October 2025 Bsale Market Insights Report

The September 2025 quarter marks a turning point for Australia’s business sales market, according to the latest Bsale data. Listings climbed 4.4% to 15,577, average prices rose 6% to $654,000, and 627 businesses were marked as sold which is a 23% quarterly jump and clear evidence that buyer confidence is returning despite softer enquiry volumes.

With more well-established businesses hitting the market, interest rates dropping in 2025, conditions are strengthening for a solid sales environment ahead. While access to finance remains a challenge, brokers report that strategic deal-making and flexible terms are helping transactions get across the line.

This report analyses business for sale activity across Bsale’s national marketplace for the September quarter and 2025. The findings are based on user-entered data, including advertised prices and listing statuses, and are intended to provide a general overview of current market trends. As data is self-reported by sellers and brokers, inconsistencies may occur particularly where listings are updated, removed, or sold privately. While every effort has been made to ensure accuracy, these insights should be viewed as a guide to overall market direction rather than relied upon for financial or investment decisions.

Overview National Listings on Bsale

As at September 30th, there were 15,577 active listings on Bsale, up 4.4% from 14,914 in March.

The average advertised price increased 6%, rising from $616,974 in March to $654,000 in September. Suggesting higher quality businesses have entered the market.

Over the same period, the total market value climbed 11%, from $9.2 billion to $10.2 billion, which is inline with the average price. Suggesting higher valued businesses are being listed.

The steady rise in listings and total market value through 2025 highlights growing confidence among business owners. The number of listings rose by 4.4% since March 20225, with average advertised sale price rising 6%. This consistent upward trend points to more established and higher-value businesses entering the market, as sellers take advantage of improving economic conditions and stronger buyer sentiment heading into spring.

While buyer enquiries eased slightly during winter, the increase in well-prepared listings shows a more strategic approach from sellers. Businesses with strong cashflow, proven systems, and clear growth potential are dominating new listings. This shift toward quality over quantity reflects a maturing market one that rewards realistic pricing, transparency, and strong fundamentals as confidence builds toward the end of 2025.

Brokers are also reporting an increase in “boomer businesses” or long-established enterprises coming to market as owners retire. These well-run operations, often with loyal staff and steady profits, are appealing to buyers seeking reliable cash flow and lower-risk investments.

State Market Information

Queensland and the ACT led Australia’s business sales growth this quarter, recording the strongest increases in average asking prices at 4.9% and 19.2% respectively. New South Wales and Victoria also posted steady gains, reinforcing national confidence heading into summer. In contrast, Tasmania and Western Australia showed softer price movements, though both saw growth in total listings, indicating renewed seller activity. Overall, the third quarter of 2025 reflects a stable, maturing marketplace where quality listings and realistic pricing continue to drive buyer engagement

New South Wales

NSW continues to lead the nation, accounting for nearly a third of all listings. As of September 2025, there were 4,694 active businesses for sale, up 4.4% since June and 5.7% since March. The average asking price rose from $594,854 to $604,776, a 1.7% increase for the quarter and 5.5% higher year-to-date. NSW remains the heartbeat of Australian business sales, driven by strong demand across hospitality, retail, and professional services.

Queensland

Queensland remains Australia’s standout performer, showing sustained growth in both listings and value. Listings climbed 2.8% from June to 3,577, while the average asking price surged 4.9%, from $722,659 to $758,259 a 13.4% rise since March. The state’s mix of lifestyle appeal, affordability, and strong population growth continues to attract buyers across regional and coastal hubs.

Victoria

Victoria’s market remains steady and balanced, showing consistent improvement through 2025. Listings rose 4.9% from June to 4,111, while the average asking price edged up to $566,449, a 0.7% quarterly rise and 3.8% higher than March. Melbourne and major regional centres continue to perform well, particularly in hospitality, retail, and franchise sectors.

Western Australia

WA recorded 1,812 listings in September, up 2.7% since June and 5.9% since March. The average asking price increased to $675,334, a 1.6% quarterly rise, though down about 0.9% since March ($681,564). More affordable listings are driving activity, with essential services, logistics, and food-based businesses performing strongly, supported by regional growth and ongoing mining investment.

South Australia

SA continues to be one of the country’s most stable markets. Listings held steady at 610, while the average asking price increased 4.1%, rising from $645,901 to $672,554 in the September quarter. Prices are now slightly above March levels, indicating confidence has returned after early-year softening, especially in hospitality, trades, and local retail.

Tasmania

Tasmania saw 371 active listings in September, up 6.9% since June and 14.8% since March, one of the highest growth rates nationally. The average price eased from $589,641 to $580,292, a 1.6% quarterly decline. Sellers appear to be aligning more closely with buyer expectations, while tourism, food production, and boutique retail continue to anchor demand.

Australian Capital Territory

The ACT showed strong price growth through 2025 while supply remained tight at 151 listings. The average asking price jumped from $482,496 to $575,496, a 19.2% quarterly increase and 24% higher than March. Established and service-based businesses around Canberra are seeing firm demand from both investors and owner-operators.

Northern Territory

The NT continues to build momentum, with listings rising 10% from June to 88. The average price increased 10.5% in the quarter to $549,830; compared with March ($553,555), values are down slightly year-to-date. Confidence is improving across transport, construction, and essential service sectors.

Where Buyers Are Enquiring

Across Australia, the strongest-performing sectors this quarter were retail, hospitality, and essential services, together accounting for nearly half of all recorded sales. Supermarkets, cafes, and takeaway outlets continue to attract lifestyle buyers, while health, NDIS, and automotive businesses remain popular for their stable returns and low operational risk.

Buyer enquiries climbed steadily through the first half of 2025, peaking mid-year before easing in the September quarter. Despite the slowdown, enquiry levels remain above late 2024 figures, positioning the market for a rebound in the final quarter.

The pattern is clear, buyers are chasing stability. Food, beverage, and grocery-based businesses remain the most in-demand, often combining solid turnover with local recognition and operational simplicity. Similarly, listings in the cafes, gyms, and service-based categories continue to perform strongly, particularly in Queensland and New South Wales, where lifestyle and work-life balance influence purchase decisions.

Emerging categories such as AI and vending are starting to attract attention, suggesting that buyers are gradually broadening their horizons toward scalable and modern business models. However, the overwhelming trend remains a preference for steady, community-driven operations with reliable cashflow and proven history.

Across the top listings, Western Australia dominated enquiries (around 55%), followed by Queensland (20%), New South Wales (15%), and Victoria (10%). These numbers reflect both market confidence and concentration of listings, with WA and QLD currently leading Australia’s small business activity.

Overall, enquiries show that while buyers are more cautious post-winter, their focus has sharpened toward quality, well-established businesses. Listings that combine brand strength, essential services, and local presence continue to capture the majority of buyer attention heading into the end of 2025.

After a strong start to the year, enquiry levels tapered through the cooler months before stabilising in early spring. Between January and May, enquiries climbed more than 30%, reaching some of the highest levels in recent years. Over winter, buyers paused to reassess borrowing capacity as interest rates began to shift.

The Reserve Bank’s rate cuts from 4.35% to 4.10% in February, 3.85% in May, and 3.60% in August have provided much-needed relief after a long period of tight monetary policy. Historically, October and November see a rise in enquiries, positioning the market for a strong finish to 2025.

Economic Conditions and Buyer Confidence

The RBA’s three consecutive rate cuts in February, May, and August 2025 have helped ease pressure on both buyers and sellers, signalling growing confidence that inflation is under control. With the cash rate now sitting at 3.60%, these reductions have opened up more flexible lending conditions and boosted optimism across the market. The shift is translating into more creative deal-making, smoother negotiations, and a noticeable lift in confidence as more quality businesses are hitting the market.

“Higher borrowing costs have dampened some buyer enthusiasm,” says Shreynash Shah, Xcllusive Business Sales. “However, it’s shifted the conversation towards creative deal-making, where vendor finance and earn-out structures are becoming more common.”

Across the Tasman, Richard Jacobs of Barker Business Brokers adds, “Finance is still available, but banks are taking a cautious stance. Buyers are expected to present detailed forecasts and demonstrate reliable cashflow, while due diligence is more comprehensive than ever.”

Together, these perspectives reveal a more strategic, analytical buyer mindset that deals are still getting done, they’re just being done smarter.

What’s Selling July to September 2025

Business sales have continued to strengthen through 2025, with each quarter outperforming the last. The March quarter began slowly, with 292 businesses marked as sold on Bsale, typical for the start of the year as school holidays and summer breaks quieten buyer activity. Momentum picked up sharply in the June quarter, where 511 businesses sold as confidence improved and buyers moved to secure deals before the end of the financial year.

The September 2025 quarter delivered the strongest results yet, with 627 businesses marked as sold which is a 23% rise from June and more than double the March total. Compared to the same quarter in 2024, when around 580 businesses sold, this represents an 8% year-on-year increase and a clear signal that buyer confidence and transaction activity have rebounded strongly.

The average advertised price for sold listings climbed to $571,000, up from $545,000 in June, while the median lifted from $200,000 to $230,000. Though these figures reflect advertised rather than final sale prices (and may exclude stock, GST and other factors), they indicate a shift toward established businesses successfully changing hands.

Retail remains the most active category, accounting for roughly 25% of all sales, followed by hospitality at just over 20%. Health, NDIS, cleaning, and automotive businesses also performed strongly, attracting buyers seeking dependable operations with steady income.

Overall, the September 2025 quarter stands out as one of the strongest in recent years outperforming both the June quarter and the same Jul-Sep period in 2024 underscoring a confident, active business sales market heading into summer.

Finishing off 2025

Traditionally, buyer enquiries remain strong through to December before tapering off over the holiday period, as solicitors, accountants, and business brokers take their annual break from just before Christmas until mid-January. During this time, many deals sit in limbo, awaiting final signatures once the professionals return.

Around October, many businesses have completed their financials for the 2025 financial year, providing clearer data for negotiations and finance applications which helps deals progress before the Christmas slowdown.

January consistently delivers the highest enquiry levels of the year, driven by the familiar wave of “new year, new start” motivation. This surge in buyer intent often sets the tone for the months ahead, as aspiring owners re-enter the market with renewed goals and finance approvals in hand.

With the cash rate now at 3.60% and further easing likely in early 2026, Australia’s business sales market is well positioned for a strong start to the new year. Listings have increased, the quality of businesses coming to market has improved, and both buyers and sellers are showing renewed intent.

While lending remains cautious and consumer spending tight, brokers continue to report steady deal flow, stronger engagement, and growing buyer confidence heading into summer. Momentum is building, and with a surge in enquiries expected in January, 2026 is shaping up to be a year of renewed growth and opportunity for Australia’s business sales market.

As one broker put it best, “It’s not about whether businesses are selling, it’s about how they’re selling.”

Disclaimer:

This report is based on data collected from Bsale listings and user-entered information. Figures reflect advertised prices and listing activity only and may exclude final sale amounts or adjustments such as stock (SAV) and GST. While every effort has been made to ensure accuracy, variations and inconsistencies can occur where listings are updated, removed, or sold privately. The insights presented are intended as a general market overview and should not be relied upon for financial, investment, or business decisions.