Ninja In A Blazer - September 2026

THE MARKET IS STABILISING

It has now been almost three and a half months since the significant budget changes flowed into the property market, and the encouraging news is that we are starting to see some positive signs.

Sellers are accepting the new market, buyers are becoming more confident, and the gap between buyer and seller expectations is narrowing.

Most importantly, transactions are increasing. As a real-world example, our agency transacted 50% more property in August than we did in July. We are also starting to see multiple offers on a number of properties we are selling.

The difference from the market we experienced previously is that buyers are making fair offers, but they are generally not increasing their offers significantly unless they can see genuine competition.

As we enter spring, we are seeing more properties come onto the market, which is normal for this time of year. The balance between increasing supply and returning buyer confidence will be something we watch closely over the next few months.

HOW MUCH HAS THE MARKET CORRECTED?

This is probably the question we get asked most.

Official statistics often report monthly movements of 1% or 2%, but these figures don't always tell homeowners what is actually happening to the value of their individual property.

We prefer to look at the market from the ground level - tracking properties our office has sold and comparing them, where possible, with similar properties that sold previously.

Based on what we are seeing, we estimate that prices have adjusted by approximately 10% from the recent peak.

For example, a property that may have sold for $1.2 million at the peak could now be transacting around $1.08 million.

However, there is an important point to this correction. Much of the increase we saw following the Government's 5% first-home buyer grant occurred over approximately three months, with prices increasing by around 1-150%.

What we are now seeing is the market, in many cases, giving back that increase.For most long-term homeowners, this should not be a major concern. Many have owned their property for considerably longer than the recent period of growth. The greatest exposure is for those who purchased around the peak and need to sell in the short term.

Our advice remains simple: if you are holding property for the long term, don't make a long-term decision based purely on a short-term market correction.

WHAT ARE BUYERS BUYING?

Not all properties are performing equally in today's market. The strongest demand is generally for:

• Houses on 450m²+ blocks
  • Well-presented homes requiring little or no work
  • Properties styled and presented to a high standard
  • Homes without significant maintenance issues
  • Properties without major location disadvantages such as main roads or flood risk

Buyers have become much more selective and are prepared to compete when they find the right property.

A great example is 11 Ray Street, Carseldine, which attracted 20 groups on its first Saturday and another 8 groups at the first midweek inspection which are very strong numbers in the current market.

THE BIGGEST CHALLENGE: TENANTED PROPERTIES

Interestingly, one of the biggest challenges we are seeing isn't a particular property type - it is properties that are currently tenanted, particularly those with long leases remaining.

Historically, investors could make up around 50% of the enquiry at an open home. Today, we are often seeing less than 5% of enquiries coming from investors.

With significantly fewer investors active in the market, a property with six to twelve months remaining on a lease can dramatically reduce the pool of potential buyers, particularly owner-occupiers who want to move in.

Our advice to clients who don't need to sell immediately is to consider waiting until the lease is approaching its end.

In some circumstances, it may also be worth discussing with the tenant whether they would like the flexibility to leave earlier, where appropriate and permitted under the tenancy agreement.

A vacant property can then be properly presented, staged and marketed to the largest possible buyer pool - which can make a significant difference to both interest and the final price.

WHAT ABOUT UNITS & TOWNHOUSES?

Units and townhouses are currently softer than houses. This isn't unusual - we saw a similar pattern during the COVID boom when houses moved up in price first and other property types took longer to catch up.  This is the reverse, where houses are moving down in price, and townhouses and units are following suit.

Many buyers still cannot afford a house with land, but are initially trying to stretch their budget to buy one. As they realise their budget won't secure the house they want, we expect more buyers to turn towards units and townhouses.

They are still selling - but there is currently less competition between buyers.

As a result, some properties may take two to three months or more unless they are positioned correctly on price and presentation.

Approximately six weeks ago, we sold a townhouse in Chermside with six offers, despite the market still being relatively subdued. The result was achieved through careful positioning and strategy.

This is a good reminder that even in a softer market, the right strategy matters.

WHAT HAPPENS NEXT?

We are encouraged by the signs of stabilisation, but we don't believe we are completely out of the woods yet.

There is still uncertainty around the economy and the possibility of further Government announcements that could influence buyer and seller confidence.

What we can do is continue to provide you with an honest view of what we are seeing at ground level - through our open homes, buyer enquiries, negotiations, offers and actual sales.

The market has changed, but importantly, confidence is beginning to return.

If you're thinking about selling, buying, holding or simply want to understand where your property sits in today's market, our team is always available to provide personalised advice.

As always, don't just believe everything you read in the media. Talk to people who are actually in the market every day.