Australia's Hottest M&A Sector Continues

- The Latest Market Data For Accounting Practice Sales 

Published May 2026

DMY's latest six-monthly release of Market Data and Insights for accounting practice sales is below. Our data set includes 30 practice sales^# over the last 14 months as well as key trends from the past five years.

There are no shortage of competing opinions when it comes to the price an accounting or bookkeeping firm can sell for, how much demand there is, and what is the "market rate" for retention.  As one of our favourite quote goes... "without data,  you are just a person with an opinion."  At DMY we prefer to let the data speak for itself.

If you are serious about buying or selling an accounting or bookkeeping practice, knowledge is power and key to helping you compete and win. Enjoy our latest Market Data and Insights and let us know what you think. 

^# The majority of these practice sales are pure accounting practices. They also include accounting practices with audit and/or bookkeeping, as well as finance function and bookkeeping practices.

Key Takeouts

1. Practices are selling for an average of 126 cents in the dollar (metro, fees > $1m), 113 cents (metro, fees < $1m) and 108 cents (regional)

• For metro practices, the average selling price of 121 cents in the dollar is three cents higher than November 2025 (118 cents). 
• The gap between the average sale multiple of practices with fees > $1 million (126 cents) versus practices with fees < $1 million (113 cents) is widening at 13 cents in the dollar (up from 9 cents in November 2025). Larger buyers typically have the scale and are better placed to capture revenue / cost synergies to still generate healthy returns at these higher multiples.
• Regional practices continue to show healthy results and are proving attractive to both regional and metro buyers.
• Sale multiples range from 95 to 135 cents. highlighting that each practice needs to be considered on its own merits. Sellers should have their practice independently assessed using a robust methodology to ensure they get the price they deserve.
• Client mix, profitability, location (and/or ability to relocate), and operational efficiency continue to drive value up or down as well as the specific context of individual buyers.  Interest from larger firms seeking to expand interstate through an initial "platform" practice is a common occurrence in practice sales with $4m+ in fees.
• For larger or very profitable practices it can be more appropriate to sell based on a multiple of maintainable earnings. DMY expect to see more of this in 2026 with multiples typically ranging between 4-6x for practices of c.$5m, with higher multiples in play for much larger practices.

                                         Note: Practice Sales are ranked in ascending order in each graph i.e. Listing #1 above is not necessarily the same as Listing  #1 in other depictions.

2. 77% of Practices are selling in less than 90 days

• This is up from 73% in November 2025.
• Time measured is from listing date through to execution of a Heads of Agreement with the preferred buyer.
• 90 days remains realistic to achieve the sale of a good quality metro practice with fees < $2 million, assuming a well-managed sale process and the guidance of expert support to navigate any deal complexities that may arise.
• Five of seven Regional practices achieved sales in less than 120 days. 
• Not every sale happens quickly and sometimes patience is required.  This can be the case in more remote regional locations. 

3. Metro practices attract an average of 94^ interested parties per listing with a diversity of high quality buyers for sellers to consider

• This is higher than six months ago (84 buyers) and remains materially higher than pre-COVID (40-50 buyers). 
• We see no sign of this demand lessening in the short term. For sellers, the quality and diversity of buyers means they can be confident of securing the right buyer at the right price.
• For buyers, there remains competition to even meet the Vendor. One recent seller of a $1,250,000 fees practice had 20 interested parties who wanted to meet them of which they met nine (45%), while the owners of a $2.9 million+ practice had 15 interested parties who wanted to meet them, of which they also met nine (60%).
• As noted earlier, we are also seeing more larger buyers looking to expand interstate which increases the options for sellers, particularly those who are metro-based and large enough to be a "platform" first acquisition for an interstate buyer ($4m+ in fees).
• Regional practices continue to attract healthy levels of interest with an average of 47 buyers per listing ( up from 41 in November 2025), which creates a healthy pool from which to find the right buyer.
• Given the importance of cultural fit, there is no dominance in the market by any individual buyer. Of DMY's last c.70 practice sales, there have been over 60 different successful buyers reflecting the strength of DMY's network.

^ 94 interested parties does not mean 94 people accessing confidential information or even knowing the identity of the seller.  Nor does it mean the seller having to waste time meeting lots of people who are not suitable. DMY runs a very structured sale process with all buyers who want to meet the seller being carefully vetted.  A seller typically meets anywhere between four to ten interested parties in a DMY-run sale process.

                                 Note: Practice Sales are ranked in ascending order in each graph i.e. Listing #1 above is not necessarily the same as Listing  #1 in other depictions.

4.  83% of sales have a retention between 10-20% and over 12 months

• The average retention is 16% which is one percentage point lower than November 2025.
• While the range is 0% to 30%, 27 of the practice sales (90%) have retentions in a narrow range of 10 - 20%. 
• Three of the practices sold had no retention. Two of these were as a direct result of strong competition with the successful buyers offering no retention to differentiate from the pack.
• Sellers and buyers should focus on the specific risk profile of the fees being sold/acquired, the transition role of the Vendor in supporting client retention, and other specific factors that may impact client retention either positive or negative.
  • Pragmatic sellers with higher risk client portfolios do need to be flexible while sellers with less risky books, or mitigating factors, can rightly secure a lower retention.
  • Conversely, smart buyers, once they identify a strong cultural fit with a seller and a reduced transition risk, use retention as an effective negotiating tool to differentiate from the competition.
• One year continues to be the default period for retention with only two practices having a retention of two years. This has been consistent for the past five years and buyers who insist on a high, multi-year retention without supporting data and logic will miss out.

Trend Information 2021 - 2026  

Finding 1: The average sale price multiple (metro) has steadily risen from 110 cents in the dollar to 121. 

Finding 2: Average buyer numbers per metro listing have remained consistently high around 75 - 94. 

Finding 3: Retention has remained in a narrow range of 14-17% 

The Wrap 

For sellers… key indicators around buyer demand, selling prices and time to sell remain positive. DMY see no evidence of this changing over the short term, including because of any impact from AI. This doesn't mean a smooth sale process and strong commercial outcome are a foregone conclusion. The broad range of selling prices and retention levels demonstrate that sellers should not rely on "averages" to determine the commercial terms for their practice sale. Each practice must be assessed on its own merits. Further, the sale process can be an emotional rollercoaster and still needs to be carefully navigated to secure the right buyer who will be the right fit for the seller, their clients and their team. Buyers have choices too and no buyer will want to work with a seller who is not the right cultural fit, is difficult to work with or has unreasonable expectations. 

For buyers…competition remains intense. Market knowledge, empathy and patience are key.  With competition even to meet the seller on many deals, there is no room for buyer complacency. Understanding market selling prices and retentions is fundamental. Being competitive commercially, though, is not enough to achieve success. The seller is not just looking for a dollar outcome. They are looking to secure the right buyer with the right cultural fit to preserve their legacy and peace of mind. If you are a strong cultural fit, then be attuned to the seller’s needs and flexible in your approach if you want to secure that prized acquisition in the face of strong competition. If you miss out because someone else is a better fit, that is where patience comes in. We continue to see examples of buyers who narrowly miss out an opportunity but then were able to secure a subsequent practice that was a great fit for them. 

To discuss these findings in more detail and what they mean specifically for your situation, contact DMY’s Directors below.