Is the property market nearing a bottom? Brisbane, Perth and the signals to watch

Concerns about the Australian property market and broader economic conditions dominate recent discussions among financial experts. The National Australia Bank's announcement of 2,500 job cuts, alongside rising unemployment rates, signals a tightening job market that could impact consumer confidence and spending. The unemployment rate has unexpectedly risen to 4.7%, the highest in five years, prompting speculation about potential interest rate hikes being tempered in the near future.

Market analysts note a significant decline in new home sales, with reports indicating a 17.5% drop in the September quarter. This downturn is particularly pronounced in Brisbane and Perth, where home sales have fallen sharply. The property market is experiencing a notable shift, with many investors retreating from previously buoyant markets, leading to increased vendor discounting and longer selling times. The influx of new listings has not translated into sales, raising concerns about a potential supply crunch in the future.

Experts suggest that while the current environment presents challenges, there may be signs of stabilization as the market adjusts to higher interest rates and changing economic conditions. The potential for a rebound in the property market is contingent on factors such as interest rate movements, inflation trends, and overall consumer sentiment. As the landscape evolves, stakeholders are urged to remain vigilant and informed about market dynamics.

Are Australian property prices nearing a bottom—or is the harder part of the downturn still ahead? In this Australian Property Podcast episode, Pete Wargent and Chris Bates compare what they are seeing on the ground with the latest housing, lending and employment reports. Brisbane and Perth are in focus, but the answer may look different across cities and price brackets.

Pete and Chris start with a spring selling season that has not brought the usual rush of new listings. They discuss softer new-home inquiries, the pressures facing smaller developers and a housing pipeline that may look plentiful in the near term yet thinner further out. Chris explains why a buyer who wants to refinance should understand their options before a change in work or borrowing capacity makes that harder.

They then ask whether bond yields and interest-rate expectations could signal a turn for property. Pete explores the possibility of a market bottom, while both hosts are careful about how difficult it is to identify one in real time. A fall in prices can mean different things for an investor, a first home buyer or someone selling one home to buy another.

Listener questions bring the discussion back to practical signals: days on market, local sales, clearance rates, affordability, borrowing conditions and whether good properties start moving again. Chris argues that watching your own suburb can reveal a shift before a national headline does. It is a useful framework for thinking about the next property cycle, not a promise about where prices go next.

Episode resources

– Ask a question (select the Property podcast)

Show partner resources

– Join Pearler using the code "RASKSWITCH" and get $32 of Pearler Credit

– Whatever comes next for your business, power it with Stripe

Rask resources

– Pete's Buyers Agency

– Alcove mortgage broking

– Amy Lunardi Buyers Agency (Melbourne)

– All services

– Financial Planning

– Invest with us

– Access Show Notes

– Ask a question

– We love feedback!

Follow us on social media

– Instagram: @rask.invest

– TikTok: @rask.invest

Disclaimer

The information in this episode is provided by The Rask Group Pty Ltd and contains general financial product advice only. It does not take into account your objectives, financial situation or needs.

Before acting, consider whether the information is appropriate for you and consider seeking personal advice from a licensed financial adviser. You can read our Financial Services Guide at www.rask.com.au/fsg. If a financial product is mentioned, consider the relevant PDS and TMD, where applicable, before making any financial decision.

Past performance is not a reliable indicator of future performance. Returns are not guaranteed and capital may be at risk.

The Rask Group Pty Ltd is a Corporate Authorised Representative No. 1280930 of Rask Licensing Pty Ltd, AFSL 563 907. Learn more about your ad choices. Visit megaphone.fm/adchoices