Market Confidence Rises with Listings
Buyer confidence in Australia is on the rise, despite high property prices and interest rates forcing many to make significant compromises. The latest Mortgage Choice Home Loan Report reveals that 83% of prospective buyers feel positive about purchasing a property, up from 70% last quarter.
The increase in confidence comes as more homes hit the market, giving buyers greater choice. However, challenging conditions—such as record-high prices and interest rates—are leading many to adjust their expectations. Three out of five buyers are looking to regional areas or further from city centres, with many opting for smaller homes, apartments, or duplexes.
The search process is taking longer, with 62% of buyers facing delays and a third needing multiple pre-approvals. Despite economic uncertainty, buyers are focusing on when the timing is right for them, rather than trying to predict interest rate movements. Recent data from PropTrack also shows a surge in new property listings, helping slow the pace of price growth while providing buyers with more options across the country.
