ABC September 2024 Market Conditions Report

We’re excited to share some BIG news – the September 2024 Business Sales Quarterly Report is out, and the numbers are looking impressive! Whether you're buying, selling, or just keeping an eye on the market, there’s a lot to celebrate (and talk about). Let’s dive into the key highlights shaping New Zealand’s business sales scene right now.

🔥 Record-Breaking Demand!
New Zealand’s business market is hotter than ever! Demand has skyrocketed with a jaw-dropping 22,404 confidentiality agreements signed in the past 12 months. That’s a massive 45% increase from the same time last year. More people than ever are looking to buy, and the competition is fierce.

📈 Sales Volumes Are Up
The surge in demand isn’t just talk—it’s leading to action. Business sales volumes have jumped 8%, with 400 business sales completed by September 2024, compared to 369 in the previous year. More deals are getting done, and sellers are cashing in on this momentum.

💰 Business Prices Are Rising
For the first time in 18 months, we’re seeing significant movement in business prices. The average business price has shot up by 5%, now sitting at $874,182 as of September 2024 (up from $831,329 last year). That’s a big jump, and it’s not by accident.

🏆 A New Record – Highest Average Business Price Ever
We’re officially in record territory! The new average business price of $874,182 has overtaken the previous high of $868,102 set in December 2022. What’s driving this? The growing demand for high-quality businesses. With more buyers in the mix, many businesses are attracting multiple offers, pushing sale prices higher than ever.

📊 What’s Behind the Trend?
There’s a perfect storm brewing in the market:

Unemployment levels are up, which means more people are looking to buy businesses and be their own boss.
Interest rates are falling, with more cuts expected, making it easier for buyers to finance their purchases.
These factors suggest we could see business prices continue to climb in the short to medium term. If you’ve been thinking about selling, this could be your golden moment!

Want to Dive Deeper?
This report is packed with insights into New Zealand’s current business sales landscape. Whether you’re curious about sales volumes, price trends, or the types of businesses attracting the most interest, the report has it all.