Auction insights
Bidder participation at auctions in April remained relatively stable with registered bidders averaging 3.5 per property and active bidders at 2.4 per auction. These figures represent a slight decline from the previous month but remain indicative of steady competition in a market that continues to see relatively few properties available relative to buyer demand.
The longer-term trend shows bidder numbers sitting comfortably above the levels seen through most of 2022-2023, though below the exceptional peaks observed during the post-pandemic boom. This level of buyer participation reflects a market where serious buyers are continuing to compete for limited stock, creating the conditions for sustained price growth despite affordability challenges.
Bidder participation at auctions in April remained relatively stable with registered bidders averaging 3.5 per property and active bidders at 2.4 per auction. These figures represent a slight decline from the previous month but remain indicative of steady competition in a market that continues to see relatively few properties available relative to buyer demand.
The longer-term trend shows bidder numbers sitting comfortably above the levels seen through most of 2022-2023, though below the exceptional peaks observed during the post-pandemic boom. This level of buyer participation reflects a market where serious buyers are continuing to compete for limited stock, creating the conditions for sustained price growth despite affordability challenges.
Auction clearance rates have stabilised at 65.9 per cent in April, showing a modest improvement from the first quarter of 2025. While this represents a decrease from the particularly strong results in April 2024, it remains above the levels seen in 2023, reflecting a market with healthy buyer demand. The trend line indicates a consistent performance trajectory through the first four months of 2025, with clearance rates tracking between those recorded in 2023 and 2024.
With the expected interest rate cut in May, auction performance could see renewed strength as buyer capacity improves. Labor’s anticipated housing policies following the election could also inject additional demand into the market, particularly at the first home buyer end, potentially driving stronger clearance rates in the traditionally quieter winter months ahead.
The Ray White Group’s sales performance demonstrated some moderation in April, with unconditional sales reaching $7.2 billion. This represents a decrease from March’s $8.3 billion but reflects typical seasonal patterns as the market transitions from the peak autumn selling period. Despite this seasonal adjustment, the figure represents solid performance in a market characterised by reduced listing volumes.
Looking at the longer-term trend, we can see that sales volumes in early 2025 have generally matched or exceeded those from the same periods in 2023 and 2024, indicating a market with robust underlying demand despite affordability challenges. The January dip was more pronounced this year, but recovery has been strong through February, March, and now April.
The combination of continued price growth and steady transaction volumes suggests a market with balanced dynamics between buyers and sellers. The anticipated interest rate cut in May could provide further stimulus, potentially supporting sales volumes through the traditionally quieter winter period ahead. Similarly, the Labor victory in the recent election could bring policy changes that stimulate additional market activity, particularly with the proposed expansion of first home buyer support measures.
Ray White listing authorities, an important forward indicator for market supply, show a notable decline in April, dropping to approximately 7,000 from the previous month’s 8,000. This seasonal pattern aligns with historical trends, though at levels higher than those seen in 2023, suggesting a market that’s more active than recent years despite the monthly reduction. The current level of listing authorities suggests we may see some moderation in the rate of decline for new listings in the coming months, potentially easing some of the supply pressures currently driving price growth.
The anticipated interest rate cut in May could stimulate additional market activity, potentially encouraging more homeowners to list their properties as buyer demand strengthens. Similarly, post-election housing policies, particularly Labor’s expected expansion of the five per cent deposit scheme without income caps, could bring many more first-time buyers into the market, changing the dynamics for entry-level properties.
