A Quieter Spring Could Put Buyers In Control

The traditional spring selling surge may be more subdued this year as vendors respond to falling prices, cautious buyers and uncertainty over interest rates.

Cotality recorded just over 33,000 new listings in the four weeks to 23 August. That was 8.2% below the five-year average and 2% lower than the same period last year.

Sydney recorded the largest shortfall, with new listings more than 14% below average. Melbourne was down more than 9% and Brisbane was about 5% lower. Adelaide moved in the opposite direction, with new listings around 4% above average, even as demand eased from its late-2025 peak.

Unlike last spring, the market is now several months into a downturn, borrowing capacity has fallen and buyers are more selective.

Owners who do not need to sell may wait rather than accept a lower price. Existing stock may remain available longer where vendor expectations have not adjusted.

For confident buyers, softer competition creates an opening. Fewer buyers, longer selling periods and more realistic vendors provide negotiating leverage, particularly for well-funded purchasers who can act decisively. Patience may create more worthwhile buying opportunities. Careful selection remains essential: low competition alone does not make a property a strong purchase.