Prices Rising as Listings Surge: What Property Buyers Need to Know
If you’re planning to buy a property soon, the market has shifted once again. On one hand, more homes are hitting the market. On the other, prices are still climbing. For buyers, it’s a mix of opportunity and urgency – more choice, but also more competition.
Let’s break down what’s happening and what it means if you’re looking to purchase in the coming months.
What’s Happening in the Property Market?
Recent data shows that momentum has picked up again:
- Australia’s median property price rose 1.1% in October – the fastest monthly increase since mid-2023.
- Prices were also up 2.8% over the quarter, with capital city values rising and five capitals hitting new record highs, according to Cotality.
- At the same time, buyers are seeing more options. SQM Research reported that total listings jumped 10.9% in October, with new listings surging 18.2% month-on-month.
In simple terms, there are more properties for sale, but demand is strong enough that prices are still moving higher.
What This Means for Buyers
More listings can be good news. It generally means:
- Less pressure to “rush” into a purchase
- A broader range of homes and locations to choose from
- More opportunity to find a property that actually fits your needs
However, the fact that prices are still rising suggests that buyers are out in force. Open homes are busy, good-quality properties are attracting strong interest, and well-priced homes are not sitting on the market for long.
So while you may have more choice, you’re still operating in a competitive environment.
Smart Buying Moves in a Competitive Market
If you’re thinking about buying while prices are on the way up, strategy matters. Here are some practical ways to approach the market:
1. Review Suburb-Level Trends
Not all areas move at the same pace.
- Some suburbs can see faster growth due to demand, infrastructure projects, or lifestyle appeal.
- Others may offer better value or be a little slower to climb, giving you a better entry point.
Spend time looking at suburb-level data – recent sales, days on market, and price trends – rather than just national or city-wide headlines. This can help you identify pockets of opportunity that still suit your budget.
2. Factor In Borrowing Buffers
In a rising market, price brackets can shift quickly.
If you’re targeting, for example, properties around a certain price point, a few months of growth can push those homes out of reach – especially if you’re already at the top of your borrowing capacity.
To stay ahead:
- Get a clear understanding of your borrowing limit.
- Build in a buffer so you’re not forced to walk away if competition nudges the price slightly higher.
- Keep your pre-approval up to date, as your circumstances or lender policies may change.
3. Look Past Cosmetic Issues
In a rising market, the “perfect” home often comes with a premium price tag.
Sometimes, the best value is in properties that are:
- Structurally sound
- Well located (good schools, transport, amenities)
- In need of cosmetic updates – paint, flooring, kitchens/bathrooms over time
If you can see past dated décor or minor imperfections, a well-located ‘fixer-upper’ can be a smart way to get into the market, ride future capital growth, and improve the property gradually as your budget allows.
Why Preparation Matters More Than Ever
In markets where prices are growing and listings are increasing, the buyers who do best are usually the ones who are well prepared.
That means:
- Knowing exactly what you can afford
- Being clear on your must-haves vs nice-to-haves
- Having your finance organised so you can move quickly when the right property appears
Need Help Before Prices Climb Further?
If you’re keen to buy before prices move too much higher, getting your finance sorted early can give you a real advantage.
I can help you:
- Compare loan options from different lenders
- Understand your borrowing capacity and repayments
- Prepare a realistic budget so you feel confident making an offer
If you’re thinking about buying in the next 3–6 months, now is a good time to start the conversation.
📩 Get in touch if you’d like to chat through your options and put a plan in place.
