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These numbers demonstrate the continued strength and activity we're seeing from both buyers and sellers across NSW.
A pivotal moment came the RBA announced its decision on interest rates. Recent inflation data led the RBA to hold rates steady, with commentary suggesting cuts remain off the near-term horizon.
While our data shows the market remains fundamentally strong, feedback from our network indicated a subtle shift in consumer confidence as the month progressed. Despite this, the numbers tell an encouraging story.
Our clearance rate for November increased by 5 per cent to a healthy 79.4 per cent, with our regional markets delivering particularly impressive results. Regional clearance rates jumped 10 percentage points to 70.5 per cent, highlighting the continued appeal of these areas.
Perhaps most tellingly, competition at auctions remained fierce throughout November. We averaged four registered bidders and 2.6 active bidders per auction – both metrics up 5 per cent year-on-year. This level of competition demonstrates genuine buyer demand and confidence in the market.
During December, we anticipate the natural seasonal slowdown, with our last scheduled auction Saturday falling on December 20. Open home attendance may soften as families turn their attention to the holiday season.
However, there's still considerable energy in the market. Active buyers are keen to secure properties before year's end, while sellers are motivated to transact before the holiday break. It's shaping up to be a busy final fortnight.
