If you’ve felt like there’s more to choose from lately, you’re not imagining it. National property listings were 12.8% higher in August than a year earlier, according to SQM Research, while Cotality reports that 93% of capital-city suburbs recorded a price decline over winter. Put those two together and buyers are in a genuinely stronger position than they were twelve months ago – though it’s worth being precise about where that advantage actually lies.
More stock, softer prices
SQM’s August data put national listings at 269,717 properties – down slightly from July, but still up 12.8% on last year. Some of that increase is concentrated in specific cities: Melbourne listings were up 22% annually, Brisbane 26.5%, and Adelaide 24.4%. Sydney’s stock was up a more modest 13.3%.
On the price side, Cotality’s numbers show the downturn has broadened considerably. Back in autumn, only 45.8% of capital-city suburbs were recording price falls. By the end of winter, that had jumped to 93%. Every capital city except Darwin posted a decline over the three months to August, with Sydney leading the falls at 1.4% for the month, followed by Melbourne and Brisbane.
More power – not unlimited power
It’s tempting to read those numbers as “the market has flipped to buyers,” full stop. It hasn’t, quite. Distressed listings – properties where the vendor is under genuine financial pressure – did rise 10.0% over the year, but they still only make up about 1.7% of total listings nationally. That’s a real trend worth watching, particularly in states like Western Australia, South Australia and the ACT where distressed stock has grown fastest, but it’s not evidence of a market full of desperate sellers.
There’s also a nuance in where the extra stock is coming from. Fresh new listings were actually down slightly on last year in SQM’s national figures – the growth in total stock is largely older properties that haven’t sold yet and are simply accumulating on the market. That distinction matters for how you approach a negotiation.
What’s happening city by city
The picture isn’t uniform. Sydney values are now 7.1% below their February peak, and estimated sales volumes there, along with Brisbane and Perth, are down more than 20% on a year ago – a sign that buyers in those markets are taking their time rather than rushing to transact. Melbourne posted one of the sharper monthly falls at 1.1%, while Adelaide and Perth eased more gently at 0.8% each, suggesting the downturn hasn’t hit every city with equal force.
New listing activity tells its own story too. Melbourne’s fresh listings were only slightly above last year’s levels, Brisbane’s actually fell during August, and Sydney’s new stock, while up for the month, remained well below where it was a year earlier. Combined with the rise in older, unsold stock, it points to a market where buyers have more to look at, but sellers aren’t necessarily rushing to add to the pile.
How to actually use the leverage
The most useful signals for a buyer right now aren’t the headline numbers – they’re what’s happening with an individual property. A listing that’s been sitting for months, has had one or two price reductions, or sits in a suburb with plenty of comparable stock nearby is where genuine negotiating room exists. A well-presented property in a tightly held pocket can still attract real competition, softer market or not.
Practically, that means:
- Checking how long a specific property has been listed, not just the suburb-wide trend
- Looking for price reductions as a signal of vendor flexibility
- Comparing recent settled sales, not just other current listings, to sense-check an asking price
- Being wary of assuming every vendor is under pressure – most aren’t
Knowing your borrowing power before you start making offers makes all of this easier to act on. There’s a real cost to falling in love with a property, starting negotiations, and only then discovering what you can actually afford.
Key takeaways
- National listings are up 12.8% year-on-year, with Melbourne, Brisbane and Adelaide seeing the strongest growth
- 93% of capital-city suburbs recorded price falls over winter, up sharply from 45.8% in autumn
- Distressed listings are up 10.0% annually but remain a small share of total stock – this isn’t a fire sale
- The real leverage sits with stale, price-reduced listings rather than the market as a whole
Whether you’re looking in Melbourne or interstate, we can help you establish your borrowing power before you start negotiating. Get in touch and let’s sort out your budget and finance options first.
