Property prices remain high, but shifts in key factors are helping some locations move toward a buyer’s market.

CoreLogic head of research Tim Lawless reports that national price growth has slowed, listings are up, and purchasing activity has declined.

This creates more opportunities for buyers, although conditions still vary by location, with prices continuing to rise in most cities and regional markets.

CoreLogic data shows national listings at the end of 2024 were 3.8% higher than the same time in 2023, with stock levels building through spring and early summer.

Listings in Sydney, Melbourne, Brisbane, Adelaide, Perth, and Canberra were higher compared to the previous year, while Darwin and Hobart recorded fewer listings.

The median time on the market increased nationally, averaging 28 days for much of 2024 and rising to 33 days in the December quarter.

Regional differences remain significant.

While selling conditions have shifted slightly in favour of buyers in some areas, the median vendor discount rate tightened to -3.6% in the December 2024 quarter, compared with -3.8% a year earlier.

“This suggests that sellers have been relatively realistic when setting initial listing prices and have become more willing to meet the market,” Lawless says.