More homes for sale, but prices rising
A surge in new listings would normally cool the market – but this time, buyers are snapping up good homes faster than they’re appearing.
Australia’s median property price rose 1.1% in October – the strongest monthly gain since mid-2023 – and is now up 2.8% over the quarter. Every capital city recorded growth, with five hitting new highs, according to Cotality.
At the same time, SQM Research reports a sharp lift in stock: total listings rose 10.9% in October and new listings jumped 18.2%. Normally, that much fresh supply slows price momentum. This time it hasn’t.
What’s really happening
Buyer demand is running ahead of supply, even with more homes coming to market. Rate cuts earlier this year have boosted confidence and borrowing power, so well- located homes are still seeing quickly.
What smart buyers are doing right now
Instead of waiting for conditions to cool, buyers are:
- Getting pre-approval earlier so they can move fast when the right home appears.
- Expanding their search radius into neighbouring suburbs.
- Stress-testing their budget at higher rates to avoid overstretching.
If you want to stay competitive while prices are climbing, I can help you understand your borrowing power and compare lenders before you start making offers.
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