Market Momentum Holds Firm

Australia’s property market is showing a more balanced picture, with conditions varying across the country as buyers and sellers adjust to higher interest rates and post-budget uncertainty.

While national price growth paused in May, several markets remain resilient after strong recent gains. Perth, Brisbane and Adelaide continue to sit well above year-ago levels, with Perth values still more than 20% higher annually, Brisbane up 16.4% and Adelaide up 13.4%.

The report shows buyers have more choice in Sydney and Melbourne, where total listings are above typical levels, while stock remains tight in Brisbane, Perth and Adelaide.

Despite softer auction clearance rates, homes are still selling quickly, with the typical property in Sydney and Melbourne selling in around 30 days. In tighter markets, some suburbs are recording sales within two weeks, highlighting ongoing buyer demand nationally.