NSW Rejects Free Public Transport as Fuel Crisis Response — Sydney Auction Clearance Rate at 55%

Weekly Market Focus

As the fuel crisis continues to escalate, the New South Wales government has confirmed it will not introduce free public transport. While Victoria and Tasmania have announced fully subsidised fares to encourage residents to reduce car usage and ease fuel demand, NSW has opted for a different approach. Transport Minister John Graham said that free public transport would cost millions of dollars per day and would be difficult to sustain if the crisis were to last several weeks.

The NSW government is currently undertaking “serious contingency planning” to address tightening fuel supplies. Premier Chris Minns has called for a coordinated national response to the fuel crisis, while emphasising the need to preserve policy flexibility for longer-term economic impacts. No specific alternative measures have yet been announced, but the government indicated it would adjust public transport services based on demand.

Data suggests that fuel shortages are beginning to emerge. Across the state, around 1 in 37 petrol stations have run completely out of fuel, while approximately 1 in 7 stations are missing at least one type of fuel. At the same time, public transport usage has increased, with rail and metro patronage rising by around 4.5% and 3.7% respectively, indicating that some commuters are already shifting towards public transport.

However, unions and the opposition have criticised the government for not acting decisively enough, calling for at least fare reductions or increased service capacity to ease pressure on households. At the federal level, emergency legislation is being advanced to expand fuel reserves and secure import supply. Officials have also urged the public to avoid panic buying, stressing that the current issue is more about distribution than overall supply.

Last Week’s Auction Results

Sydney: A total of 1,326 properties were taken to auction, with results reported for 828 properties. Of these, 479 were sold, resulting in a clearance rate of 58%. The total auction value reached AUD 557,869,576, with a median price of AUD 1,606,500.

Melbourne: A total of 1,347 properties were taken to auction, with results reported for 1,020 properties. Among them, 604 were sold, achieving a clearance rate of 59%. The total auction value amounted to AUD 457,200,527, with a median price of AUD 951,000.