2026 Market Update Edition 34

Spring hasn't officially arrived, but the Upper North Shore market is already shifting gears.

Over the past fortnight, we've seen a significant increase in properties coming to market alongside an equally encouraging lift in sales. Buyers now have considerably more choice, yet 70 properties still changed hands during the period — a reminder that genuine demand remains present when the right home and the right buyer come together.

For homeowners contemplating a spring move, the message is becoming clearer: the market is active, but with competition between listings increasing, how a property is positioned from day one will matter.

At a Glance
Here's what shaped the Upper North Shore market over the past fortnight:

112 new listings entered the market, providing buyers with significantly greater choice ahead of spring.

70 properties sold — a healthy level of transactional activity despite increasing stock.

Available supply increased by 42 properties before withdrawals were considered.

50 properties were withdrawn or unlisted, as some campaigns were paused, reset or repositioned.

68 auction changes demonstrate that flexibility around timing and method of sale remains important.

Sydney's auction market recently recorded a 51.5% final clearance rate, its strongest result in several weeks and a noticeable improvement from 45.6% the week prior.

Outlook: spring activity is arriving early, bringing more buyers into the market but also considerably more competition between sellers.

The takeaway: there is plenty happening beneath the headline numbers. Buyers have choices, but they are also transacting. For sellers, capturing attention early is becoming increasingly important.

Market by the Numbers

Our latest Upper North Shore Market Intelligence Report recorded over the 14-day period.

• 112 new listings
• 70 recorded sales
• +42 net supply build before withdrawals
• 74 price changes
• 50 withdrawn or unlisted campaigns
• 68 auction changes

There are two numbers worth focusing on this fortnight: 112 and 70.

The 112 new listings represent a substantial injection of fresh property into the market. But at the same time, 70 reported sales show that buyers are absorbing a meaningful proportion of that new supply.

That distinction is important.

This isn't simply a market accumulating unsold stock. It is a market becoming more active on both sides of the transaction as we approach spring.

The net result, however, is still a 42-property increase in available supply before withdrawals are taken into account. Buyers therefore have greater choice, and sellers face greater competition for their attention.

Sydney's Market is Showing Signs of Life

There have been some encouraging signs beyond the Upper North Shore as well.

Sydney's auction market continues to show signs of improvement from its winter lows, with the preliminary clearance rate sitting at 55.6% for the week ending 16 August. While slightly below the previous week's 57.0%, it remains a noticeable improvement on the sub-50% results recorded through parts of June and July It is too early to call that a sustained recovery.

But the improvement is welcome.

Earlier this winter, Sydney clearance rates fell to levels not seen for many years, accompanied by fewer registered bidders and a sharp rise in withdrawn auctions.

Against that backdrop, a return above 50% provides some indication that buyers and sellers may be beginning to find common ground and that is ultimately what creates transactions.

More Stock, More Sales - and More Competition

Locally, the most significant development is the speed at which new stock is arriving.

112 new listings in 14 days is a considerable increase in buyer choice.

That can be positive for the market as a whole. A broader selection of property encourages buyers who may have spent winter waiting on the sidelines to re-engage, particularly families hoping to secure a home and move before the end of the year.

For sellers, however, the competitive landscape is changing, a buyer who previously had two suitable homes to consider may now have five.

That makes the opening weeks of a campaign particularly important.

The objective is to become the property buyers compare everything else against — rather than the property they return to after exploring other options.

Presentation, photography, marketing reach, database engagement, price positioning and follow-up all contribute to creating that early momentum.

Pricing is Telling Us Something Important

Today's buyers have access to an extraordinary amount of information. They generally know what has sold, what hasn't, how long properties have been available and where price expectations have changed.

The best campaigns work with that knowledge rather than against it.

Auction: The Strategy Matters More Than the Method

Auction conditions are also beginning to show signs of improvement after a particularly challenging winter.

Sydney's recent 51.5% final clearance rate represented a 12-week high for the combined capital city measure, while Sydney itself recorded a 5.9 percentage point improvement in a single week.

Our own data nevertheless recorded 68 auction changes over the fortnight.

That reinforces an important point: there is no reason to remain rigid about a campaign simply because an auction date has been set.

An excellent offer before auction can be the right result, creating competition and proceeding to auction can be the right result, passing in and negotiating immediately afterwards can also deliver the right result.

The method is a means to an end.

At The Marshall Group, our focus is on identifying where the strongest leverage sits within each individual campaign and adapting accordingly. In a market where buyers have more choice, our connected office network and shared buyer database become particularly valuable in identifying genuine purchasers and creating competition between them.

Why the Upper North Shore Continues to Hold Appeal

Broader Sydney conditions provide useful context, but Ku-ring-gai has its own characteristics.

The reasons families choose Wahroonga, Turramurra, Pymble, St Ives, Gordon, Killara, Lindfield, Roseville and the surrounding suburbs haven't suddenly changed because the property cycle has.

Highly regarded schools, established neighbourhoods, transport connections, larger blocks, access to green space and the ability to remain within reasonable reach of the CBD continue to make the Upper North Shore highly desirable.

There is also evidence of continued strength at the premium end of individual local markets. For example, current market data for five-bedroom Lindfield houses places the median around $5.03 million, with 12-month growth of approximately 14.8%.

That doesn't mean every property or suburb is moving at the same pace. It does reinforce why city-wide Sydney statistics need to be considered alongside genuinely local information.

An Interesting Market for Movers

For homeowners considering selling and buying in the same market, the current conditions deserve particular attention.

It's natural to focus on what your existing property might achieve but that's only half of the equation.

With stock increasing and buyers gaining negotiating flexibility, someone selling today may also encounter considerably more choice when purchasing their next home.

For a family moving from one $3 million property to another at $4 million, for example, the important figure isn't simply the sale price — it's the changeover.

A softer or more negotiable market can sometimes work particularly well for homeowners moving upwards because the saving on the more expensive purchase can outweigh a moderation in the price achieved on the property being sold.

That's why decisions around timing should be considered across the entire transaction rather than viewing the sale and purchase in isolation.

Spring is Arriving Early

If there is one message coming through clearly from this fortnight's numbers, it is that the spring market is already beginning.

112 new listings and 70 sales in just 14 days represents substantial activity.

The strongest spring campaigns will therefore be those that enter the market knowing precisely where they sit, who their likely buyers are and how they intend to stand apart.

There will undoubtedly be further shifts in sentiment as the season unfolds, but activity itself is encouraging. Markets function best when buyers have reasons to inspect, sellers have confidence to list and transactions begin flowing more freely. We're increasingly seeing all three.

For anyone considering a move this spring, now is the time to understand the competition already on the market and the properties preparing to launch.

At The Marshall Group, our role is to turn that information into an advantage — combining current local market intelligence, thoughtful preparation, strategic marketing, our extensive buyer network and experienced negotiation to position each property for the strongest possible outcome.

Spring is bringing more choice, more activity and more opportunity. The key will be knowing how to make it work in your favour.