Buyers are getting more choice as housing supply increases – but the reasons behind the rise in listings are worth understanding.
 
According to SQM Research, total residential listings across Australia in May were 10.4% higher than April.
 
That included a 5.0% increase in new listings. Older listings also increased 10.5%, suggesting some properties are taking longer to sell.

Why the market is cooling

Several factors are weighing on buyer demand:
  • Higher interest rates.
  • Stretched affordability.
  • Global economic uncertainty.
  • Lower consumer confidence.
As a result, homes are generally taking longer to sell and buyers are becoming more selective.
 

What it means for buyers and sellers

For buyers, a cooling market can create:
  • More choice.
  • Less competition.
  • Greater negotiating power.
For sellers, it can mean:
  • Longer selling campaigns.
  • More competition from other listings.
  • Greater importance of realistic pricing.
Importantly, a cooling market is not the same as a collapsing market.
 
Property prices remain well above pre-pandemic levels and conditions continue to vary significantly between locations.
 
More choice in the market can create new opportunities for buyers, but preparation still matters. Knowing your borrowing capacity can help you act when the right property comes along.