We hit Easter this weekend and, as expected, the jump in listings and desire to be sold before the holiday break tilted the market in favour of buyers: they have choice, time and a very muddy economic backdrop that’s creating genuine hesitation to commit. There are still plenty of sales occurring, as life goes on, but no agent in Sydney would describe the market as anything other than fragile right now. Buyer interest can drift away for the smallest reason; confidence is brittle.
Over the weekend we had hundreds of conversations that told the same story: most buyers believe prices are easing and will continue to do so, and many have taken the easy option of sitting back and waiting. Waiting for what, exactly, is the perennial question as trying to time a purchase with the bottom of the market is a high‑risk strategy. History shows many ultra‑cautious buyers end up paying more months later, simply because they feel safer buying when everyone else is buying.
This is a market that favours the brave: long‑term, evidence‑led buyers who recognise value now, and sellers who price and present to meet current expectations. Sydney’s auction clearance rate is running at 40% which is a clear sign that pricing momentum is easing. That said, it’s not all doom and gloom. Quality stock that genuinely aligns value with lifestyle continues to attract decisive buyers.
We expect this backdrop to persist for some time. Keep an eye on inventory into winter though as a real tightening of listings could provide the stabilising dose the market needs to underpin values, even against an uncertain economic backdrop. Act with evidence and not emotion is the key takeaway in today’s market.
