Understanding the current market
Property markets don’t move in straight lines. They respond to interest rates, affordability, buyer confidence, and the amount of stock available at any given time. Right now, conditions require both buyers and sellers to be realistic, informed, and well prepared.
This is not a market driven by panic or frenzy. It’s one shaped by careful decision-making.
Supply and demand in practical terms
Stock levels have increased compared to previous years, giving buyers more choice. This doesn’t mean properties are not selling. It means buyers are taking more time, comparing options, and negotiating more carefully.
Well-priced properties still attract interest. Overpriced ones sit.
What buyers are doing differently
Buyers are more financially aware than they were during peak cycles. Many are:
- Getting pre-approval before viewing
- Comparing total purchase costs, not just price
- Negotiating based on comparable sales rather than asking prices
This results in fewer rushed offers, but stronger, more committed transactions once decisions are made.
What sellers need to understand
Sellers who succeed in this market share three traits:
- Realistic pricing from day one
- Proper preparation before listing
- Flexibility during negotiation
Pricing too high in the hope of “testing the market” usually leads to extended time on market and reduced final sale prices.
Is it a buyer’s or seller’s market?
Most areas are neither. This is a balanced market where outcomes depend on preparation, pricing, and professional guidance rather than timing alone.
Frequently asked questions
Are properties still selling?
Yes. Correctly priced properties continue to sell, especially those that meet buyer expectations and are properly marketed.
Should I wait before buying or selling?
Waiting only makes sense if your personal or financial position isn’t ready. Market conditions alone are rarely a good reason to delay.
Do interest rates matter more than price right now?
Affordability matters more than headline pricing. Buyers focus on monthly costs, not just purchase price.
Summary
This market rewards informed decisions. Buyers benefit from choice and negotiation power. Sellers benefit from realism and preparation. Understanding how the market actually works is the key to a successful outcome.
