Core Insights - The core viewpoint of the article highlights the trends in the auctioned real estate market, indicating a significant increase in supply while transaction volumes remain high but show signs of decline in competitive bidding activity [1][6]. Supply Volume - The supply of auctioned properties increased to 42,000 units in September 2025, representing a month-on-month rise of 31% [2][9]. - The total starting price for these properties reached 40.6 billion yuan, up 25% from the previous month [9]. Transaction Volume - A total of 5,033 auctioned properties were sold in September, marking a month-on-month decrease of 8% but still maintaining a high level compared to earlier in the year [3][15]. - The average number of bids per auctioned property fell to 14, with only 5.5% of properties receiving over 100 bids, indicating a decline in competitive bidding [6][15]. Transaction Rate - The national average transaction rate for auctioned properties was 19.3%, down 1.9 percentage points from the previous month, falling below the annual average [4][21]. - Cities like Hangzhou led with a transaction rate of 48%, while other major cities also showed rates above 30% [23]. Discount Rate - The average discount rate for sold auctioned properties was 32.3%, with a slight increase of 0.1 percentage points month-on-month [25]. - The average starting discount rate for auctioned properties was 28.1%, down 0.7 percentage points from the previous month, indicating a narrowing gap between starting and transaction prices [25][26]. Market Outlook - The market is experiencing a cooling trend in competitive bidding, with a notable decrease in the number of high-value properties successfully auctioned, such as the East Dalian project which failed to sell despite a significant price reduction [7][12]. - The introduction of policies aimed at revitalizing idle land and optimizing urban space is expected to influence the auction market positively in the future [8].