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Key takeaways<\/p>\n
Auction clearance rates across the combined capitals rose to 69%, the highest since June 2023, signalling renewed buyer confidence and stronger momentum through the spring selling season.<\/p>\n
New property supply has increased across several cities, particularly Melbourne and Sydney, reaching six-month highs. However, total listings remain low overall, keeping competition strong among buyers.<\/p>\n
The expansion of the 5% Deposit Scheme is bringing more first-home buyers into the market, increasing demand pressure and intensifying competition for affordable properties.<\/p>\n
Adelaide led with the highest auction clearance rate in over two years, while Brisbane and Darwin remain highly competitive markets with record-low supply and rental vacancies below 1%.<\/p>\n
Markets like Adelaide, Brisbane, and Darwin are moving fast with short selling times, while Canberra and Perth are experiencing longer days on market as supply rises and conditions rebalance.<\/p>\n
There\u2019s something about spring that breathes new life into the property market.<\/p>\n
As the weather warms and gardens come alive, so too does buyer and seller activity.<\/p>\n
And this year, the start of spring has truly delivered.<\/p>\n
According to Domain\u2019s Market Insights report for September, auction clearance rates have climbed to their highest levels since June 2023, while new property listings have surged across several capital cities.<\/p>\n
In short, there\u2019s more activity, more choice, and plenty of competition.<\/p>\n
But behind the headlines, there\u2019s a more nuanced story, one of shifting dynamics between supply, demand, and government policy that could shape the months ahead.<\/p>\n
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The Spring surge: auctions are back in full swing<\/p>\n
Dr. Joel Bowman, Domain\u2019s Senior Economist, summed it up neatly:<\/p>\n
\u201cAuction clearance rates have reached their highest levels since June 2023, reflecting renewed market momentum as we move through the spring selling season.\u201d<\/p>\n
Across the combined capitals, auction clearance rates rose to 69%, the strongest performance in over a year.<\/p>\n
This suggests buyers are not just browsing, they\u2019re bidding with confidence.<\/p>\n
Melbourne and Sydney continue to anchor the auction scene, while Adelaide stole the spotlight with the sharpest monthly rise and its highest clearance rate in more than two years.<\/p>\n
The increase in listings,\u00a0 hitting six-month highs in many cities, is giving buyers more options, but that doesn\u2019t mean it\u2019s getting easier to secure a home.<\/p>\n
Demand remains intense, especially following the expansion of the Federal Government\u2019s 5% Deposit Scheme, which is now helping more first-home buyers compete for a limited pool of quality properties.<\/p>\n
Capital city snapshots<\/p>\n
Let\u2019s take a closer look at how Domain see the housing markets unfolding across the capitals.<\/p>\n
Sydney<\/p>\n
Sydney\u2019s new supply hit a six-month high in September, good news for buyers wanting more choice.<\/p>\n
But the overall picture remains one of scarcity.<\/p>\n
Rental vacancies sit at just 0.9%, the lowest September level since 2023, and distressed listings are at their lowest since early 2022.<\/p>\n
The city\u2019s fundamentals remain strong, underpinned by population growth and limited new housing construction.<\/p>\n
Melbourne<\/p>\n
Melbourne\u2019s market came roaring back, recording its highest supply in 11 months, the strongest jump of any capital city.<\/p>\n
Auction clearance rates also hit their best level since mid-2023, showing solid buyer demand. <\/p>\n
Interestingly, discounting on units fell to its lowest point since 2020, meaning sellers are holding firmer on price.<\/p>\n
It\u2019s another sign that Melbourne is well into its recovery phase after a more subdued period last year.<\/p>\n
Brisbane<\/p>\n
Brisbane saw a lift in new listings to a three-month high, yet total supply remains the lowest on record.<\/p>\n
Buyers are competing fiercely, not just at auctions but also in the rental market, where the vacancy rate is just 0.7%.<\/p>\n
Despite the tight supply, sellers are motivated, with auction volumes reaching their highest since 2023,\u00a0 a sign of market confidence.<\/p>\n
Adelaide<\/p>\n
Adelaide continues to defy expectations. <\/p>\n
Its auction clearance rate hit the highest level in over two years, while houses are selling faster, with days on market falling to an eight-month low.<\/p>\n
Although new listings have risen, they\u2019re still lower than last year, keeping upward pressure on prices.<\/p>\n
Add a 0.5% vacancy rate, and you\u2019ve got one of the most competitive and resilient markets in the country.<\/p>\n
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Canberra<\/p>\n
Canberra\u2019s market is moving in the opposite direction, with supply surging to record highs in September.<\/p>\n
Buyers now have more negotiating power,\u00a0 reflected in unit discounting reaching its highest since 2016 for this time of year.<\/p>\n
The increased listings are taking some steam out of the market, with properties taking longer to sell and the vacancy rate rising to 1.3%.<\/p>\n
Perth<\/p>\n
Perth\u2019s new listings rose to a four-month high, but overall stock remains tight.<\/p>\n
Properties are staying on the market longer, the longest since October 2023, suggesting momentum might be easing slightly.<\/p>\n
However, with a 0.5% vacancy rate, Perth\u2019s rental market remains under immense pressure, and demand for well-located homes continues to outstrip supply.<\/p>\n
Hobart<\/p>\n
Hobart\u2019s supply improved marginally, reaching a six-month high, but its rental market is in crisis territory.<\/p>\n
With a 0.2% vacancy rate, it\u2019s the tightest in the nation.<\/p>\n
Interestingly, discounting on houses is at its lowest since 2020, showing sellers are confident, and rightly so, given the lack of available stock.<\/p>\n
Darwin<\/p>\n
Darwin recorded its strongest increase in new listings since June 2024, finally turning annual supply growth positive for the first time in almost a year.<\/p>\n
Distressed listings have fallen to record lows, while the rental market remains tight at 0.4% vacancy.<\/p>\n
The tale of two markets<\/p>\n
One of the most telling metrics from Domain\u2019s report is days on market.<\/p>\n
It paints a picture of a two-speed property landscape.<\/p>\n
Cities like Adelaide, Brisbane, and Darwin are moving quickly, homes are being snapped up almost as soon as they\u2019re listed.<\/p>\n
Meanwhile, Canberra and Perth are seeing longer selling times, with Canberra recording its longest since 2020.<\/p>\n
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This divergence reflects a broader truth: not all markets are equal.<\/p>\n
Some are still booming, others are finding their balance.<\/p>\n
And while interest rates and affordability constraints are shaping buyer behaviour, underlying demand, particularly from migration and limited construction, continues to drive competition in most cities.<\/p>\n
The bottom line<\/p>\n
Spring has brought with it a sense of renewed energy and optimism in Australia\u2019s housing market.<\/p>\n
More listings mean more opportunities, but also more competition,\u00a0 especially with policy measures like the 5% Deposit Scheme adding extra demand at the lower end of the market.<\/p>\n
Buyers may be seeing more \u201cFor Sale\u201d signs, but they\u2019re still up against strong fundamentals: undersupply, population growth, and tight rental conditions.<\/p>\n
So, while the market appears to be moving in a positive direction, the key for investors and homebuyers alike is to remain strategic; focus on quality assets, in high-demand locations, and think long term.<\/p>\n
As we head deeper into spring, one thing\u2019s clear: Australia\u2019s property market isn\u2019t cooling, it\u2019s warming up right alongside the weather.<\/p>\n
Are you wondering how you should invest in this interesting phase of the property cycle? ![\"Metropole](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/10\/1760774592_199_01.jpg\")
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