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Spring Real Estate Market Update

Spring Real Estate Market Update

The traditionally strong Spring real estate market in Melbourne, Sydney and Brisbane has seen an increase in listings. The real estate market has been strong throughout 2023 despite all the doom and gloom in the press.

Sydney has led the charge and after nine consecutive monthly gains, the Sydney residential real estate market is closing in rapidly in the February 2022 peak and now sits just 0.3% below that peak.

Melbourne and Brisbane have not risen as spectacularly as Sydney, but are not far behind. Speculation as to why the sudden increase in listings is that the increase in listings is from vendors under financial stress.

We have not seen any evidence of this, but regardless, the increased supply may see a softening of values.