Spring traditionally brings more property to market, and early September data suggests auction activity is beginning to build as the season gets underway.
According to Cotality, 1,462 homes were taken to auction across the combined capital cities in the opening week of spring. While that remained well below the same period last year, auction volumes were expected to increase over the following weeks as the spring selling season gathered pace. (Source: Cotality)
Australia’s property market remains steady – September 2026
For anyone planning to buy, understanding your borrowing position before the right property appears can give you a much clearer idea of what you can realistically afford and put you in a better position to make an offer.
Know your borrowing position before you find the property
Your borrowing capacity will depend on a range of factors, including your income, living expenses, existing debts, credit card limits and other commitments. Different lenders can assess these factors in different ways, which means the amount you may be able to borrow can vary depending on the lender.
If you are preparing to buy a property, a mortgage broker can review your position across a range of lenders and arrange pre-approval for your home loan, giving you a clearer understanding of your borrowing position and helping you set a realistic budget before you start making offers.
This can be particularly important if you are considering buying at auction, where successful bids are generally unconditional.
A closer look at the Australian property market
While the broader auction data shows what is happening across Australia’s major cities, buyers need to look at local conditions to understand what is actually happening in the market they are buying into.
As of September 2026, Melbourne held the most auctions, with 662 homes going under the hammer. By comparison only one auction took place in Tasmania.
Source: Cotality
These figures highlight how property market conditions can vary considerably across Australia. Even within the same city or region, the level of available stock and buyer competition can differ depending on property type, location and price range. Understanding these local conditions can help buyers determine how quickly they may need to act and why having their finances organised before making an offer is important.
What market conditions mean for buyers
Broader market indicators can give buyers some context around the level of competition in the market. For the week ending 6 September 2026, the combined capital-city preliminary auction clearance rate was 52.7%, remaining relatively steady even though fewer homes were going to auction. (Source: Cotality)
For buyers in each different city or state, however, local sales data is particularly important because conditions can vary considerably by property type, location and price range. Recent Cotality sales data shows the range of properties changing hands locally, including some significant sales at the upper end of the market.
| Address | Property type | Bed | Bath | Car | Sale Price | Sale Date |
|---|---|---|---|---|---|---|
| Sydney, NSW 2000 | ||||||
| 3401/111 Castlereagh Street, Sydney NSW 2000 | Unit | N/A | N/A | N/A | $32,500,000 | 2026-08-07 |
| Melbourne, VIC 3000 | ||||||
| 2601/17 Spring Street, Melbourne VIC 3000 | Unit | 3 | 3 | 3 | $6,600,000 | 2026-08-14 |
| Brisbane, QLD 4000 | ||||||
| 1/74 Astor Terrace, Spring Hill QLD 4000 | Unit | N/A | N/A | 1 | $6,850,000 | 2026-09-14 |
| Perth, WA 6000 | ||||||
| 7/101 Palmerston Street, Perth WA 6000 | Unit | 3 | 1 | N/A | $1,180,000 | 2026-08-30 |
| Adelaide, SA 5000 | ||||||
| 3002/29 Angas Street, Adelaide SA 5000 | Unit | 3 | 2 | 2 | $3,375,000 | 2026-08-14 |
| Canberra, ACT 2601 | ||||||
| 53/15 Coranderrk Street, City ACT 2601 | Unit | 3 | 2 | 2 | $880,000 | 2026-10-02 |
| Darwin, NT 0800 | ||||||
| 29/84 Esplanade, Darwin City NT 0800 | Unit | 3 | 2 | N/A | $1,259,000 | 2026-07-31 |
Over the previous 90 days, property sales across Australia’s capital cities highlight the considerable variation in property values between locations. The highest-value sale recorded in Sydney’s CBD postcode was a unit at 111 Castlereagh Street, selling for $32.5 million. In comparison, high-value sales included $6.85 million in Brisbane, $6.6 million in Melbourne, $3.375 million in Adelaide, $1.259 million in Darwin, $1.18 million in Perth and $880,000 in Canberra. Interestingly, all seven properties were units, highlighting the significant values that apartments can command in Australia’s capital city centres and the importance of understanding local market conditions when considering a property purchase.
That range is a useful reminder that purchase prices can vary significantly depending on the property itself, not just the suburb. Rather than focusing only on the maximum amount a lender may allow you to borrow, it can be more practical to work backwards from the type of property and location you are targeting, then consider how much deposit you may need, whether lenders mortgage insurance may apply, what your repayments could look like and which lenders may be appropriate for your circumstances.
Get your finance ready before the right property appears
For prospective buyers, working with a specialist mortgage broker can give you a clearer understanding of your finance options in the context of the local property market. We can review your borrowing capacity, compare lenders, consider deposit requirements and explain what repayments may look like across different purchase prices.
Once you understand the type of property and price range you are targeting, the next step is to structure your finance around that goal.