2026 Market Update Edition 36

There is a little more energy in Sydney's spring property market — and for the first time in several months, some of the broader indicators are beginning to move in the right direction.

Auction clearance rates have improved, buyer registrations are showing signs of strengthening and quality homes continue to generate genuine competition. Across the Upper North Shore, however, buyers remain highly disciplined. They're prepared to act when the right property presents itself, but they're equally comfortable waiting when price and value don't align.

The result is an increasingly interesting spring market: confidence is beginning to return, but buyers haven't abandoned their caution.

At a Glance

Here's what is shaping the Upper North Shore market this fortnight:

71 new listings entered the market, while 48 properties sold.

Available supply increased by 23 properties

38 properties were withdrawn or unlisted, as some vendors paused, reset or repositioned their campaigns.

A significant 99 auction changes were recorded, highlighting just how actively campaigns are being adapted.

Sydney recorded a 59.6% preliminary auction clearance rate for the week ending 13 September — its strongest preliminary result in 19 weeks.

557 Sydney homes went to auction, up 11.2% from two weeks earlier, although volumes remained 32.8% below the same period last year.

The takeaway: buyers are present and increasingly engaged, but the difference between interest and action remains significant. The properties creating genuine competition are those giving committed buyers a compelling reason to act.

Market by the Numbers
Our latest Upper North Shore Market Intelligence Report recorded 326 market movements across the 12-day reporting period.

There are some encouraging elements within those numbers.

While new listings continue to exceed sales, the resulting +23 supply build is relatively moderate compared with some of the larger increases recorded through winter and early spring.

Meanwhile, 48 sales from 71 new listings demonstrates that buyers are absorbing a meaningful amount of the property coming to market. They are active — but they're continuing to place a very clear value on what they're prepared to purchase.

Sydney's Auction Market is Beginning to Improve

Perhaps the most encouraging development this fortnight has come from Sydney's auction market.

For the week ending 13 September, Sydney recorded a 59.6% preliminary clearance rate, its strongest preliminary result in 19 weeks and up 1.9 percentage points from the previous comparable reading.

Importantly, that improvement occurred as volumes increased.

Sydney held 557 auctions, an increase of 11.2%, although activity remained almost one-third below the equivalent period last year.

The final numbers provide some useful perspective.

For the previous week ending 6 September, Sydney's preliminary result ultimately settled at a 52.5% final clearance rate, up from 51.5% the week before and the city's strongest final result since late July.

So while a 59.6% preliminary result shouldn't be interpreted as a final clearance rate, the direction is encouraging.

After spending much of winter in the mid-to-high 40s, Sydney has now recorded consecutive final results above 50%, followed by a stronger preliminary reading.

It is too early to declare a significant change in the market — but there are signs that buyers and sellers may gradually be finding more common ground.

The Difference Between Looking and Buying

One of the most interesting characteristics of today's market is that buyer numbers alone don't necessarily tell us how strong a campaign is.

There are plenty of buyers attending inspections, registering for auctions and following properties online.

The challenge is converting that interest into action.

Some buyers remain firmly in research mode. They're watching, comparing and waiting to see whether a property represents exceptional value before committing.

Then there is the committed buyer. They're financially prepared, they have a genuine reason to move and, importantly, they've found a property they don't want to lose.

In today's market, identifying and retaining those buyers can be more valuable than simply accumulating large numbers of enquiries.

A campaign doesn't necessarily need ten bidders to succeed.

Sometimes it needs two and sometimes it only needs one genuinely committed buyer and a vendor prepared to make a pragmatic decision.

That's why buyer qualification and follow-up are such important parts of the selling process.

Good Negotiation Matters in This Market

In extremely strong markets, competition can sometimes do much of the negotiating for you.

Today's environment is different. When there are eight active bidders, extracting another bid can be relatively straightforward.

When there are one or two genuinely committed buyers, negotiation becomes far more important.

Understanding the buyer's motivation, financial position, competing options and emotional attachment to the property can materially influence the outcome.

The same applies to vendors.

A seller needs clear information about what buyers are saying, what comparable properties are achieving and whether an offer represents the best available opportunity or whether further competition can realistically be created.

This is where experience becomes particularly valuable.

At The Marshall Group, our collaborative office network and shared buyer database allow us to identify buyers across the Upper North Shore rather than relying solely on enquiries generated by an individual listing.

The goal is simple: find every possible buyer, identify the committed ones and create the strongest negotiating environment possible.

The Next Interest Rate Decision Looms Large

One factor likely to influence sentiment over the coming weeks is monetary policy.

The RBA's cash rate currently sits at 4.35%, following its decision to hold rates in August. The Bank has continued to emphasise that inflation remains above target and that uncertainty around the outlook remains elevated.

That means buyers and sellers will continue watching interest-rate developments closely.

Housing confidence can be sensitive to changes in borrowing costs, particularly in higher-value markets such as Sydney.

But it's equally important not to allow speculation about the next rate decision to overwhelm decisions based on individual circumstances.

People still relocate for schools, employment, growing families, downsizing, separation, retirement and lifestyle.

Those motivations don't disappear because markets are uncertain, they simply make informed advice more important.

Looking Ahead

There are genuine reasons for optimism as we move further into spring.

Sydney's preliminary auction clearance rate has reached its strongest level in 19 weeks, final clearance rates have recently moved back above 50%, and buyer registrations appear to be gradually improving.

For sellers, success isn't about waiting and hoping that spring alone will lift the market. It's about identifying the right buyers, educating them on the property's value, creating genuine competition and being ready to negotiate decisively when the opportunity arrives.

At The Marshall Group, that's where our local market intelligence, collaborative office network, extensive buyer database and experienced negotiation come together.

Spring is gaining momentum.

The opportunity now is to turn increasing buyer confidence into meaningful competition — and meaningful competition into the strongest possible result.