Nearly two out of every three Brisbane homeowners whose properties lingered on the market for more than 75 days have quietly given up trying to sell, as Queensland’s property boom tips decisively in buyers’ favour for the first time in six years.
Exclusive analysis by FoundIt Property found 93 of 144 long-running campaigns across Brisbane’s emerging buyers’ market areas were withdrawn without selling — a hidden sign vendors are increasingly failing to achieve the prices they want.
FoundIt head of research Kent Lardner has done some analysis of the Brisbane market, finding two out of every three homeowners have given up trying to sell.
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This house at 154 Westlake Drive, Westlake, is on the market for offers over $1.25m.
| QLD SUBURBS WHERE SELLERS ARE GIVING UP |
| Brighton-Sandgate: 6 of 7 campaigns withdrawn (86%) |
| Loganlea–Carbrook: 6 of 7 withdrawn (86%) |
| Springfield–Redbank: 5 of 6 withdrawn (83%) |
| Bald Hills–Everton Park: 7 of 9 withdrawn (78%) |
| Kenmore–Brookfield–Moggill: 3 of 4 withdrawn (75%) |
| Beaudesert: 6 of 8 withdrawn (75%) |
| Bribie–Beachmere: 7 of 12 withdrawn (58%) |
| Source: FOUNDIT |
The findings come as the research declares Greater Brisbane’s detached housing market has officially crossed into buyers’ territory, with the balance between supply and demand swinging away from sellers after years of relentless competition.
And it reveals the suburbs where listings are being withdrawn because homes are not selling — creating opportunities for savvy buyers.
As auction clearance rates slump and home prices soften, rising listings, longer selling times and an increasing number of abandoned campaigns are now giving buyers negotiating power they haven’t enjoyed since before the pandemic.
FoundIt property head of research Kent Lardner said the market had reached a milestone that had not been seen in years.
FoundIt head of research Kent Lardner.
| QLD’S EMERGING BUYERS’ MARKETS | ||
| Area | Biggest warning sign | Buyer advantage |
| Westlake | Selling time doubled to 54 days | More room to negotiate |
| Pinjarra Hills | 39 day blowout | Prestige homes sitting longer |
| Sunnybank | Houses taking 57 days to sell | Less competition |
| Sandgate | 86% of long campaigns withdrawn | Vendors losing leverage |
| Loganlea | 86% withdrawn | Buyers spoiled for choice |
| Wamuran | Homes taking 66 days | Stock building |
| Source: FOUNDIT |
“For the first time in a long time, the inventory maths has flipped,” Mr Lardner said. “Greater Brisbane houses have tipped past the point where we measure supply and demand in balance, and we are now calling it, overall, a market that favours buyers more than sellers.
“That is not something we have been able to say about Brisbane for many years.”
Rather than relying on suburb median prices, which can fluctuate depending on the mix of homes sold, the analysis measures inventory levels, listings, days on market and withdrawn campaigns to identify where bargaining power is shifting. According to the report, those indicators now consistently point to a cooling market.
This house at 10 Ryhill Rd, Sunnybank, is on the market for offers over $940,000.
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Mr Lardner said some of the strongest evidence came from the growing number of listings that simply disappeared.
Because withdrawn properties never settle, they leave little or no trace in official sales figures, creating what the report describes as a “hidden layer” of the market.
Across the identified buyers’ market areas, only 51 of the 144 homes that remained on the market for more than 75 days ultimately sold. The remaining 93 campaigns were withdrawn after failing to secure a buyer.
Mr Lardner said buyers who had spent years being priced out or repeatedly missing out at auction were finally seeing conditions swing back in their favour.
This house at 23 Kempster St, Sandgate, is on the market for offers over $1.1m.
“If you were locked out at the peak, or you simply gave up competing, this is the window you have been waiting for — more stock, more time, and far less pressure on auction day,” he said.
“We expect conditions to keep moving in buyers’ favour over the next 12 months while listings keep running ahead of sales.”
This house at 32 Jellicoe St, Loganlea, is on the market for $849,000.
Property Investor Council of Australia chair Ben Kingsley said he anticipated that by August, every capital city in the country would be in a correction as a result of the federal government’s changes to capital gains tax and negative gearing.
Mr Kingsley said he also expected the falls to be felt harder in Perth, Brisbane and Adelaide where the growth had been the biggest in recent years.
“There’s no doubt that this is the straw that broke the camel’s back in terms of the housing market in this country,” Mr Bright said.
Proptech platform, bRight Agent, is urging homeowners to shop around and negotiate real estate agent fees before selling.
bRight Agent co-founder Aaron Scott said shopping around for competitive commission rates was one of the most effective ways for sellers to offset the financial impact of declining house prices.
Ben Kingsley, Property Investor Council of Australia chair. Picture: Supplied.
“When the property market is booming, people often overlook the cost of agent commissions because their profits are high,” Mr Scott said.
“But in a falling market, those fixed percentage fees hurt a lot more. It is your hard-earned equity, and you need to shop around to keep as much of it as possible.
“By shopping around, we’re seeing homeowners save around 20 per cent on their commission fee, and in other cases its a saving of around $11,000 on their sale costs.”
Mr. Scott said the process of finding and negotiating with multiple agents has historically been difficult for the average seller, leading many to accept the first rate they were offered.
“We know that selling a home during a market downturn is incredibly stressful, and the last thing you want to do is have more agents go through your house,” he said.
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