Transaction momentum steady despite rate rise

We scheduled 1,060 auctions across the month, a slight increase on the same period last year, a clear sign that seller confidence remains intact despite the shifting rate environment.

That said, the rate rise has certainly influenced buyer behaviour. While stock levels have held steady, competitive intensity has eased. We averaged 3.7 registered bidders per auction in February, representing a 15 per cent decline. Buyers are still active, but they’re more measured, more selective, and arguably more strategic in their approach.

Encouragingly, clearance rates remained resilient at 79 per cent for the month, a strong result by any standard and further evidence that demand continues to absorb available supply.

We remain in a fundamentally strong market. Consistent listing volumes are creating genuine choice and opportunity for buyers looking to enter, while still delivering solid outcomes for well-positioned properties.

However, this is a market that requires adjustment. The “new normal” means fewer buyers through open homes and slightly lower bidder depth at auction. Success will increasingly come down to execution: strategic pricing, disciplined buyer management, and a structured auction process.

Agents who adapt to these conditions and run the right process will continue to achieve outstanding results for their sellers, even as the market recalibrates.