Time to buy a home? New property listings bode promising start to spring

By Sophie Wong · · 2 min read
Fact Checked
A brown house with lots of flowers around the property to convey getting a home loan in Australia's spring.

Prospective homebuyers might expect a rise in new property listings, as auctions in the major capitals this week bloom ahead of spring.

According to CoreLogic’s auction market report, this year has seen a 17.5% increase in auctions held compared to this time last year.

Demand appears to be stronger too, with the clearance rate of property listings showing a weighted average of 65% across Australia’s capital cities.

With Sydney positioned to have the most auction activity this week, Brisbane might also be expecting a 32% uptick in selling action - the highest figure amongst the other capitals.

So enthusiasm appears to be running high for vendors looking to score a property before the competitive selling season commences.

A window to buy a home in spring?

A window to buying a home in spring by using a home loan.

CoreLogic notes that we might continue to see an upward trend in auction numbers, meaning a strong supply of housing options for Aussies looking to buy.

Current clearance rates (or the rate of homes sold) like those reported by CoreLogic can give both prospective buyers and sellers an idea of how much a property will go for as they look ahead.

So as you conduct your own research, these stats might help you figure out how to time your purchase but also whether your city or suburb is overly competitive.

However, if there are more houses for sale than there are prospective buyers in a given location, clearance rates tend to fall - potentially paving the way for cheaper property prices.

If you’re starting to think about buying a property, investigating your home loan options could be your next step. At present, the average variable interest home loan rate is 6.60% according to Mozo’s database. While rates appear on the higher side for the time being, some lenders are offering variable interest rates as low as 5.54% for a $400,000 home loan.

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Ready to take the next step in your home-buying journey? Why not check out a roundup of the best home loans our experts have tracked. Or you can start comparing some of the top home loan options below!