DOES AN ELECTION YEAR REALLY AFFECT AUCTIONS?
What happened in 2023?
With another election year upon us, a familiar question is popping up:
“Do buyers just sit on their hands until after the election?”
To find out, we asked our Central Area auctioneer, Marian Tolich. Marian kindly revisited her weekly auction notes from 2023 - the year of our last General Election (October 2023). What she found was both interesting and reassuring:
WHAT MARIAN NOTICED IN 2023:
Early 2023
Auctions were quieter - but not because of politics
Buyer activity was constrained by price adjustment, not uncertainty
Mid-year
Confidence returned well before the election
Auction rooms filled, bidder numbers increased, and competition drove prices
Late winter / early spring
Some of the strongest auctions of the year occurred weeks before election day
Deep bidding and decisive buyers were common
As the election approached
The election began to feature in conversations - but not in buyer behaviour
Auctions continued to sell when expectations were realistic and homes were well presented
THE KEY CONCLUSION
With the usual caveat often used in investment commentary: "past performance does not guarantee future results" - Marian’s notes suggest that the widely talked-about “election freeze” was largely a story, not a behaviour.
Buyers who were ready didn’t wait.
They showed up, competed, and bought.
What mattered most wasn’t politics - it was price, presentation, and a clear strategy.
