Residential
Explore
While many anticipated a cooling effect, the underlying metrics suggest that both buyers and sellers have effectively recalibrated to the current economic environment.
The following figures summarise the month's activity:
Total auctions conducted: 551
Bidding activity: 86.4 per cent of auctions saw active participation.
Auction day clearance rate: 66.6 per cent
Total sold rate (Incl. post-auction): 71.2 per cent
Average days on market: 31.9 days
The data reveals a significant level of engagement. With 86.4 per cent of auctions attracting active bidders, it is clear that buyers are no longer spectating from the sidelines. Instead, they are entering the market with a disciplined, research driven approach, remaining selective but competing decisively when high-quality properties arise.
The discrepancy between the initial clearance rate (66.6 per cent) and the final sold figure (71.2 per cent) highlights a robust depth in the buyer pool.
This 4.6 per cent uplift demonstrates that while some transactions require post auction negotiation, the appetite for property remains strong enough to bridge the gap between vendor expectations and buyer capacity.
The market has not stalled; it has simply become more measured. Vendors have adopted more realistic pricing strategies and buyers have largely factored the "higher for longer" rate environment into their borrowing power.
As we transition toward the winter months, we anticipate a seasonal tightening of stock levels. Historically, this reduction in volume serves to concentrate competition on remaining quality listings. Based on February’s performance, the auction process will likely continue to be the primary driver of transparency and price discovery in the months ahead.
