Australia’s peak property season is underway, and spring 2026 is shaping up as a buyers’ market. Here’s what the experts say we can expect in the weeks ahead.
Spring is traditionally the biggest selling period of the year for real estate.
It’s a season that can see more homes come onto the market, with listings rising, on average, by 15-20% compared to winter, as sellers take advantage of gardens that are in full bloom.
This year, spring is starting out on a different footing from recent times.
Plenty of signs suggest we are shifting to a buyers’ market, and that could be a plus if you’re looking for a first home, or upgrading to your next place.
Let’s take a look at what’s happening in the market, and how the experts see the season panning out.
The good news for buyers this spring is that home prices are cooling in most capital cities.
Cotality’s national Home Value Index fell 0.9% in August.
That’s seeing home values nationally sit 3.6% below the market peak of March 2026.
The thing is, price declines aren’t occurring evenly across the board.
Across most state capitals, higher-value housing is recording larger price declines than lower-priced homes, Cotality says.
This may be a plus for upgraders.
Rather than being put off by selling in a softer market, upgraders may be able to take advantage of lower prices on their next home as they climb the property ladder – so long as they buy and sell within a relatively short time.
For example, a 3% price drop on a $1.5 million home that they’re keen to buy is a lot more than a 3% price drop on an $800,000 home they’re looking to sell.
The supply of homes listed for sale across our major cities is now 24% higher than a year ago, and 8% above the 5-year average.
That’s quite a turnaround from last spring, when the supply of homes advertised for sale was below average.
Interestingly, the number of homes being advertised for sale by auction is down 31%. This may help reduce some of the stress involved in competing for a property at auction.
The upshot is that spring 2026 has the potential to tick plenty of boxes for homebuyers – more homes to choose from, greater scope to negotiate on price, and the potential to pay less for your new home than you may have a few months ago.
No one really knows whether home prices will fall further or when they might start to level out.
What matters is a sense of perspective.
Westpac, for instance, is describing the current cooling property market as an “air pocket”, not a lasting downturn. It expects prices to stabilise as we head towards year’s end, then firm slightly over the course of 2027.
One thing we can say for sure is that more Australians are now turning to their broker for help finding a home loan that matches their needs.
Mortgage brokers facilitated 82% of all new residential home loans during the June 2026 quarter.
That’s the highest market share on record.
It’s a clear sign that Australian homebuyers place a lot of value in having a broker in their corner.
Is spring 2026 the season you will buy your first home, or next home?
Make us your first port of call, and enjoy the homebuying journey with a clear picture of your borrowing power, buying budget, and the reassurance of having a home loan that matches your needs.
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
Paul da Silva
Director & Senior Mortgage Advisor
