Top auctioneer explains why the property market now feels like an election

Haesley Cush

Updated 20 Jun 2026, 5:05am

First published 20 Jun 2026, 5:00am

Auctioneer and co-founder of the Ray White Collective, Haesley Cush

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I have spoken to a number of journalists across the country over the last two weeks about softening clearance rates in Queensland and around the country.

Clearance rates are one of only a few live metrics in residential real estate.

Listings are another.

Realestate.com.au can report to the moment exactly how many listings are coming to site. This, when measured against other periods, can show an increase or decrease and tell a story on market performance.

But we don’t have this vision on general sales.

With auctions, the data is live. Even to the date and time.

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Cush says that lower clearance rates are not a reflection on auctions but a reflection on the market.

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But when reviewing the market it is sometimes misinterpreted and hence lost in translation. Lower clearance rates are not a reflection on auctions, they are a reflection on the market.

But they are not an easy read, for example five owners who ‘must sell’ will likely show a 100 per cent clearance, but does that translate to a strong market? Of course not.

So when reviewing clearance rates you need to look for patterns and dig for data.

What I am seeing is a stabilisation of the market and a level of caution being shown by buyers.

Let me elaborate. The current auctions I’m calling mostly have buyers/registered bidders.

But as a whole group, they are watching to see what others are doing to lead them on what they should do. If other buyers are bidding, then they will.

If others aren’t, then they won’t and that is leading to a sale post auction.

This is because buyers have seen a massive uplift in prices over the last 12 months and with headlines involving real estate these current buyers want to see that translate to better value if they can.

There has been a slow down in interest in some pockets of the market, but not in every part. The properties with low engagement, would have traditionally had low engagement, they just had a brief window of uplift when the market went through its ‘fear of missing out’ stage late last year and through early 2026.

Good properties are still very much in high demand and prices are still very strong.

A journalist friend asked me yesterday if this pattern was familiar and what I would relate it too? I told them it felt like an election period.

People are waiting to see what is going to happen.

I feel that time will do a bit of work, the fundamentals of the Brisbane market will prevail and prices will proceed at a steady pace.

*Haesley Cush is an auctioneer and co-founder of the Ray White Collective