More homes for sale give buyers added negotiating room

Homebuyers have more properties to compare than they did a year ago, with the total number of homes advertised for sale reaching its highest level since late 2024.

The October realestate.com.au Market Snapshot showed total listings across Australia were 9 per cent higher than a year earlier. The increase was particularly large in Adelaide, Perth and Brisbane, where buyers are encountering substantially more choice after several years of tight supply and strong competition.

Adelaide had 45 per cent more homes available than in October 2025, Perth had 42 per cent more and Brisbane had about 40 per cent more.

That does not mean sellers suddenly rushed to market everywhere. Nationally, the number of new listings added during October was 13 per cent lower than a year earlier.

The difference between new and total listings is important. Total advertised supply can rise when properties take longer to sell, even if fewer owners begin campaigns. In some capitals, the accumulation reflects both new stock entering the market and existing listings remaining available for longer.

Conditions vary sharply between cities

Perth, Adelaide and Darwin recorded annual increases in new listings during October. New supply was up 17 per cent in Perth, 12 per cent in Adelaide and 8 per cent in Darwin.

The pattern was very different in the two largest capitals. Sydney’s new listings were down 28 per cent from a year earlier, while Melbourne’s were down 26 per cent.

This makes the national market more complicated than a simple shift from sellers to buyers. Choice has expanded dramatically in some capitals, while homeowners in Sydney and Melbourne appear more reluctant to list during a period of falling prices.

According to realestate.com.au senior economist Angus Moore, the increase in total listings was particularly large in Brisbane, Adelaide and Perth. He attributed it to longer selling times as well as a stronger flow of new listings than a year ago.

These cities also experienced some of the largest monthly home-price falls in October. More supply combined with weaker demand can reduce the urgency that previously pushed buyers to make rapid offers or waive important checks.

What changes for buyers

A larger pool of properties gives buyers more scope to compare locations, building condition and asking prices. It may also provide time to arrange finance, commission inspections and review contracts without assuming every suitable home will immediately sell.

Negotiating power, however, still depends on the individual property. A renovated home in a tightly held school catchment may attract several bidders even when the broader city has more stock. Homes with unrealistic price expectations, substantial defects or direct competition nearby are more likely to remain unsold.

Buyers should examine how long a property has been advertised, whether its price guide has changed and how recent comparable homes performed. A long campaign can indicate room for negotiation, but it can also signal problems that require closer investigation.

Falling prices are not automatically a reason to buy. Higher interest rates have reduced borrowing capacity and raised repayments, so purchasers still need a buffer for further rate or income changes.

What changes for sellers

For vendors in markets where stock has risen sharply, the first weeks of a campaign matter. Buyers can move on to similar properties if presentation, pricing or access makes an inspection difficult.

Sellers should ask agents for recent comparable results rather than relying on values achieved near the market peak. They should also distinguish between the number of listings and the number of genuine competitors in the same price bracket and neighbourhood.

Sydney and Melbourne owners face a different calculation. Fewer new listings may limit direct competition, but subdued buyer demand and declining values can still make ambitious pricing difficult to achieve.

The overall message is that spring has not produced one national selling market. Bargaining power has moved towards buyers most clearly in capitals where advertised stock has accumulated, while property quality and local scarcity continue to shape individual results.

What it means for you

• Buyers in Adelaide, Perth and Brisbane generally have far more listings to compare than a year ago.
• Check days on market and competing stock before deciding how aggressively to offer.
• Sellers should price against recent settled sales, not earlier peak-market expectations.
• Lower prices may improve choice, but finance costs still determine whether a purchase is affordable.