Spring market surges as buyers remain active

We scheduled 1,044 auctions across September, up from 944 in August, providing much-needed relief to buyers who have been navigating a supply-constrained market for months. What's equally encouraging is that our clearance rate climbed from 81 per cent to 84 per cent, demonstrating that even with increased listings, demand continues to outstrip supply.

September presented an interesting test for the market. Two significant events loomed large—the RBA's decision to hold interest rates and the commencement of the updated First Home Buyer Scheme on October 1. While some agents reported hesitancy from buyers in FHBS-eligible markets as October approached, our auction data told a different story.

We recorded bidding at 93 per cent of our scheduled auctions, with an average of 4.9 registered bidders and 3.0 active bidders per auction. This robust competition translated into real results for vendors, with properties sold under the hammer achieving an average premium of 11.3 per cent above the highest offer received during the campaign period.

Looking ahead to October, the new FHBS is now active, and we anticipate continued growth in auction volumes. This increase in stock will provide buyers with greater choice while maintaining the competitive tension that has characterized the spring market thus far.

Our rising clearance rates and strong bidding numbers send a clear message: auction remains the optimal method for sellers seeking premium results. The combination of adequate supply and sustained demand has created market conditions where well-presented properties in good locations continue to achieve exceptional outcomes.

For vendors considering their options this spring, the data speaks for itself; now is an excellent time to go to market.