21 Oct
New REIP data reveals competing pressures across Australia’s property market, with more homes coming up for sale, softer buyer activity and fewer properties entering the rental market.
Nationally, new sales listings rose 12.1% in September, while new rental listings fell 16.7%, according to the latest REIP data.
Meanwhile, 30-day buyer enquiry comparisons show declines across every state and territory. NSW, Victoria and WA recorded falls of around 16–17%, while Queensland declined 14.2%.
Appraisal activity also softened, falling 27.4% in NSW, 24.7% in Queensland and 23.1% in Victoria – potentially signalling fewer new listings ahead.
While more recent seven-day figures show some improvement in NSW, Tasmania and the ACT, the broader picture suggests increasing sales supply is meeting more cautious buyer demand.
Taken together, these trends highlight the competing pressures and increasingly complex conditions facing Australia’s property market. Understanding how they intersect will be critical for agents navigating changing buyer behaviour and a shifting market.
Modest green shoots emerge at open homes
Despite softer buyer enquiry trends, REIP’s latest inspections data offers some encouraging signs.
The number of property inspections increased 6.2% nationally, while attendance rose 5.5% between the weeks commencing 26 September and 3 October.
Victoria recorded some of the strongest gains. Attendance in Reservoir increased 47.3%, while Burwood East recorded a 51.6% rise, alongside an increase in inspections from 165 to 268. Wantirna more than doubled its attendance numbers.
In NSW, Lane Cove and Chatswood remained the busiest suburbs across both weeks, with inspection and attendance numbers continuing to grow. Turramurra and Glen Waverley also maintained strong activity.
Epping, Mosman and Maroochydore remained among the busiest markets, despite recording declines in both inspections and attendance.
While broader enquiry trends remain subdued, the latest inspection data points to pockets of resilience, reinforcing the importance of understanding local markets.
Pressure is mounting – and another rate rise could make it worse
New REIP rental data highlights the growing financial pressure on both property investors and tenants, raising concerns about the consequences of another interest rate increase.
Consider an investor with a $604,000 loan at 6.5% interest. Interest alone costs approximately $755 a week. With rental income of $600 a week, that’s a $155 shortfall before management fees, rates, insurance, maintenance and other costs.
A further 0.25 percentage point rate increase would add approximately $29 a week in interest – without creating a single additional home.
And while investors face rising costs, tenants cannot necessarily absorb higher rents. Rental prices remain constrained by local supply, demand and household capacity to pay.
The latest Forms Live–REIP Victorian rental data illustrates the pressure on both sides.
September lease renewals recorded a median rent increase of 5%, with units rising 6.4% compared with 4.2% for houses. For unit renters, the median increase of $35 a week represents an additional $1,820 annually.
At the same time, sale-related notices to vacate for units increased 34.8% in the year to September 2026 compared with the previous 12 months, signalling potential further losses from an already stretched rental market.
The data doesn’t establish why individual owners are selling, but it highlights the potential consequences of further financial pressure on our rental market. Higher borrowing costs won’t create more rental homes, and another rate rise risks making an increasingly difficult situation worse.
These market insights demonstrate the value of REIP’s growing industry-owned data capability. By providing independent, authoritative intelligence, REIP is strengthening members’ ability to understand emerging trends, make informed decisions and advocate effectively with government, media and the broader community.
REIP
Real Estate Industry Partners
