Beyond the headlines: What the market’s really saying

The second quarter of 2025 showed us what the headlines won’t say out loud: this isn’t a booming market. It’s a split one. Some homes are attracting serious attention. Others are quietly retreating from the spotlight. If you’re only reading the weekend summaries, you’d be forgiven for thinking momentum is back across the board. But the real story, the one that plays out day by day is far more nuanced.

Globally, the economic fog hasn’t lifted. Inflation has come down, fast, with the May CPI landing at 2.1% and the trimmed mean at 2.4%. That’s comfortably inside the RBA’s target range. It’s also the clearest signal we’ve had in months that interest rates fall harder and faster. A July cut is now a live option. That shift matters, because while rates aren’t everything, they frame how people feel about money. And right now, people are still cautious.

That caution shows up in how buyers are behaving. They’re inspecting homes, asking sharp questions, doing the math. Above $4 million, many are still holding back. They’ve got capacity, but they want alignment. They want value. And they’re not afraid to wait for it. That’s led to more campaigns being pushed back, re-priced, or quietly withdrawn. It’s not a market in retreat; it’s a market asking for honesty.

In contrast, sub-$3.5 million homes, especially those with quality, warmth and location are attracting real energy. Buyers here are prepared, decisive, and often competing. At 70 Taylor Street in Annandale, we saw ten registered bidders at auction. At 98 Macauley Street, Leichhardt, a sharp result of $4.2 million was achieved. 25 Boyce Street, Glebe sold under the hammer for $3.775 million. 12 Lawson Street, Balmain proved popular selling under the hammer at $2.675. And 38 Stafford Street, Stanmore moved cleanly at $2.4 million. These weren’t just good outcomes, they were well-earned. Clear campaigns, informed vendors, strong buyer fit.

70 Taylor Street, Annandale

But let’s be honest about what the clearance rates actually looked like. Across the regions we service, June sat between 47% and 52%. That’s a far cry from the 70%+ numbers you see on Saturday afternoons. Those early reports rarely factor in postponements, withdrawals, or the properties that never made it to the floor. That doesn’t mean the market’s failing, it means the data needs context. We’re watching what sells, yes but also what doesn’t, and why.

Nationally, the tone is cautious optimism. Credit remains tight. Discretionary spending is fragile. Confidence is being earned campaign by campaign, not gifted by a rising tide. Globally, oil market tensions and U.S. economic slowdowns are real watchpoints, not just background noise. The RBA knows it. So do the banks. And so do buyers.

So where does that leave us? In a market that rewards preparation. That values truth over hype. That moves when the story and the price make sense. And that’s where we focus. Real conversations. Informed advice. Clear execution. It’s easy to get swept up in the noise. But we’d rather stay close to what’s real. Because in this kind of market, clarity wins.