You asked. We answered. Some straight talk on property.

At CobdenHayson, we've never been ones to pull punches. Our straight-talking advice has helped thousands of clients make better real estate decisions over many years, through very different markets.

Our position has always been simple: we're dealing with an educated market, and better decisions are made when people are given real information, even when that information isn't necessarily what they want to hear.

So, rather than another market report, let's answer some of the questions we're being asked every day

Will the market improve this spring?

In short, no.

Spring will bring longer days, better presentation, more properties and generally more activity, but the arrival of a new season doesn't change market sentiment.

For that to happen, the economic settings driving buyer behaviour need to materially improve. Right now, there is little on the immediate horizon suggesting that's about to happen.

The idea that September arrives and the property market suddenly improves is outdated. Buyers today have enormous amounts of economic and property data at their fingertips and they're responding to interest rates, borrowing capacity, employment, inflation, confidence and what they're seeing transact around them.

Spring doesn't override any of that.

Could prices fall further?

Yes.

They certainly could, and there is evidence that prices are continuing to adjust.

In many parts of the market, the movement from previous highs is already substantial - 15% or more in some segments and properties.

But markets aren't perfectly linear.

We're still seeing A-grade properties, correctly positioned and competitively pursued, achieve exceptional results.

We're also seeing realistic sellers meet the market and transact relatively quickly.

The greatest danger is sitting between the two: sellers receiving consistent feedback but refusing to respond to it.

In a declining market, chasing yesterday's price can become expensive. We've repeatedly seen sellers reject early feedback only to ultimately transact later at a figure below where those original buyers were prepared to engage.

Will there be more property for sale this spring?

Yes.

Listing volumes will rise over the coming weeks. That's normal for spring.

But this year it matters considerably.

Buyer demand is already relatively thin and auction clearance rates have been sitting around the mid-30% range for much of this year.

Put materially more property in front of approximately the same buyer pool and the equation changes again.

Buyers get more choice.

They become more selective.

Properties compete harder against each other.

And sellers need to become increasingly competitive to capture attention.

That's supply and demand, not sentiment.

What if I'm selling and buying in the same market?

This is where the conversation becomes much more interesting.

Most people entering the property market wear two hats. They're a seller, but they're also a buyer.

So, stop looking exclusively at what you thought your home was worth.

Look at the transaction gap.

If the market has fallen materially, you may receive substantially less for your existing property than you would have 12 or 18 months ago.

But what has happened to the property you're buying?

For an upgrader, a 15% adjustment on the more expensive property can substantially outweigh the reduction experienced on the property being sold.

That's why we're meeting more owners who can see the opportunity.

They're prepared to accept today's value for their property because they're buying their next property at today's value as well.

For those with the financial capacity to make the move, that can be a very smart trade.

Is auction still the best way to sell?

No, not automatically.

We love auctions when the ingredients are there to create genuine competition.

But let's deal with the market we're actually in.

Right now, we'd estimate auctions are appropriate for perhaps 40% of the properties we're bringing to market.

For everything else, we should be considering the full toolkit: off-market, private treaty, a guide, price range, fixed price or a campaign that can progressively change strategy as buyer feedback develops.

When clearance rates are around 35%, blindly sending every property to auction makes little sense.

The method should fit the property, the buyers and the conditions - not the agent's standard listing presentation.

What's the biggest mistake sellers are making?

Not listening.

There are a few phrases worth removing from the conversation:

"I want..."

"I'm not giving it away."

"They're just lowballing us."

"I'll wait until the market improves."

None of those statements tells us anything about the property's current market value.

Instead, ask better questions:

Are these genuinely good buyers in today's market?

How long have they been looking?

What else are they considering?

Where is the majority of our feedback landing?

Are different buyers independently reaching similar conclusions on value?

What has actually sold - not just been listed - around us?

Those answers are considerably more useful.

And what about buyers?

Buyers need some perspective too.

Yes, the headlines are negative. Yes, prices have fallen materially. And yes, they may fall further.

But residential property should be considered as a long-term asset, not a trade based on next month's headline.

Property markets have always moved in cycles.

At some point today's headlines about falling Sydney property prices will disappear and eventually be replaced by stories about prices rising again.

Nobody rings a bell when the bottom arrives.

By the time confidence has returned, clearance rates have strengthened, and everybody feels comfortable buying again, some of the negotiating leverage available to buyers today will have disappeared with it.

The market this week

There is no need to catastrophise the current market and there is equally no value in pretending conditions are better than they are.

Spring isn't coming to the rescue.

More stock is coming.

Buyers will have more choice.

Sellers will need to compete.

Some prices may fall further.

But good properties will still achieve good results, realistic sellers will transact, upgraders will find opportunities and buyers prepared to take a longer-term view may look back on this period very differently once the cycle eventually turns.

The most valuable commodity in this market isn't optimism or pessimism.

It's accurate information.

And then having the clarity to act on it.