FOMO Keeps Market Moving

Despite higher-than-expected inflation and fading hopes of further rate cuts this year, the housing market is still being propped up by a solid dose of FOMO.

Around seven in ten properties taken to auction last week sold, according to preliminary national figures, with Sydney and Melbourne both posting clearance rates just shy of 71 per cent.

It was one of the busiest auction weekends of the year.

Critically, listings remain well below normal.

Researchers estimate the number of homes for sale is still about 18 per cent under the long-run average, even though sales volumes are roughly in line with history.

That imbalance is keeping conditions in seller’s-market territory and supporting further price growth.

On the ground, agents report rising competition from both investors and government-backed first home buyers, particularly in affordable inner- and middle-ring suburbs.

Buyer advocates describe the mood as driven more by fear than greed: many worry that if they wait until 2026, they’ll be priced out.

For investors, it’s a reminder to stay disciplined on price and quality when bidding into emotionally charged campaigns.