The Australian property market is heating up for spring, with a significant increase in the number of properties listed for sale. According to SQM Research, a total of 249,523 properties were listed in August, marking a 7.9% rise from the previous month and an 11.1% increase compared to the same time last year.
This surge in new listings will have important implications for both buyers and sellers in the coming months.
For buyers, the increased supply means more choices and less competition. With a wider range of properties on the market, buyers will have more time to conduct their due diligence, weigh their options, and negotiate on price. The power dynamic, which often favours sellers in a tight market, is starting to shift towards buyers as they gain more negotiating leverage.
On the flip side, sellers will need to adjust their strategies. With more properties on the market, attracting potential buyers will require more effort. Vendors may need to invest in stronger marketing campaigns, stage more attractive open homes, and be more flexible on pricing to capture buyers’ attention. The increase in listings is likely to push sellers to negotiate more, potentially cooling the rapid price growth seen earlier in the year.
The spring selling season is set to be a dynamic one, with the current trend of rising listings reshaping the property market for both parties.
