We’ve closed out July, and the evidence is increasingly clear: Sydney’s property market is experiencing a swift reversal in prices.
The headlines are there. Auction clearance rates support it. Buyer behaviour reflects it. And we’re seeing it firsthand through conversations taking place at open homes, around negotiation tables and in sellers’ living rooms every day.
But importantly, the market is still moving.
Properties are selling, buyers are buying, and deals are being put together. What has changed is the pricing window and the behaviour required from both buyers and sellers to transact successfully within it.
For sellers, commitment matters
Selling in a falling market isn’t for the faint-hearted.
Campaigns can take longer; buyer feedback can be confronting, and the strongest interest may not arrive on day one. But sellers who commit to the process, remain engaged, and respond intelligently to the evidence are continuing to achieve sales.
One of the biggest mistakes in this environment is waiting too long to make the tough calls. If reliable buyer feedback is consistently landing in a particular range, the market is telling you something. Our advice is to listen early, react decisively and keep the campaign moving in sync with where genuine buyer demand is sitting.
That doesn’t mean accepting the first offer that arrives. It means understanding the difference between an opportunistic offer and genuine market evidence.
For buyers, there is opportunity - but there are limits
We’re also seeing some buyers overshoot the downturn.
We understand why. The headlines scream opportunity, confidence is fragile and placing an offer that protects against tomorrow’s risk can feel like the safest approach.
But in some cases, we’re receiving offers around 20% below where values may have been sitting last year. That is not necessarily buying into the new market, it can simply be overly aggressive.
The buyers successfully securing property right now are generally taking a more measured approach. They recognise prices have adjusted, negotiate accordingly and work within the new pricing window. There is still negotiation between buyers and sellers, sometimes considerable negotiation, but when it is conducted reasonably and in good faith, transactions are happening.
The market is searching for its new level
What we are now seeing is broader acceptance that conditions have changed.
That adjustment takes time.
Sellers naturally look backwards at what comparable properties achieved six or twelve months ago. Buyers look forward and try to factor in where prices might be six or twelve months from now.
The transaction happens somewhere between those two positions.
As we move towards spring, we expect to remain within this market cycle. More stock will come to market, buyers will continue to scrutinise value closely and sellers will need to make increasingly evidence-based decisions.
If both sides remain sensible in their expectations and reactions, we should begin to see greater alignment between buyers and sellers, even if broader market conditions remain challenging.
How we’ve adjusted
We haven’t waited for the market to change back.
Across CobdenHayson, we’ve been making tactical adjustments to the way we launch, position, and manage campaigns to reflect the conditions in front of us.
Campaign timelines are being considered more carefully. Pricing conversations are happening earlier. Buyer feedback is being interrogated more deeply. We’re placing greater emphasis on direct buyer engagement, private negotiation and making tactical adjustments quickly when the evidence supports them.
In this market, information matters, but interpretation matters even more.
The headlines can tell you Sydney property prices are falling. They can’t tell you what buyers are saying about your property, where genuine financial capacity sits, which offers are opportunistic and which represent the market, or when a tactical adjustment could materially change an outcome.
That’s where experienced, real-time advice becomes particularly valuable.
If you’re considering a move and want to understand what is happening within your market, let’s have a conversation today.
