Residential
Explore
Across Ray White's network, we scheduled 947 auctions throughout August – while this represents a 16.4 per cent decrease year-on-year, the quality of results has been outstanding. Our clearance rate of 81.1 per cent demonstrates that despite lower stock levels, buyer demand remains robust and vendors are achieving strong outcomes.
The recent RBA rate cut, combined with positive changes to the First Home Buyer Scheme, has injected fresh momentum into the market. This is particularly evident in the $1-1.5 million price bracket – precisely where the enhanced First Home Buyer Scheme will have maximum impact come October 1. This segment recorded our highest auction volume with 109 properties and an impressive average of 5.5 registered bidders per auction.
Competition levels have strengthened across all price points, with registered bidders up 10 per cent, to an average of 4.4 per auction, while active bidders increased 9 per cent to 2.9. This uptick in bidding activity directly translates to better results for vendors and reinforces buyer confidence in the current market conditions.
Looking at spring, these strong auction results should provide the confidence boost that prospective sellers need to bring their properties to market. However, we're not anticipating an immediate flood of new listings – suggesting the supply-demand imbalance that has underpinned recent price growth will likely continue.
The combination of improved buyer sentiment, competitive bidding environments, and sustained low stock levels positions the spring market favourably. For vendors considering a sale, the current auction climate presents an opportune window to capitalise on strong buyer demand and achieve premium results.
