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That normal extends beyond the numbers themselves—it reflects a market where uncertainty has become an accepted constant, influenced by interest rate expectations and ongoing geopolitical tensions in the Middle East.
Across July, we scheduled 644 auctions, representing a 24 per cent decline compared to the same month last year. Despite lower volumes, clearance rates remained resilient at 68 per cent, demonstrating that well-positioned properties continue to attract committed buyers.
Buyer participation remains the most noticeable shift in the market. Registered bidder numbers averaged 2.7 per auction, down 44 per cent year-on-year. However, the data continues to highlight a clear "quality over quantity" trend. More than half (53 per cent) of the auctions with just a single registered bidder still resulted in a successful sale, reinforcing that competitive outcomes don't always require large bidder pools, only genuine buyers.
Pre-auction activity also remains a significant feature of the market, with 18 per cent of properties selling before auction. This reflects a pragmatic approach from vendors who are prepared to accept strong offers ahead of auction day when pricing expectations are met.
While there is no shortage of market commentary and external noise, our focus remains on providing clients with clear, accurate data so they can make informed decisions with confidence. The market is no longer in a state of transition, it has evolved. Success in today's environment is less about reacting to change and more about adapting to established market conditions.
An effective auction campaign should never be judged solely by the result on auction day. Like private treaty, it is a strategic process designed to maximise buyer engagement and create opportunities throughout the campaign. The agents achieving the strongest results are those who have embraced this reality, adjusted their approach, and continue to execute with discipline rather than relying on the conditions of previous markets.
