Spring property buyers vanish despite prices falling
Sydney averaged 2.2 buyers at opens in mid-September, down from nearly four in 2025.
Sydney open homes attracted an average of 2.2 potential buyers in mid-September, compared to almost four in 2025. Auction bidders averaged 1.8, down from 2.9 a year earlier.
Melbourne saw a similar retreat: just over 2+ visitors to up to open homes (down from 3.5+) and 1.8 bidders at auction (down from 3+). Australia's property market fell $34 billion, or 0.3 per cent, in the June quarter.
Buyers are holding back because they fear overpaying, fewer homes are listed for sale, and there's less urgency to move. Banks predict another interest rate hike before year's end, making many nervous about borrowing and committing to a purchase.
- 2.2 average
- Sydney mid-September open home visitors
- Almost 4 average
- Same period 2025
- $34 billion or 0.3 per cent
- Market value decline June quarter
- 13.2 per cent
- Sydney new listings decline
Why it mattersIf buyers continue retreating while prices fall, the market risks freezing: sellers won't move stock and buyers won't commit until conditions shift.
AustraliaAustralian property buyers and sellers are stuck in a standoff. Lower prices are not luring buyers back if they expect further falls.
✓ Claims checked against the source. checked 9 d ago
