in the Australian market, and the current data set offers a clean test case. Agents working Randwick, Surry Hills and Kirribilli campaigns are achieving results in line with pre-rate-rise conditions, while those selling in Port Macquarie or Ballina are managing materially longer, harder campaigns. Because commission is typically structured as a percentage of final sale price, as outlined in our guide on How Real Estate Agent Commissions Work, the gap also shows up directly in agent earnings per listing, not just in headline clearance statistics.

This divergence is also visible in an international property market comparison, where prestige-tier assets in global cities have historically shown similar resilience during rate-tightening cycles, with lower-tier stock absorbing most of the demand shock. The Sydney data from this weekend fits that broader pattern closely.

For vendors currently weighing whether to list in a premium postcode versus a mid-market suburb, the clearance-rate spread is a useful proxy for likely campaign length and pricing flexibility. Agents reporting on Randwick, Surry Hills or Kirribilli campaigns can point to clearance rates above 70% as evidence that quality stock in these pockets is still transacting on competitive terms, even as REA Group's citywide reporting highlights a tougher environment overall.

The near-term signal for agents and vendors is straightforward: premium-suburb performance metrics are decoupling from the broader Sydney narrative. Agents running campaigns in Randwick, Surry Hills, Kirribilli, Toorak or Nedlands can reasonably expect clearance rates in the high-60s to mid-70s and days-on-market figures under 25, while those in Port Macquarie, Ballina or Dandenong-tier markets should plan for longer, more negotiation-heavy campaigns as the RBA's 4.60% cash rate continues to filter through buyer finance. Vendors choosing an agent in this environment should weigh recent clearance-rate and days-on-market data for their specific suburb tier over citywide headline figures.

Frequently Asked Questions

Why did Sydney's auction clearance rates drop this week?▾

Sydney's auction market experienced a 'reality check' this week, with many properties passing in across the city. This widespread hesitancy and drop in clearance rates are attributed to the latest Reserve Bank cash rate rise to 4.60%, leading to buyer caution across various price points.

Which Sydney suburbs are still showing strong auction clearance rates?▾

Despite a citywide dip, premium Eastern Suburbs are maintaining high clearance rates. Randwick cleared at 73.5%, Surry Hills at 73%, and Kirribilli at 72.5%. These figures are more than ten percentage points above the broader market and indicate sustained demand in prestige postcodes.

How are mid-market properties performing in Sydney's current auction climate?▾

The mid-market is reportedly being hit harder by the current 'reality check.' While well-positioned stock can still sell quickly, such as a Kensington investment terrace for $1.06 million, other mid-market properties, like an inner west unit that sold for $981,000, are seeing vendors having to readjust expectations due to stalled bidding.

What is the median days on market for properties in Randwick compared to other areas?▾

Randwick properties have a median days-on-market figure of 23 days, which is consistent with Surry Hills (23 days) and Kirribilli (24 days). This is significantly faster than regional and outer-metro areas like Port Macquarie (48 days), Liverpool (38 days), and Penrith (35 days).