2026 Market Update Edition 27

The Upper North Shore property market continues to transition into a more balanced
and opportunity-driven environment, with recent data highlighting an increase in available stock, softer buyer urgency, and a growing importance on strategy, presentation and pricing.

Across the seven-day reporting period, 60 new listings went live. The surge in listings marks the strongest increase in supply seen since February and reflects renewed confidence from homeowners entering the market.

At the same time, buyer behaviour has become more measured, creating a market where well-positioned properties continue to perform, while aspirational campaigns are taking longer to gain traction.

Market Snapshot

The latest figures point to a market that is becoming increasingly competitive for sellers, though still fundamentally stable across the Upper North Shore.

Key themes emerging include:

A sharp rise in available stock following the Easter and ANZAC Day periods

Softer sales absorption relative to the increase in listings

Ongoing price sensitivity from buyers

Elevated numbers of withdrawn and postponed campaigns

More properties beginning to exceed 90 days on market

Importantly, this does not suggest a distressed market. Rather, it reflects a more considered environment where buyers have greater choice and are taking additional
time to make decisions.

In practical terms, the market is rewarding homes that are:

Well-presented

Strategically priced

Professionally marketed

Supported by proactive buyer engagement

Auction & Buyer Activity

Auction conditions across Sydney remained subdued through the ANZAC Day period,
with lighter-than-normal volumes affecting overall market activity.

Cotality reported 257 scheduled auctions across Sydney, down significantly from the previous week, with a preliminary clearance rate of 59%. However, as has been the trend recently, preliminary figures continue to revise lower once withdrawn and unreported auctions are accounted for.

The previous week’s final Sydney clearance rate ultimately settled closer to 51%, despite an initial preliminary figure of 56%.

Locally, we are continuing to see:

More auction postponements and date removals

Increased negotiation occurring before and after auction

Buyers remaining active, but highly selective

Lower urgency and fewer emotionally driven decisions

Average buyer registrations also remain relatively light, reinforcing the fact that many buyers are currently adopting a “wait and see” approach while broader economic conditions unfold.

Despite this, quality homes continue to transact successfully — particularly where campaigns are guided with strong strategy, realistic pricing and consistent buyer communication.

At The Marshall Group, we are continuing to see the value of proactive buyer engagement through our connected office network and shared database, with many successful outcomes occurring through negotiation rather than relying solely on auction day competition.

Interest Rates, Inflation & Economic Sentiment

Broader economic conditions are playing an increasingly important role in shaping buyer and seller confidence.

At its May meeting, the Reserve Bank of Australia increased the cash rate by 0.25% to 4.35%, citing continued inflationary pressure, rising fuel costs and broader concerns around pricing across goods and services.

The RBA’s commentary made it clear that policymakers remain focused on controlling inflation and rebalancing demand across the economy. Markets are now closely watching upcoming inflation data, the next RBA decision and the Federal Budget for further direction.

Global uncertainty is also influencing sentiment locally. Ongoing tensions in the Middle East and concerns around rising oil prices have added another layer of caution to both buyer and vendor decision-making.

As a result, many participants are currently seeking greater clarity before making major property decisions.

However, while confidence has softened, demand has not disappeared.

The Upper North Shore continues to benefit from strong long-term fundamentals, including:

Quality schools

Lifestyle appeal

Limited land supply

Established family demand

Strong owner-occupier demographics

These factors continue to underpin buyer interest, even in more cautious market conditions.
 

What We're Seeing on the Ground

There is now a noticeable difference between campaigns that are strategically managed and those that are not adapting quickly enough to current conditions.

The strongest results are consistently being achieved where vendors are:

Pricing in line with market feedback

Investing in presentation

Launching with a clear strategy

Working with agents who are actively managing buyer relationships throughout
the campaign

Campaigns that miss the market on price are increasingly requiring adjustments later
in the process, often resulting in extended days on market or auction changes.

This is where experience and local market knowledge become increasingly valuable.

The Marshall Group’s collaborative network, buyer reach and tailored campaign approach continue to help our clients navigate changing conditions with confidence, clarity and flexibility.
 

Community Corner

One of the enduring strengths of the Upper North Shore remains its strong sense of community and lifestyle appeal.

As we move through autumn, local village centres, parks, cafés and schools continue to drive strong lifestyle demand from families looking to secure their place in the area ahead of the second half of the year.

The ongoing appeal of suburbs such as Wahroonga, Turramurra, Pymble, Warrawee
and St Ives continues to attract buyers seeking long-term quality of life, education
access and established neighbourhood amenity.

A Positive Outlook

While the market has undoubtedly become more measured, it remains active and full
of opportunity for well-prepared sellers.

As we move further into May, we expect:

Listing volumes to remain elevated

Buyer enquiry to remain stable for quality homes

Continued emphasis on pricing accuracy and campaign execution

More negotiated outcomes occurring before or after auction

Importantly, periods like this often create excellent opportunities for strategic sellers
who are prepared to adapt to current market conditions rather than rely on outdated expectations.
 

Final Thought

Today’s market is no longer being driven purely by urgency — it is being driven
by confidence.

Confidence in pricing.
Confidence in presentation.
Confidence in strategy.

In an environment where buyers are more selective and conditions are evolving week
by week, the quality of advice and representation matters more than ever.

At The Marshall Group, we remain focused on helping our clients navigate these conditions with transparency, experience and tailored strategies designed to maximise opportunity and deliver the strongest possible outcome.

If you would like a confidential update on your property or a clearer understanding of current buyer demand in your area, we would be delighted to assist.