THE KNOCKDOWN: Anticipated rate cut to set auction market up for spring

The lower levels of stock in June and July have created an exceptional environment for current sellers as we saw a 10 per cent increase in the number of registered bidders, to an average of 4.6 per auction, resulting in an all sold clearance rate of 80.5 per cent.

The key moment for the month of July was the surprise announcement by the RBA to keep interest rates on hold. Our data indicates that it hasn’t had an impact on buyer behaviour, with 90 per cent of our auctions recording competitive bidding. However, lower stock levels indicate the rates hold may have slightly delayed sellers putting the property on the market by 4-8 weeks.

With all signs indicating a rate cut in August, we anticipate this will provide further confidence to the market and more listings will come to market in the lead up to spring. We're looking forward to seeing a vibrant auction market for spring selling season.