The property market continues to build momentum as we move toward Easter, with activity levels lifting across the board. Listing volumes have increased, open homes are busy, auction numbers have expanded, and properties continue to transact across a broad range of price points. It’s the intense period we expected as we move through this part of the year.
As always though, the real insight sits in the detail.
Stock levels are rising
Buyers currently have considerable choice across the market. The lift in available stock has created a more competitive environment for sellers, with multiple options now available for buyers across similar price ranges and property types.
Given the conditions, we suggest the balance of power is leaning slightly toward buyers. When choice expands, buyers are more selective and more deliberate in their decision making. They’re now comparing options carefully and are only moving forward when a property aligns strongly with their expectations.
Auction data reflects this shift
This dynamic is showing through in the auction statistics. Sydney’s auction clearance rate has softened and is now firmly pegged in the mid 40% bracket.
Another important data point is that only around 18 percent of properties initially listed for auction are proceeding to auction day. More campaigns are transacting prior to auction day as sellers react to buyer feedback and consider pre-auction bids. This movement reflects a market that is active, but depth is being tested.
Where sales are occurring
Across our many campaigns, demand is typically peaking during the second and third week of the sale process. Sellers who are responding constructively to their buyer feedback during this window are more often the ones securing successful outcomes.
In the current environment, the most effective path forward for sellers is to be prepared to manoeuvre quickly and align expectations with what the market is revealing in the first fortnight of the campaign.
Macro events are entering the conversation
Over the past week another factor has begun to intensify in the background.
Discussion around the conflict in Iran, fuel prices, inflation and the likelihood of further interest rate increases has become more prominent. At the same time, the share market is volatile, and media headlines love to amplify uncertainty.
Buyers see and read these signals every day. When people are considering purchasing a major asset, the last thing a market needs is fear or uncertainty entering the conversation.
We’re watching buyer sentiment closely and monitoring how these broader factors influence decision making.
Where things sit today
Stock levels remain elevated, buyers have choice, and the market is moving through an intense period in the lead up to Easter.
For sellers, adaptability and responsiveness to buyer feedback are proving important. For buyers, the current level of choice is creating opportunities across many parts of the market, so stay alert.
