In August last year, SQM Research reported a notable shift in Australia’s property market: property listings surged 7.9% month-on-month and 11.1% year-on-year, while new listings (those under 30 days old) climbed 11.8% monthly and 8.5% annually.
This spring influx meant one thing: more choice for buyers, and more pressure on sellers.
“Going forward, the spring selling season will provide a significant level of choice for buyers, particularly in Sydney and Melbourne, with listings at their highest levels in some years,” said SQM Research.
And it wasn’t just a metro story. Regional areas, including many WA markets, also saw a seasonal swell in listings, giving buyers across the country stronger bargaining power.
What That Surge Meant for You
The increase in listings came at a time when many buyers had grown used to fierce competition and low stock levels. But as more properties hit the market:
- Buyers had more leverage. With supply up and urgency down, negotiations tilted in the buyer’s favour.
- Sellers faced tougher conditions. Competing with more listings meant vendors couldn’t always command top dollar. Lower offers became more common.
- It became easier to walk away. When buyers don’t feel cornered into snapping up a property quickly, they’re more likely to shop around and less likely to overpay.
In essence, spring 2024 marked a clear shift in market balance, giving informed and finance-ready buyers a strategic edge.
What That Means Today
While conditions are always evolving, the ripple effects of that 2024 listing surge continue to shape buyer and seller behaviour today.
- Market psychology has shifted. Many buyers now know what it feels like to have more choice, and are less inclined to panic-buy.
- Vendors are more cautious. The 2024 spring season reminded sellers that overpricing can backfire when stock is high.
- Certain markets remain buyer-friendly. Even as prices have crept up in parts of the country through 2025, some suburbs still have stock sitting longer than average, and savvy buyers can use this to negotiate better deals.
At Peel Finance Brokers, we always encourage clients to focus less on timing the market and more on being ready when the right opportunity comes along. We’re here to help you navigate every market cycle with confidence. Contact us today to get started!
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- The Evolving Mortgage Landscape in Western Australia
- The Rising Burden of Stamp Duty: A Modern Australian Dilemma
Dip. of Management (Deacon University)
Dip. of Finance/Mortgage Broking Mgt.
Assoc. Cert. of Business (Real Estate)
Assoc. of Mort. Ind. Assoc. of Aust. (AMIAA)
Terry Boag is the founder and CEO of Peel Finance Brokers and has been providing professional and loyal service to the Mandurah and southwest area for 25 years. With a long history of financial experience, Terry is reliable and dedicated to his clients, always ensuring the highest customer service and delivering strong lender relationships.