Strong momentum as spring market gains traction

We scheduled 1,069 auctions across the month of October, down just 3 per cent year-on-year. This represents a significant shift from September's 13 per cent decline, indicating that spring stock is finally flowing to market after a delayed start to the season. Sellers are clearly regaining confidence and recognizing the opportunity to capitalize on current market conditions.

What's particularly encouraging is how buyers are responding to this increased choice. While we observed a modest dip in bidding numbers compared to September, competition remains robust with an average of four registered bidders and 2.8 active bidders per auction throughout October. These figures demonstrate that buyer demand continues to outpace supply, creating the competitive tension essential for strong auction outcomes.

October delivered a record-breaking month for NSW and ACT, recording an 81.5 per cent clearance rate, an impressive 11 per cent improvement year-on-year. This exceptional performance, combined with our auction volumes, reflects the group's unwavering commitment to the auction process.

Looking ahead, throughout November we anticipate stock levels will continue rising as sellers aim to settle before the holiday period. With healthy, consistent competition evident across our auctions and strong clearance rates underpinning confidence, the conditions are set for a dynamic finish to the year. For vendors considering their options, the message is clear: the market is active, buyers are engaged, and auctions continue to deliver results.