This year’s spring market is presenting an unusual contrast. Buyer attendance at inspections has been high, yet the volume of new listings sits at historically low levels. If this pattern holds, the season is shaping up to be one of the quietest we have seen in recent times.
Much of this reflects vendor caution. Following the recent market adjustment, many owners have chosen to hold onto their properties and wait for greater certainty rather than list now, a decision that has noticeably thinned the pipeline of new campaigns.
Buyer activity tells a different story. Local purchasers remain committed, and as is typical at this time of year, expatriates are returning with the aim of securing a family home before summer. Enquiries from abroad are also gaining momentum. Many buyers are seeking shorter settlements so they can be in place for the holidays, which can suit flexible vendors. When this depth of demand meets limited supply, competition sharpens, particularly for quality homes.
Sentiment across the state is another factor. The upcoming election has many hoping for renewed optimism after a stretch shaped by changes to real estate legislation, interest rate movements, federal budget measures and a growing list of property taxes. A clearer policy direction could encourage more owners to list, though how quickly that translates into new stock remains to be seen.
For sellers, there is a case for acting while competing listings are few. Our team can provide a realistic assessment of how your property is likely to be received and the timing that best suits your plans.
