‘Opportunity is here’: Why home upgraders have the upper hand in Brisbane, Adelaide and Perth

Homeowners wanting to upsize to a bigger home in Brisbane, Adelaide and Perth have the most favourable conditions in years, experts say, despite cooling property conditions around the country. After years of surging competition and home price growth, conditions in Brisbane, Adelaide and Perth are shifting to a more balanced market between sellers and buyers. The number of homes for sale has grown substantially across those cities in recent months, as homeowners try to sell up and cash in those price gains. The numbers show it all: new home listings in September were up 10.6% in Brisbane, 27.7% in Adelaide, and 19.6% in Perth compared to 12 months ago, according to realestate.com.au. More homes are sitting on the market longer too, with the total number of properties for sale rising by 38.9% in Brisbane, 43.5% in Adelaide, and 35.8% in Perth, compared to a year ago. It comes as buyers become more selective due to interest rate hikes, record-high home prices, and cuts to tax benefits for property investors. Eleanor Creagh, senior economist at realestate.com.au, said homeowners looking to upgrade to a bigger place were seeing a meaningful improvement in choice in those cities. Homeown...